Equired information [the following information applies to the questions displayed below.] laker company reported the following january purchases and sales data for its only product. date activities units acquired at cost units sold at retail jan. 1 beginning inventory 160 units @ $ 8.50 = $ 1,360 jan. 10 sales 120 units @ $ 17.50 jan. 20 purchase 100 units @ $ 7.50 = 750 jan. 25 sales 100 units @ $ 17.50 jan. 30 purchase 220 units @ $ 7.00 = 1,540 totals 480 units $ 3,650 220 units for specific identification, ending inventory consists of 260 units, where 220 are from the january 30 purchase, 5 are from the january 20 purchase, and 35 are from beginning inventory. required: 1. prepare comparative income statements for the month of january for laker company for the four inventory methods. assume expenses are $1,450, and that the applicable income tax rate is 40%. 2. which method yields the highest net income? 3. does net income using weighted average fall above, between, or below that using fifo and lifo? 4. if costs were rising instead of falling, which method would yield the highest net income?

What is the most important factor that affects the value of a company? a) cash flow b) earnings c) supply and demand d) number of employees

Assume that all of thurmond company’s sales are credit sales. it has been the practice of thurmond company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. for the year 20x1 the company had net credit sales of $2,021,000 and the allowance for doubtful accounts account had a credit balance, before adjustments, of $630 as of december 31, 20x1. during 20x2, the following selected transactions occurred: jan. 20 the account of h. scott, a deceased customer who owed $325, was determined to be uncollectible and was therefore written off. mar. 16 informed that a. nettles, a customer, had been declared bankrupt. his account for $898 was written off. apr. 23 the $906 account of j. kenney & sons was written off as uncollectible. aug. 3 wrote off as uncollectible the $750 account of clarke company. oct. 20 wrote off as uncollectible the $1,130 account of g. michael associates. oct. 27 received a check for $325 from the estate of h. scott. this amount had been written off on january 20 of the current year. dec. 20 cater company paid $7,000 of the $7,500 it owed thurmond company. since cater company was going out of business, the $500 balance it still owed was deemed uncollectible and written off. required: prepare journal entries for the december 31, 20x1, and the seven 20x2 transactions on the work sheets provided at the back of this unit. then answer questions 8 and 9 on the answer sheet. t-accounts are also provided for your use in answering these questions. 8. which one of the following entries should have been made on december 31, 20x1?

Search engines generate revenue through pay-per-click (each time a user clicks a link to a retailer’s website); pay-per-call (each time a user clicks a link that takes the user to an online agent waiting for a call); or pay-per-conversion (each time a website visitor is converted to a customer)