M. E. Carter launched Carter Company, a professional services firm on March 1. The firm will prepare financial statements at each month-end. In March (its first month), Carter executed the following transactions. Enter the transactions, a through g, into the financial statement effects template below. A) Carter (owner) invested in the company, $100,000 cash and $20,000 in property and equipment. The company issued common stock for Carter. B) The company paid $3,200 cash for rent of office furnishing and facilities for MarchC) The company performed services for clients and immediately received $4,000 cash earned. D) The company performed services and sent a bill for $24,000 with payment due within 60 daysE) The company compensated an office employee with $4,800 cash as salary for MarchF) The company received $10,000 cash as partial payment on the amount owed from clients in transaction d).G) The company paid $935 cash in dividends to Carter (owner).

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

What is inventory turnover? explain the effect of a high inventory turnover during the christmas shopping season.

If canada has a surplus of paper products produced but its consumers demand more cleaning solutions, and the us has an abundance of cleaning solutions but consumers are demanding more paper products, how would trade benefit both countries? trade would assist both countries by creating excess demand. trade would assist both countries by strengthening their natural resources. trade would assist both countries to both reduce excess supply and satisfy market demand.