Shankar company uses a perpetual system to record inventory transactions. the company purchases inventory on account on february 2 for $27,000. in addition to the cost of inventory, the company also pays $470 for freight charges associated with the purchase on the same day. record the purchase of inventory on february 2, including the freight charges. (if no entry is required for a particular transaction/event, select "no journal entry required" in the first account field.)

How did lani lazzari show her investors she was a good investment? (site 1)

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.

Right medical introduced a new implant that carries a five-year warranty against manufacturer’s defects. based on industry experience with similar product introductions, warranty costs are expected to approximate 2% of sales. sales were $8 million and actual warranty expenditures were $42,750 for the first year of selling the product. what amount (if any) should right report as a liability at the end of the year?