Prepare journal entries to record the following merchandising transactions of Zhang's, which uses the perpetual inventory system and the gross method. (Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts
Payable-Turner.)

July 1 Purchased merchandise from Turner Company for $11,800 under credit terms of 1/15, n/30, FOB shipping point, invoice dated
July 1.
July 2 Sold merchandise to Hall Company for $3,800 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The
merchandise had cost $2,280.
July 3 Paid $1,285 cash for freight charges on the purchase of July 1.
July 8 Sold merchandise that had cost $4,500 for $7,500 cash.
July 9 Purchased merchandise from Clinton Company for $5,100 under credit terms of 2/15, n/60, FOB destination, invoice dated July
9.
July 11 Returned $1,000 of merchandise purchased on July 9 from Clinton Company and debited its account payable for that amount.
July 12 Received the balance due from Hall Company for the invoice dated July 2, net of the discount.
July 16 Paid the balance due to Turner Company within the discount period.
July 19 Sold merchandise that cost $4,900 to Thompson Company for $7,000 under credit terms of 2/15, n/60, FOB shipping point,
invoice dated July 19.
July 21 Gave a price reduction (allowance) of $1,400 to Thompson Company for merchandise sold on July 19 and credited Thompson's
accounts receivable for that amount.
July 24 Paid Clinton Company the balance due, net of discount.
July 30 Received the balance due from Thompson Company for the invoice dated July 19, net of discount.
July 31 Sold merchandise that cost $7,700 to Hall Company for $12,800 under credit terms of 2/10, n/60, FOB shipping point, invoice
dated July 31.

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Ursus, inc., is considering a project that would have a five-year life and would require a $1,650,000 investment in equipment. at the end of five years, the project would terminate and the equipment would have no salvage value. the project would provide net operating income each year as follows (ignore income taxes.):

Table 1. shows the expected demand for the dvd at different suggested donation levels, and they can act as a single-price monopolist if they choose to. thereceipts will be used to fund gstcg supplies for their data collection and conservation work. at the end of each sea turtle nesting season, any excess funds are donated by the gstcg to a local non-profit sea turtle research and rehabilitation facility. table 1 suggested anticipated total marginal profit donation per number of dvd revenue revenue dvd request requests $19.00 0 $15.00 2 $9.50 4 $7.75 10 $3.00 15 $0.00 20 a. complete table 1 by computing the total revenue, marginal revenue, and profit columns. b. the president wants the gstcg to provide videos to generate the most possible donations (total revenue). what price, if any, is the president of the gstcg favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. c. the education outreach committee wants the gstcg to provide videos to the highest possible number of people. what price, if any, is the educational outreach committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. d. the treasurer of the gstcg wants the dvd program to be as efficient as possible so that the marginal revenue equals marginal cost. what price, if any, is the treasurer favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. e. the fundraising committee wants the dvd program to generate as much profit in donations as possible. what price, if any, is the fundraising committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer.