The revenues and expenses of sentinel travel service for the year ended august 31, 2019, follow: fees earned $935,665 office expense 215,205 miscellaneous expense 18,715 wages expense 449,120 prepare an income statement for the year ended august 31, 2019.

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable

Suppose the following items were taken from the balance sheet of nike, inc. (all dollars are in millions.) 1. cash $ 2,316.7 7. inventory $ 2,245.6 2. accounts receivable 2,786.2 8. income taxes payable 80.3 3. common stock 2,841.1 9. equipment 1,783.8 4. notes payable 291.2 10. retained earnings 6,162.5 5. buildings 3,959.7 11. accounts payable 2,624.6 6. mortgage payable 1,092.3 perform each of the following. classify each of these items as an asset, liability, or stockholders’ equity, and determine the total dollar amount for each classification. (enter amounts in millions up to 1 decimal place, e.g. 45.5 million.) cash accounts receivable common stock notes payable buildings mortgage payable inventory income taxes payable equipment retained earnings accounts payable assets $ 13092 liability $ 4088.4 stockholders’ equity $ 9003.6 etextbook and media determine nike’s accounting equation by calculating the value of total assets, total liabilities, and total stockholders’ equity. (enter amounts in millions up to 1 decimal place, e.g. 45.5 million.) total assets = total liabilities + total stockholders’ equity

Allie and sarah decided that they want to purchase renters insurance for the apartment they share. they made a list of all of the items to be covered by the insurance policy, along with their estimated values. if the items to be covered total more than $3000, the insurance company charges an annual premium of 23% of the total value of the items. if the items to be covered total $3000 or less, the insurance company charges an annual premium of 20% of the total value of the items.