Following are two income statements for alexis co. for the year ended december 31. the left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. the company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. income statements for year ended december 31 unadjusted adjusted revenues fees earned $ 24,000 $ 30,000 commissions earned 42,500 42,500 total revenues $ 66,500 72,500 expenses depreciation expense—computers 0 1,500 depreciation expense—office furniture 0 1,750 salaries expense 12,500 14,950 insurance expense 0 1,300 rent expense 4,500 4,500 office supplies expense 0 480 advertising expense 3,000 3,000 utilities expense 1,250 1,320 total expenses 21,250 28,800 net income $ 45,250 $ 43,700 analyze the statements and prepare the seven adjusting entries that likely were recorded. hint: entry for a refers to fees that have been earned but not yet billed. none of the entries involve cash.

If a company’s employees are angry about their work, a visiting auditor may also become agitated, illustrating the power of

Exercise 8-6 goods in transit [lo8-2] the kwok company's inventory balance on december 31, 2016, was $190,000 (based on a 12/31/16 physical count) before considering the following transactions: 1. goods shipped to kwok f.o.b. destination on december 20, 2016, were received on january 4, 2017. the invoice cost was $35,000. 2. goods shipped to kwok f.o.b. shipping point on december 28, 2016, were received on january 5, 2017. the invoice cost was $22,000. 3. goods shipped from kwok to a customer f.o.b. destination on december 27, 2016, were received by the customer on january 3, 2017. the sales price was $45,000 and the merchandise cost $27,000. 4. goods shipped from kwok to a customer f.o.b. destination on december 26, 2016, were received by the customer on december 30, 2016. the sales price was $25,000 and the merchandise cost $18,000. 5. goods shipped from kwok to a customer f.o.b. shipping point on december 28, 2016, were received by the customer on january 4, 2017. the sales price was $30,000 and the merchandise cost $17,000. required: determine the correct inventory amount to be reported in kwok's 2016 balance sheet.

Which of the following is a problem for the production of public goods?