Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31: Account Titles Debit Credit Cash $ 42,000 Accounts receivable 11,600 Supplies 900 Prepaid insurance 800 Service trucks 19,000 Accumulated depreciation $ 9,200 Other assets 8,300 Accounts payable 3,000 Wages payable Income taxes payable Note payable (3 years; 10% interest due each December 31) 17,000 Common stock (5,000 shares outstanding) 400 Additional paid-in capital 19,000 Retained earnings 6,000 Service revenue 61,360 Remaining expenses (not detailed; excludes income tax) 33,360 Income tax expense Totals $ 115,960 $ 115,960 Data not yet recorded at December 31 included: The supplies count on December 31 reflected $300 in remaining supplies on hand to be used in the next year. Insurance expired during the current year, $800. Depreciation expense for the current year, $3,700. Wages earned by employees not yet paid on December 3, $640. Income tax expense, $5,540.
Data not yet recorded at December 31 included:_____.
The supplies count on December 31 reflected $300 in remaining supplies on hand to be used in the next year.
Insurance expired during the current year, $800.
Depreciation expense for the current year, $3,700.
Wages earned by employees not yet paid on December 3, $640.
Income tax expense, $5,540.
Problem: Prepare an income statement and a classified balance sheet that include the effects of the preceding five transactions.

Answer:

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The Pioneer Company has provided the following account balances: Cash $39,400; Short-term investments $5,400; Accounts receivable $7,400; Supplies $55,000; Long-term notes receivable $3,400; Equipment $103,000; Factory Building $194,000; Intangible assets $7,400; Accounts payable $28,600; Accrued liabilities payable $3,300; Short-term notes payable $16,800; Long-term notes payable $99,000; Common stock $194,000; Retained earnings $73,300. What is Pioneer's current ratio

If Chelsea decides to wait two years
before making the down payment,
instead of one, how much money
will she have after two years?

why the feedback form is so important for the trainer and the training itself?​

Jasper Furnishings has $300 million in sales. The company expects that its sales will increase 12% this year. Jasper's CFO uses a simple linear regression to forecast the company's inventory level for a given level of projected sales. On the basis of recent history, the estimated relationship between inventories and sales (in millions of dollars) is as follows:

Inventories=$25+0.125(Sales).

Given the estimated sales forecast and the estimated relationship between inventories and sales, what are your forecasts of the company’s year-end inventory level and its inventory turnover ratio?

[The following information applies to the questions displayed below.]
The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances:
Accounts Debits Credits
Cash $ 41,500
Accounts Receivable 25,700
Land 110,800
Accounts Payable 15,300
Notes Payable (due in 2 years) 30,000
Common Stock 100,000
Retained Earnings 32,700
Totals $ 178,000 $178,000
The following is a summary of the transactions for the year:
1. January 12 Provide services to customers on account, $62,400.
2. February 25 Provide services to customers for cash, $75,300.
3. March 19 Collect on accounts receivable, $45,700.
4. April 30 Issue shares of common stock in exchange for $30,000 cash.
5. June 16 Purchase supplies on account, $12,100.
6. July 7 Pay on accounts payable, $11,300.
7. September30 Pay salaries for employee work in the current year, $64,200.
8. November 22 Pay advertising for the current year, $22,500.
9. December 30 Pay $2,900 cash dividends to stockholders.
The following information is available for the adjusting entries.
Accrued interest on the notes payable at year-end amounted to $2,500 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,500 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,300.
Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

state three essential characteristics of a good leaders​

Three friends are trying to decide what to do on Saturday night. The options are to go to a party, go see a play, or hang out at their apartment. Abdul prefers to see a play over going to the party, which he prefers to hanging out. Gina prefers to hang out over seeing a play, which she prefers to going to the party. Shaquille would most like to go to the party, his second choice is to hang out, and the play is his least preferred option. In the spirit of democracy, they decide to vote on their options. In a three-way vote, they each vote for a different choice, leading to a tie and failing to solve their problem. They thus decide to consider the options in pairs.
(1 point) Shaquille suggests that they first vote on hanging out versus going to the play and then vote on the winner of that versus going to the party. Which option will be chosen?
Choose one:
A. Go to the play.
B. Go to the party.
C. Hang out.

You are considering investing $1,000 in a T-bill that pays 0.05 and a risky portfolio, P, constructed with 2 risky securities, X and Y. The weights of X and Y in P are 0.60 and 0.40, respectively. X has an expected rate of return of 0.14 and variance of 0.01, and Y has an expected rate of return of 0.10 and a variance of 0.0081. If you want to form a portfolio with an expected rate of return of 0.10, what percentages of your money must you invest in the T-bill, X, and Y, respectively if you keep X and Y in the same proportions to each other as in portfolio P

On January 1, Year 1, Poultry Processing Company purchased a freezer and related installation equipment for $69,600. The equipment had a three-year estimated life with a $4,500 salvage value. Straight-line depreciation was used. At the beginning of Year 3, Poultry Processing revised the expected life of the asset to four years rather than three years. The salvage value was revised to $3,500.
Required Compute the depreciation expense for each of the four years, Year 1-Year 4
Depreciation Expense
Year 1
Year 2
Year 3
Year 4

The following preliminary unadjusted trial balance of Ranger Co., sports ticket agency, Errors in trial balance
Ranger Co. Unadjusted
Trial Balance
August 31, 2014
Debit balance Credit Balances
Cash 77600
Accounts Receivable. 377500
Prepaid Insurance 12000
Equipment.. 19000
Accounts Payable 29100
Unearned Rent..... 10800
Carmen Meeks, Capital 110000
Carmen Meeks, Drawing. 13,000
Service Revenue 385000
Wages 213000
Expense
Advertising Expense.. 16350
Miscellaneous Expense 18,400
273,700 668,300
When the ledger and other records are reviewed, you discover the following:
(1) the debits and credits in the cash account total $77,600 and $62,100, respectively;
(2) a billing of $9,000 to a customer on account was not posted to the accounts receivable account
(3) a payment of $4,500 made to a creditor on account was not posted to the accounts payable accOunt;
(4) the balance of the unearned rent account is $5,400;
(5) the correct balance of the equipment account is $190,000; and
(6) each account has a normal balance.
Prepare a corrected unadjusted trial balance.

What do you think is the most important skill a judge can possess

Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019:

April May June
Credit sales $403,000 $352,000 $440,000
Credit purchases 180,000 168,000 201,000
Cash disbursements
Wages, taxes
and expenses 79,800 75,300 104,000
Interest 9,500 9,500 9,500
Equipment purchases 33,500 6,000 148,000

The company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of the sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $330,000.

Using this information, complete the following cash budget.

April May June
Beginning cash balance $110,000
Cash receipts
Cash collections from credit sales
Total cash available
Cash disbursements
Purchases $172,000
Wages, taxes, and expenses
Interest
Equipment purchases
Total cash disbursements
Ending cash balance