Aerospace Engineering borrows $40 million cash on November 1, 2018. Aerospace signs a six-month, 6% promissory note to First National Bank under a prearranged short-term line of credit. Interest on the note is payable at maturity. Each firm has a December 31 year end. 1. Prepare the journal entries on November 1, 2018 to record (a) the notes payable for Aerospace Engineering and (b) the notes receivable for First National Bank. 2. Record the adjusting entries on December 31, 2018 for (a) Aerospace Engineering and (b) First National Bank. 3. Prepare the journal entries on April 30, 2019 to record payment of (a) the notes payable for Aerospace Engineering and (b) the notes receivable for First National Bank.

Bayside began 2014 with an inventory t-account debit balance of $155,000. inventory purchases during the year amounted to $75,000. there were no inventory-related write-downs or losses. what is its december 31, 2014, inventory account balance?

8. agreement and disagreement among economists suppose that bob, an economist from a university in arizona, and cho, an economist from a public television program, are arguing over saving incentives. the following dialogue shows an excerpt from their debate: cho: i think it's safe to say that, in general, the savings rate of households in today's economy is much lower than it really needs to be to sustain an improvement in living standards. bob: i think a switch from the income tax to a consumption tax would bring growth in living standards. cho: you really think households would change their saving behavior enough in response to this to make a difference? because i don't. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? rent ceilings reduce the quantity and quality of available housing. immigrants receive more in government benefits than they contribute in taxes. having a single income tax rate would improve economic performance.

Suppose that electricity producers create a negative externality equal to $5 per unit. further suppose that the government imposes a $5 per-unit tax on the producers. what is the relationship between the after-tax equilibrium quantity and the socially optimal quantity of electricity to be produced?