Selected balance sheet information for the wolf company at november 30, and december 31, 2018, is presented below. the company uses the perpetual inventory system and all sales to customers are made on credit. nov. 30 debits credits dec. 31 debits credits accounts receivable prepaid insurance inventory accounts payable salaries and wages payable 9, 400 4,400 6, 400 2,400 6,900 5,400 11,400 4,400 14,400 2,400.

the following cash flow information also is available:

a. cash collected from credit customers, $74,000

b. cash paid for insurance, $4,400

c. cash paid to suppliers of inventory, $54,000 (the entire accounts payable amounts relate to inventory purchases)

d. cash paid to employees for salaries and wages, $9,400

required: determine the following for the month of december 2. prepare summary journal entries to record the month's sales and cost of those sales.

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.

As you have noticed, the demand for flip phones has drastically reduced, and there are only a few consumer electronics companies selling them at extremely low prices. also, the current buyers of flip phones are mainly categorized under laggards. which of the following stages of the industry life cycle is the flip phone industry in currently? a. growth stage b. maturity stage c. decline stage d. commercialization stage

Russell's study compared gpa of those students who volunteered for academic study skills training and those who did not elect to take the training. he found that those who had the training also had higher gpa. with which validity threat should russell be most concerned?