For preparing the adjusting entries, the following data were assembled:
•
fees earned but unbilled on november 30 were $9,440.
•
supplies on hand on november 30 were $5,130.
•
depreciation of equipment was estimated to be $6,200 for the year.
•
the balance in unearned fees represented the november 1 receipt in advance for services to be provided. during november, $15,280 of the services were provided.
•
unpaid wages accrued on november 30 were $5,230.
required:
1.
journalize the adjusting entries necessary on november 30, 20y3. refer to the chart of accounts for exact wording of account titles.
2.
determine the revenues, expenses, and net income of trident repairs & service before the adjusting entries.
3.
determine the revenues, expenses, and net income of trident repairs & service after the adjusting entries.
4.
determine the effect of the adjusting entries on retained earnings.
chart of accounts
trident repairs & service
general ledger
assets
11
cash
12
accounts receivable
13
supplies
14
equipment
15
accumulated depreciation-equipment
liabilities
21
accounts payable
22
wages payable
23
unearned fees
equity
31
common stock
32
retained earnings
33
dividends
revenue
41
fees earned
expenses
51
wages expense
52
rent expense
53
supplies expense
54
depreciation expense
56
utilities expense
59
miscellaneous expense

To be able to better compare stock performance within the same industry, similar companies are grouped into? a)market sectors b) industry blocks c) performance sectors d) average earning blocks

Mr. smith recently faced a choice between being (a) an economics profes-sor, which pays $60,000/yr, or (b) a safari leader, which pays $50,000/yr. after careful deliberation, smith took the safari job, but it was a close call. "for a dollar more," he said, "i'd have gone the other way."now smith's brother-in-law approaches him with a business proposition. the terms are as follows: - smith must resign his safari job to work full-time in his brother-in-law's business.- smith must give his brother-in-law an interest-free loan of $100,000, which will be repaid in full if and when smith leaves the business. (smith currently has much more than $100,000 in the the business will pay smith a salary of $70,000/yr. he will receive no other payment from the business.the interest rate is 10 percent per year. apart from salary considerations, smith feels that working in the business would be just as enjoyable as being an economics professor. for simplicity, assume there is no uncertainty regarding either smith's salary in the proposed business or the security of his monetary investment in it. should smith join his brother-in-law and, if so, how small would smith's salary from the business have to be to make it not worthwhile for him to join? if not, how large would smith's salary from the business have to be to make it worthwhile for him to join?

wilson's has 10,000 shares of common stock outstanding at a market price of $35 a share. the firm also has a bond issue outstanding with a total face value of $250,000 which is selling for 102 percent of face value. the cost of equity is 11 percent while the preminustax cost of debt is 8 percent. the firm has a beta of 1.1 and a tax rate of 34 percent. what is wilson's weighted average cost of capital?