On january 1, year 2, lcj rental cars purchased a car that is to be used to produce rental income. the car cost $35,000. it has an expected useful life of five years and a $5,000 salvage value. the car produced rental income of $9,000 per year throughout its useful life. assume lcj started the year 2 accounting period with a beginning cash balance of $40,000. required a-1. prepare an income statement and a statement of cash flows for year 2. a-2. prepare an income statement and a statement of cash flows for year 3. a-3. prepare an income statement and a statement of cash flows for year 4. b. determine the book value of the car for year 2, year 3, and year 4.

Problem 2-18 job-order costing for a service company [lo2-1, lo2-2, lo2-3]speedy auto repairs uses a job-order costing system. the company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 10,000fixed overhead cost $ 90,000variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate.2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 600direct labor cost $ 180direct labor-hours used 2 compute mr. wilkes' total job cost. 3. if speedy establishes its selling prices using a markup percentage of 30% of its total job cost, then how much would it have charged mr. wilkes?

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.

Which is cheaper: eating out or dining in? the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (money.msn website, november 7, 2012). a sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b. using the sample from the 100 restaurants, what is the p-value? c. at a = .05, what is your conclusion? d. repeat the preceding hypothesis test using the critical value approach