North corp. has an employee benefit plan for compensated absences that gives employees 10 paid vacation days and 10 paid sick days. both vacation and sick days can be carried over indefinitely. employees can elect to receive payment in lieu of vacation days; however, no payment is given for sick days not taken. at december 31, 2013, north's unadjusted balance of liability for compensated absences was $21,000. north estimated that there were 150 vacation days and 75 sick days available at december 31, 2013. north's employees earn an average of $100 per day. in its december 31, 2013, balance sheet, what amount of liability for compensated absences is north required to report? a. $15,000b. $21,000c. $22,500d. $36,000

The following balance sheet for the los gatos corporation was prepared by a recently hired accountant. in reviewing the statement you notice several errors. los gatos corporation balance sheet at december 31, 2018 assets cash $ 44,000 accounts receivable 86,000 inventories 57,000 machinery (net) 122,000 franchise (net) 32,000 total assets $ 341,000 liabilities and shareholders' equity accounts payable $ 54,000 allowance for uncollectible accounts 7,000 note payable 59,000 bonds payable 112,000 shareholders' equity 109,000 total liabilities and shareholders' equity $ 341,000 additional information: cash includes a $22,000 restricted amount to be used for repayment of the bonds payable in 2022. the cost of the machinery is $194,000. accounts receivable includes a $22,000 note receivable from a customer due in 2021. the note payable includes accrued interest of $7,000. principal and interest are both due on february 1, 2019. the company began operations in 2013. income less dividends since inception of the company totals $37,000. 52,000 shares of no par common stock were issued in 2013. 200,000 shares are authorized. required: prepare a corrected, classified balance sheet. (amounts to be deducted should be indicated by a minus sign.)

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

On coral island in 2012, the labor force is 12,000, the unemployment rate is 10 percent, and the labor force participation rate is 60 percent. during 2013, 200 unemployed people found jobs and the working-age population increased by 1,000. the total number of people in the labor force did not change. the working-age population at the end of 2013 was the unemployment rate at the end of 2013 was round up to the second decimal. the labor force participation rate at the end of 2013 was round up to the second decimal.