Jay is the owner of the business Jay's Supplies and wants to buy a motor vehicle. He has a friend named Kyle who works at Cars R Us and offers Jay a motor vehicle worth
$30,000 for $20,000. Jay decides to buy the motor vehicle to be used in the business
with a bank loan and has an invoice issued.
Jay's Supplies also hasn't been performing well this year and therefore Jay wants to use
a trading period of 2 years for accounting purposes to make the performance look
better.
Answer the following questions using applicable accounting conventions to support your
answers where appropriate;
a) At what price must Jay record the motor vehicle for and why?
b) Can Jay use a 2 year trading period and why/why not?
c) How many accounts are affected in this transaction? Why and what are they?
d) Prove that equality of the accounting equation is maintained.​

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.

Evaluate a real situation between two economic actors; it could be any scenario: two competing businesses, two countries in negotiations, two kids trading baseball cards, you and another person involved in an exchange or anything else. use game theory to analyze the situation and the outcome (or potential outcome). be sure to explain the incentives, benefits and risks each face.

Which three of the following expenses can student aid recover? -tuition -television -school supplies -parties and socializing -boarding/housing