Use the space below and the back to write out and clearly indicate your answers. do not use this sheet as scrap paper, but use it to neatly present your work. kanga is planning to open a new cafe in the hundred acre wood called roo's roost. kanga's business model is to set a cover charge for all-day admission to the cafe where she'll sell cups of strong coffee and the customers themselves will provide hours of entertaining caffeine-fueled conversation. each of the characters in the hundred acre wood has a utility function for coffee, x, and money spent on other things y, given by u(x, y) = 24x -x2+y. each character has at least $1,000 and can afford to buy what they want. kanga finds that coffee will cost her $2 per cup. ) calculate cach character's demand function for coffee.

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For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Read the following scenario and answer the question in 5-10 sentences. you are the owner of a small business that is a defendant in a lawsuit in federal court. you received bad news from your lawyer that the judge did not allow certain documents to be admitted as evidence in court and that the jury reached a $50,000 verdict in favor of the plaintiff. your lawyer tells you that it is within your legal right to hire him to file an appeal with the united states court of appeals. if the appellate court rules in your favor, you may be able to avoid paying part or all of the $50,000. evaluate your lawyer’s suggestion about appealing the decision.