Consider, however, that the Fed chair is legally compelled to step down after a year (the term of the Fed chair is limited), and that financial market players have been aware of this for some time. In other words, market players anticipate a future decrease in the money supply. They also think the nominee's future monetary policy will be more contractionary. Participants in the financial markets anticipate that Congress will ratify the candidate. The president makes her choice to succeed the departing Fed head at the same time. Marie wants to decide how many of each type of baked good she should make in order for the PTA to make the most money possible.įormulate a linear programming model for this problem.Ī new head of the Federal Reserve: In a hypothetical economy, let's say the Fed chairman announces suddenly that he will step down after a year. She knows that the PTA will sell a chocolate cake for $ 12 \$ 12 $12, a loaf of bread for $ 8 \$ 8 $8, a custard pie for $ 10 \$ 10 $10, and a batch of cookies for $ 6 \$ 6 $6. Marie plans to get up and start baking on Friday morning after her kids leave for school and finish before they return after soccer practice (8 hours). There are 18.5 cups in a 5 pound bag of flour and 12 cups in a 5 pound bag of sugar. The following table shows how much of each of the main ingredients is required for each baked good:įlour (cups) \begin Thursday evening she went to the store and purchased 20 pounds of flour, 10 pounds of sugar, and 3 dozen eggs, which are the three main ingredients in all the baked goods she is thinking about making. She has decided to make some combination of chocolate cakes, loaves of white bread, custard pies, and sugar cookies.
She needs to know the total assets.Marie McCoy has committed to the local PTA to make some items for a bake sale on Saturday. Unearned service revenue that has been earned, $1,620Īlison Sikes, the principal stockholder, has received an offer to sell Huntley Digital Services Company. The accounts of Huntley Digital Services Company prior to the year-end adjustments follow:Ĭash $ 7, 200 Common stock $ 10, 000 Accounts receivable 7, 700 Retained earnings 46, 000 Supplies 4, 600 Dividends declared 12, 000 Prepaid insurance 3, 400 Service revenue 158, 000 Building 105, 000 Salary expense 36, 000 Accumulated depreciation- Depreciation expense- building 16, 200 building Land 57, 000 Supplies expense Accounts payable 6, 600 Insurance expense Salary payable Advertising expense 7, 100 Unearned service revenue 5, 400 Utilities expense 2, 200 \begin & 2,200\\Ĭash Accounts receivable Supplies Prepaid insurance Building Accumulated depreciation- building Land Accounts payable Salary payable Unearned service revenue $ 7, 200 7, 700 4, 600 3, 400 105, 000 16, 200 57, 000 6, 600 5, 400 Common stock Retained earnings Dividends declared Service revenue Salary expense Depreciation expense- building Supplies expense Insurance expense Advertising expense Utilities expense $ 10, 000 46, 000 12, 000 158, 000 36, 000 7, 100 2, 200 Īdjusting data at the end of the year include the following:Ī.
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