Each Problem Solver is an insightful and essential study and solution guide chock-full of clear, concise problem-solving gems. All your questions can be found in one convenient source from one of the most trusted names in reference solution guides. More useful, more practical, and more informative, these study aids are the best review books and textbook companions available. Nothing remotely as comprehensive or as helpful exists in their subject anywhere. Perfect for undergraduate and graduate studies. Here in this highly useful reference is the finest overview of business, accounting, and finance currently availablea, with hundreds of business, accounting, and finance problems that cover everything from advanced math skills to economic theories and from financial management theories to accounting skills. Each problem is clearly solved with step-by-step detailed solutions. DETAILS - The PROBLEM SOLVERS are unique - the ultimate in study guides. - They are ideal for helping students cope with the toughest subjects. - They greatly simplify study and learning tasks. - They enable students to come to grips with difficult problems by showing them the way, step-by-step, toward solving problems. As a result, they save hours of frustration and time spent on groping for answers and understanding. - They cover material ranging from the elementary to the advanced in each subject. - They work exceptionally well with any text in its field. - PROBLEM SOLVERS are available in 41 subjects. - Each PROBLEM SOLVER is prepared by supremely knowledgeable experts. - Most are over 1000 pages. - PROBLEM SOLVERS are not meant to be read cover to cover. They offer whatever may be needed at a given time. An excellent index helps to locate specific problems rapidly. - Educators consider the PROBLEM SOLVERS the most effective and valuable study aids; students describe them as "fantastic" - the best books on the market. TABLE OF CONTENTS Introduction Chapter 1: Basic Math Skills Addition and Subtraction Multiplication Division Averages Ratios and Percents Conversion of Units Chapter 2: Taxes Sales Tax Income Tax Property Tax Chapter 3: Insurance Life Insurance Social Security Health Insurance Automobile Insurance Fire Insurance Chapter 4: Intermediate Math Skills Algebraic Equations Cost, Revenue, and Production Functions Chapter 5: Economic Theory Microeconomics Indifference and Demand Curve Analysis Production and Cost Functions Perfect and Imperfect Competition Macroeconomics Production Possibilities Frontiers Keynesian Macroeconomics Monetary Problems Chapter 6: Advanced Math Skills Rate of Change: Marginal Costs and Revenue Cost Minimization Profit Maximization Through Production Adjustments Profit Maximization Through Price Adjustments MANAGEMENT THEORY AND SKILLS Chapter 7: Payroll Wage Rates and Gross Earnings Chapter 8: Commissions Chapter 9: Advertising Rate Per Advertisement Milline Rate Chapter 10: Transportation Shipping and Mailing Vehicle Rental Chapter 11: Wholesale Discounts Discounts and Discount Rates Series Discounts Terms of Discounts Chapter 12: Retailing Retailing Markdowns and Discounts Markups Chapter 13: Purchasing Decisions Chapter 14: Analysis of Costs and Profits Fundamentals Present Worth Rate of Return Chapter 15: Corporate Operations Costs and Price Sales and Corporate Income Accounting Systems ACCOUNTING SKILLS Chapter 16: Balance Sheets Structure of the Balance Sheet Journals, Ledgers, and Trial Balances Rates and Ratios Chapter 17: Financial Statements Ratios and Minor Documents Income Statements and Net Profits Chapter 18: Inventory Methods of Valuation Open-To-Buy and Stockturn Rate Chapter 19: Depreciation Units of Production/Use Method and Straight-Line Method Declining Balance Method Sum of the Years'' Digits Method and Comprehensive Problem Chapter 20: Overhead Distribution Floor Space Basis Cost/Profit Basis Chapter 21: Partnerships Chapter 22: Cost Accounting Standard Costs Break-Even Analysis and Pricing FINANCIAL MANAGEMENT Chapter 23: Interest Simple Interest Exact Interest Compound Interest Effective Interest Chapter 24: Installment Plans Installment Cost and Finance Charges Percent of Finance Charges Chapter 25: Banking Bank Statements and Deposit Accumulation Bank Notes and Mortgages Loans and Nominal vs. True Interest Rate Chapter 26: Stocks Cost Yield Rate and Income from Stocks Chapter 27: Bonds Characteristics of Bonds Cost and Face Value Interest Rates Chapter 28: Notes and Drafts Notes Drafts Chapter 29: Personal Finance Expenditures and Choices Savings and Funds ADVANCED TECHNIQUES Chapter 30: Personal Finance Maximization and Minimization Problems Games, Business Applications, and Advanced Problems Chapter 31: Data Processing Chapter 32: Statistics Chapter 33: Using Operations Research for Business, Management, and Finance Chapter 34: Using Computers for Business Applications Depreciation, Interest. and Commission Problems Optimizing Production Operations Research TABLE FOR SELECTED PROBLEMS Discount Tables Automobile Insurance Fire Insurance Life Insurance Retirement Income Economy Study Interest Tables INDEX WHAT THIS BOOK IS FOR Students have generally found business, accounting, and finance difficult subjects to understand and learn. Despite the publication of hundreds of textbooks in these fields, each one intended to provide an improvement over previous textbooks, students of business, accounting, and finance continue to remain perplexed as a result of numerous subject areas that must be remembered and correlated when solving problems. Various interpretations of business, accounting, and financial terms also contribute to the difficulties of mastering these subjects. In a study of business, accounting, and finance, REA found the following basic reasons underlying the inherent difficulties of business, accounting, and finance: No systematic rules of analysis were ever developed to follow in a step-by-step manner to solve typically encountered problems. This results from numerous different conditions and principles involved in a problem that leads to many possible different solution methods. To prescribe a set of rules for each of the possible variations would involve an enormous number of additional steps, making this task more burdensome than solving the problem directly due to the expectation of much trial and error. Current textbooks normally explain a given principle in a few pages written by a business, accounting, or finance professional who has insight into the subject matter not shared by others. These explanations are often written in an abstract manner that causes confusion as to the principle''s use and application. Explanations then are often not sufficiently detailed or extensive enough to make the reader aware of the wide range of applications and different aspects of the principle being studied. The numerous possible variations of principles and their applications are usually not discussed, and it is left to the reader to discover this while doing exercises. Accordingly, the average student is expected to rediscover that which has long been established and practiced, but not always published or adequately explained. The examples typically following the explanation of a topic are too few in number and too simple to enable the student to obtain a thorough grasp of the involved principles. The explanations do not provide sufficient basis to solve problems that may be assigned for homework or given on examinations. Poorly solved examples such as these can be presented in abbreviated form which leaves out much explanatory material between steps, and as a result requires the reader to figure out the missing information. This leaves the reader with an impression that the problems and even the subject are hard to learn - completely the opposite of what an example is supposed to do. Poor examples are often worded in a confusing or obscure way. They might not state the nature of the problem or they present a solution, which appears to have no direct relation to the problem. These problems usually offer an overly general discussion - never revealing how or what is to be solved. Many examples do not include accompanying diagrams or graphs, denying the reader the exposure necessary for drawing good diagrams and graphs. Such practice only strengthens understanding by simplifying and organizing business, accounting, and finance processes. Students can learn the subject only by doing the exercises themselves and reviewing them in class, obtaining experience in applying the principles with their different ramifications. In doing