Jack hammer company completed the following transactions. the annual accounting period ends december 31. apr. 30 received $600,000 from commerce bank after signing a 12-month, 6 percent, promissory note. june 6 purchased merchandise on account at a cost of $75,000. (assume a perpetual inventory system.) july 15 paid for the june 6 purchase. aug. 31 signed a contract to provide security service to a small apartment complex starting in september, and collected six months’ fees in advance amounting to $24,000. dec. 31 determined salary and wages of $40,000 were earned but not yet paid as of december 31 (ignore payroll taxes). dec. 31 adjusted the accounts at year-end, relating to interest. dec. 31 adjusted the accounts at year-end, relating to security service.

If the government is required to balance the budget and the economy falls into a recession, which of the actions is a feasible policy response? cut taxes to encourage consumer spending invest in infrastructure increase government spending to stimulate the economy cut spending equal to the reduction in tax revenue what is a likely consequence of this policy? unemployment falls due to the economic stimulus. the negative consequences of the recession are magnified. consumer spending increases due to their ability to keep more of their after-tax income. there is hyperinflation due to an increase in aggregate demand.

Nellie lumpkin, who suffered from dementia, was admitted to the picayune convalescent center, a nursing home. because of her mental condition, her daughter, beverly mcdaniel, signed the admissions agreement. it included a clause requiring the par- ties to submit any dispute to arbitration. after lumpkin left the center two years later, she filed a suit against picayune to recover damages for mistreatment and malpractice. [covenant health & rehabilitation of picayune, lp v. lumpkin, 23 so.2d 1092 (miss. app. 2009)] (see page 91.) 1. is it ethical for this dispute—involving negligent medical care, not a breach of a commercial contract—to be forced into arbitration? why or why not? discuss whether medical facilities should be able to impose arbitration when there is generally no bargaining over such terms.

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