On january 1, kirk corporation had total assets of $425,000. during the month, the following activities occurred: kirk corporation acquired equipment costing $3,000, promising to pay cash for it in 60 days. kirk corporation purchased $1,750 of supplies for cash. kirk corporation sold land, which it had acquired 2 years ago. the land had cost $7,500 and it was sold for $7,500 cash. kirk corporation signed an agreement to rent additional storage space next month at a charge of $500 per month. what is the amount of total assets of kirk corporation at the end of the month? multiple choice $418,750 $428,000 $420,000 $429,750

The simple interest in a loan of $200 at 10 percent interest per year is

You are the owner of a local honda dealership. unlike other dealerships in the area, you take pride in your “no haggle” sales policy. last year, your dealership earned record profits of $1.5 million. however, according to the local chamber of commerce, your earnings were 10 percent less than either of your competitors. in your market, the price elasticity of demand for midsized honda automobiles is 4.5. in each of the last five years, your dealership has sold more midsized automobiles than any other honda dealership in the nation. this entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (msrp) in each year. taking this into account, your marginal cost of a midsized automobile is $11,000. what price should you charge for a midsized automobile if you expect to maintain your record sales?

2. a computer equipment was acquired at the beginning of the year at a cost of $56,000 with an estimated residual value of $5,000, and an estimated useful life of five years. determine the second year’s depreciation expense using the straight-line method.