Pierce company sold to stanton company merchandise on account fob shipping point, 2/10, net 30, for $20,000. pierce prepaid the $500 shipping charge. which of the following entries does pierce make to record this sale? a. accounts receivable-stanton, debit $20,100; sales, credit $20,100 b. accounts receivable-stanton, debit $19,600; sales, credit $19,600, and accounts receivable-stanton, debit $500; cash, credit $500 c. accounts receivable-stanton, debit $20,000; sales, credit $20,000, and delivery expense, debit $500; cash, credit $500 d. accounts receivable-stanton, debit $20,000; sales, credit $20,000

Assume the government imposes a $2.25 tax on suppliers, which results in a shift of the supply curve from s1 to s2. the price the seller receives for the product after paying the tax is

You have just been hired as a financial analyst for barrington industries. unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. so, your first job will be to recreate the firm's cash flow statement for the year just ended. the firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. it earned $5 million in net income during the year but paid $800,000 in dividends to common shareholders. throughout the year, the firm purchased $5.5 million of machinery that was needed for a new project. you have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $450,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 6% interest rate. what was the firm's end- of-year cash balance? recreate the firm's cash flow statement to arrive at your answer

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer