What accounting assumption, principle, or constraint would target corporation use in each of the situations below? (a) target was involved in litigation over the last year. this litigation is disclosed in the financial statements. select an option (b) target allocates the cost of its depreciable assets over the life it expects to receive revenue from these assets. select an option (c) target records the purchase of a new dell pc at its cash equivalent price.

After all revenue and expense accounts have been closed at the end of the fiscal year, income summary has a debit of $2,450,000 and a credit of $3,000,000. at the same date, retained earnings has a credit balance of $8,222,600, and dividends has a balance of $125,000. required: a. journalize the entries required to complete the closing of the accounts on december 31. refer to the chart of accounts for exact wording of account titles. b. determine the amount of retained earnings at the end of the period.

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?

Arnold rossiter is a 40-year-old employee of the barrington company who will retire at age 60 and expects to live to age 75. the firm has promised a retirement income of $20,000 at the end of each year following retirement until death. the firm's pension fund is expected to earn 7 percent annually on its assets and the firm uses 7% to discount pension benefits. what is barrington's annual pension contribution to the nearest dollar for mr. rossiter? (assume certainty and end-of-year cash flows.)