Zenith steel company operates a prosperous business. in january, zenith’s ceo and president, roe, who is also a member of the board of directors, was voted a $1 million bonus by the board of directors for valuable services he provided to the company during the previous year. roe received an annual salary of $850,000 from the company. black, inc., a minority shareholder in zenith steel company, brings an appropriate action to enjoin the payment by the company of the $1 million bonus. explain whether black will succeed in its attempt.

Assume that all of thurmond company’s sales are credit sales. it has been the practice of thurmond company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. for the year 20x1 the company had net credit sales of $2,021,000 and the allowance for doubtful accounts account had a credit balance, before adjustments, of $630 as of december 31, 20x1. during 20x2, the following selected transactions occurred: jan. 20 the account of h. scott, a deceased customer who owed $325, was determined to be uncollectible and was therefore written off. mar. 16 informed that a. nettles, a customer, had been declared bankrupt. his account for $898 was written off. apr. 23 the $906 account of j. kenney & sons was written off as uncollectible. aug. 3 wrote off as uncollectible the $750 account of clarke company. oct. 20 wrote off as uncollectible the $1,130 account of g. michael associates. oct. 27 received a check for $325 from the estate of h. scott. this amount had been written off on january 20 of the current year. dec. 20 cater company paid $7,000 of the $7,500 it owed thurmond company. since cater company was going out of business, the $500 balance it still owed was deemed uncollectible and written off. required: prepare journal entries for the december 31, 20x1, and the seven 20x2 transactions on the work sheets provided at the back of this unit. then answer questions 8 and 9 on the answer sheet. t-accounts are also provided for your use in answering these questions. 8. which one of the following entries should have been made on december 31, 20x1?

Suppose the government enacts a stimulus program composed of $600 billion of new government spending and $300 billion of tax cuts for an economy currently producing a gdp of $14 comma 000 billion. if all of the new spending occurs in the current year and the government expenditure multiplier is 1.5, the expenditure portion of the stimulus package will add nothing percentage points of extra growth to the economy. (round your response to two decimal places.)

Oz makes lion food out of giraffe and gazelle meat. giraffe meat has 18 grams of protein and 36 grams of fat per pound, while gazelle meat has 36 grams of protein and 18 grams of fat per pound. a batch of lion food must contain at least "46,800" grams of protein and 70,200 grams of fat. giraffe meat costs $1/pound and gazelle meat costs $2/pound. how many pounds of each should go into each batch of lion food in order to minimize costs? hint [see example 2.]