On october 6, 2018, the elgin corporation signed a purchase commitment to purchase inventory for $81,000 on or before march 31, 2019. the company's fiscal year-end is december 31. the contract was exercised on march 21, 2019, and the inventory was purchased for cash at the contract price. on the purchase date of march 21, the market price of the inventory was $61,000. the market price of the inventory on december 31, 2018, was $70,000. the company uses a perpetual inventory system.
1. prepare the necessary adjusting journal entry (if any is required) on december 31, 2018
2. prepare the journal entry to record the purchase on march 21, 2019

Your goal is to have $2,000,000. you have a total of $40,000 today. you invest the $40,000 and want to add to it each month. at 10% annual interest, how much do you need to invest each month in order to bring the total up to $2,000,000 30 years from now?

Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.

Double corporation acquired all of the common stock of simple company for