The primary objective of financial accounting is to: Group of answer choices Serve the decision-making needs of internal users. Provide accounting information that serves external users. Monitor and control company activities. Provide information on both the costs and benefits of looking after products and services. Know what, when, and how much product to produce.

Homestead jeans co. has an annual plant capacity of 65,000 units, and current production is 45,000 units. monthly fixed costs are $54,000, and variable costs are $29 per unit. the present selling price is $42 per unit. on november 12 of the current year, the company received an offer from dawkins company for 18,000 units of the product at $32 each. dawkins company will market the units in a foreign country under its own brand name. the additional business is not expected to affect the domestic selling price or quantity of sales of homestead jeans co. a. prepare a differential analysis dated november 12 on whether to reject (alternative 1) or accept (alternative 2) the dawkins order. if an amount is zero, enter zero "0". for those boxes in which you must enter subtracted or negative numbers use a minus sign.

Presented below is a list of possible transactions. analyze the effect of the 18 transactions on the financial statement categories indicated. transactions assets liabilities owners’ equity net income 1. purchased inventory for $80,000 on account (assume perpetual system is used). 2. issued an $80,000 note payable in payment on account (see item 1 above). 3. recorded accrued interest on the note from item 2 above. 4. borrowed $100,000 from the bank by signing a 6-month, $112,000, zero-interest-bearing note. 5. recognized 4 months’ interest expense on the note from item 4 above. 6. recorded cash sales of $75,260, which includes 6% sales tax. 7. recorded wage expense of $35,000. the cash paid was $25,000; the difference was due to various amounts withheld. 8. recorded employer’s payroll taxes. 9. accrued accumulated vacation pay. 10. recorded an asset retirement obligation. 11. recorded bonuses due to employees. 12. recorded a contingent loss on a lawsuit that the company will probably lose. 13. accrued warranty expense (assume expense warranty approach). 14. paid warranty costs that were accrued in item 13 above. 15. recorded sales of product and related service-type warranties. 16. paid warranty costs under contracts from item 15 above. 17. recognized warranty revenue (see item 15 above). 18. recorded estimated liability for premium claims outstanding.

Comprehensive illustrative problem: mira's store on february 1 20a4 mica delaman opened astore that sells school supplies her main customer are the students and teachers of happy students school that is situated in front of her store. mira wanted to know the financial position of mira's store. mira knew you were studying accounting. so she asked for . 1. to start her business mira's opened a checking account in the name of mira's store . the statement of account from the bank shows that the checking account has a balance of 31,535 of december 31,20a4