Business, 09.09.2019 22:30 alizeleach0123

Big sky sports sells hunting and fishing equipment and provides guided hunting and fishing trips. big sky sports is owned and operated by joe flannery, a well-known sports enthusiast and hunter. joe’s wife, pam, owns and operates glacier boutique, a women’s clothing store. joe and pam have established a trust fund to finance their children’s college education. the trust fund is maintained by kalispell state bank in the name of the children, trey and brooke.
a. for each of the following transactions, identify which of the entities listed should record the transaction in its records:
glacier boutique
kalispell state bank
big sky sports
none of the above
1. pam deposited a $2,000 personal check in the trust fund at kalispell state bank.
2. pam purchased two dozen spring dresses from a spokane designer for a special spring sale.
3. joe paid a breeder’s fee for an english springer spaniel to be used as a hunting guide dog.
4. pam authorized the trust fund to purchase mutual fund shares.
5. joe paid a local doctor for his annual physical, which was required by the workmen’s compensation insurance policy carried by big sky sports.
6. received a cash advance from customers for a guided hunting trip.
7. pam paid her dues to the ywca.
8. pam donated several dresses from inventory for a local charity auction for the benefit of a women’s abuse shelter.
9. joe paid for dinner and a movie to celebrate their thirtieth wedding anniversary.
10. joe paid for an advertisement in a hunters’ magazine.
b. what is a business transaction?

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 01:30

Iam trying to get more members on my blog. how do i do this?

Answers: 3

Answer

Business, 22.06.2019 08:40

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.

Answers: 1

Answer

Business, 22.06.2019 11:00

T-comm makes a variety of products. it is organized in two divisions, north and south. the managers for each division are paid, in part, based on the financial performance of their divisions. the south division normally sells to outside customers but, on occasion, also sells to the north division. when it does, corporate policy states that the price must be cost plus 20 percent to ensure a "fair" return to the selling division. south received an order from north for 300 units. south's planned output for the year had been 1,200 units before north's order. south's capacity is 1,500 units per year. the costs for producing those 1,200 units follow

Answers: 1

Answer

Business, 22.06.2019 11:40

Define the marginal rate of substitution between two goods (x and y). if a consumer’s preferences are given by u(x,y) = x3/4y1/4, compute the consumer’s marginal rate of substitution as a function of x and y. calculate the mrs if the consumer has chosen to consumer 48 units of x and 16 units of y. show your work. (use the back of the page if necessary.

Answers: 3

Answer

You know the right answer?

Big sky sports sells hunting and fishing equipment and provides guided hunting and fishing trips. bi...

Questions