The demand curve in a purely competitive industry is while the demand curve to a single firm in that industry is perfectly inelastic, perfectly elastic downsloping, perfectly elastic downsloping, perfectly inelastic perfectly elastic, downsloping

The owners of backstreets italian restaurant are considering starting a delivery service forpizza and their other italian dishes in the small college town where they are located. theycan purchase a used delivery van and have it painted with their name and logo for $21,500.they can hire part-time drivers who will work in the evenings from 5 p. m. to 10 p. m. for$8 per hour. the drivers are mostly college students who study at the restaurant when theyare not making deliveries. during the day, there are so few deliveries that the regular employeescan handle them. the owners estimate that the van will last 5 years (365 days per year)before it has to be replaced and that each delivery will cost about $1.35 in gas and othermaintenance costs (including tires, oil, scheduled service, they also estimate that onaverage each delivery order will cost $15 for direct labor and ingredients to prepare andpackage, and will generate $34 in revenue. a. how many delivery orders must backstreets make each month in order for the service to break even? b. the owners believe that if they have approximately the break-even number of deliveries during the week, they will at least double that number on fridays, saturdays, and sundays. if that’s the case, how much profit will they make, at a minimum, from their delivery service each month (4 weeks per month)?

During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?

The following accounts appeared in recent financial statements of delta air lines. identify each account as either a balance sheet account or an income statement account. for each balance sheet account, identify it as an asset, a liability, or stockholders' equity. for each income statement account, identify it as a revenue or an expense. item financial statement type of account accounts payable balance sheet advanced payments for equipment balance sheet air traffic liability balance sheet aircraft fuel (expense) income statement aircraft maintenance (expense) income statement aircraft rent (expense) income statement cargo revenue income statement cash balance sheet contract carrier arrangements (expense) income statement flight equipment balance sheet frequent flyer (obligations) balance sheet fuel inventory balance sheet landing fees (expense) income statement parts and supplies inventories balance sheet passenger commissions (expense) income statement passenger revenue income statement prepaid expenses income statement taxes payable balance sheet