Emily is in the 35% marginal tax bracket. she can purchase a york county school bond yielding 3.5%
interest and the interest is not subject to a 5% state tax. but she is interested in earning a higher return
for comparable risk. which of the following is correct:
a. if she buys a corporate bond that pays 6% interest, her after-tax rate of return will be less than if
she purchased the york county school bond.
b. if she buys a u. s. government bond paying 5%, her after-tax rate of return will be less than if
she purchased the york county school bond.
c. if she buys a common stock paying a 4% dividend, her after-tax rate of return will be higher
than if she purchased the york county school bond.
d. all of these are correct.
e. none of these are correct.

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."