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When calculating the bountiful returns that retirees allegedly would glean from stock investments, privateers use rosy projections about a continually booming market. but when predicting bankruptcy for social security, they switch to pessimistic projections of a low-growth economy with abnormally low payments into the fund. in fact, far from going broke, social security produces enormous surpluses. from __ to americans paid more in social security taxes than were paid out in benefits. according to the congressional budget office, the social security trust fund will remain solvent until at least social security is the only federal program that produces about $150 billion yearly surplus, the only program that shows every sign of being selfsupporting and solvent for over thirty years to come yet is repeatedly described by its enemies as being in danger of insolvency?

On january 1, 2018, red flash photography had the following balances: cash, $19,000; supplies, $8,700; land, $67,000; deferred revenue, $5,700; common stock $57,000; and retained earnings, $32,000. during 2018, the company had the following transactions: 1. february 15 issue additional shares of common stock, $27,000. 2. may 20 provide services to customers for cash, $42,000, and on account, $37,000. 3. august 31 pay salaries to employees for work in 2018, $30,000. 4. october 1 purchase rental space for one year, $19,000. 5. november 17 purchase supplies on account, $29,000. 6. december 30 pay dividends, $2,700. the following information is available on december 31, 2018: 1. employees are owed an additional $4,700 in salaries. 2. three months of the rental space has expired. 3. supplies of $5,700 remain on hand. 4. all of the services associated with the beginning deferred revenue have been performed.required: 1. record the transactions that occurred during the year.2. record the adjusting entries at the end of the year.3. prepare an adjusted trial balance.4. prepare an income statement, statement of stockholders’ equity, and classified balance sheet.5. prepare closing entries.

Match each item to check for while reconciling a bank account with the document to which it relates. (there's not just one answer) 1. balancing account statement 2. balancing check register a. nsf fees b. deposits in transit c. interest earned d. bank errors