During the current year, sedgewick inc. had sales on account of $264,000, cash sales of $108,000, and collections on account of $168,000. in addition, sedgewick company also collected $2,900 from a customer whose account sedgewick company had written off as uncollectible in the prior year. as a result of these transactions, the current year's change in the accounts receivable balance is aa. $201,100 increase. b. $96,000 increase. c. $93,100 increase. d. $204,000 increase.

Prepare beneish corporation's income statement and statement of stockholders' equity for year-end december 31, and its balance sheet as of december 31. there were no stock issuances or repurchases during the year. (do not use negative signs with your answers unless otherwise noted.)

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.

What is one counter argument to the premise that the wealth gap is a serious problem which needs to be addressed?