Rollins and Cohen, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending December 31, 20Y7: The average billing rate for staff is $150 per hour, and the average billing rate for partners is $320 per hour. Prepare a professional fees earned budget for Rollins and Cohen, CPAs, for the year ending December 31, 20Y7, using the following column headings and showing the estimated professional fees by type of service rendered:

Trinity trucking signs a contract with olsen oil to purchase all of the fuel for its fleet of trucks for the next year from olsen at a price of $3.00 per gallon. at the time trinity and olsen sign the contract, the market price for gasoline was $3.25 per gallon, and trinity had an expert report predicting that the price would rise to at least $4.25 per gallon in the upcoming six months. instead, the price dropped to $2.00 per gallon. may trinity rescind the contract with olsen due to its mistaken belief about the future of the price of gasoline?

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

For each of the following users of financial accounting information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both: 1. sec examiner 2. bookkeeping department 3. division controller 4. external auditor (public accounting firm) 5. loan officer at the company's bank 6. state tax agency auditor 7. board of directors 8. manager of the service department 9. wall street analyst 10. internal auditor 11. potential investors 12, current stockholders 13. reporter from the wall street journal 14. regional division managers