On May 1, Anders Company purchased merchandise in the amount of $5,800 from Shilling, with credit terms of 2/10, n/30. Anders uses the perpetual inventory system and the gross method. The journal entry or entries that Anders will make on May 1 is:.Purchases 5800Accounts payable 5800

On january 1, 2017, fisher corporation purchased 40 percent (90,000 shares) of the common stock of bowden, inc. for $980,000 in cash and began to use the equity method for the investment. the price paid represented a $48,000 payment in excess of the book value of fisher's share of bowden's underlying net assets. fisher was willing to make this extra payment because of a recently developed patent held by bowden with a 15-year remaining life. all other assets were considered appropriately valued on bowden's books. bowden declares and pays a $90,000 cash dividend to its stockholders each year on september 15. bowden reported net income of $400,000 in 2017 and $348,000 in 2018. each income figure was earned evenly throughout its respective year. on july 1, 2018, fisher sold 10 percent (22,500 shares) of bowden's outstanding shares for $338,000 in cash. although it sold this interest, fisher maintained the ability to significantly influence bowden's decision-making process. prepare the journal entries for fisher for the years of 2017 and 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your final answers to the nearest whole dollar.)

In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills.what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i.e, his fifth year, not his junior year).

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?