Water closet co. wholesales bathroom fixtures. during the current year ending december 31, water closet received the following notes:
date face amount term interest rate
1. mar. 6 $75,000 60 days 4%
2. apr. 7 40,000 45 days 6%
3. aug. 12 36,000 120 days 5%
4. oct. 22 27,000 30 days 8%
5. nov. 19 48,000 90 days 3%
6. dec. 15 72,000 45 days 5%
required:
1. determine for each note: (a) the due date and (b) the amount of interest due at maturity, identifying each note by number. assume a 360-day year.
2. journalize the entry to record the dishonor of note (3) on its due date. refer to the chart of accounts for exact wording of account titles. 3. journalize the adjusting entry to record the accrued interest on notes (5) and (6) on december 31. refer to the chart of accounts for exact wording of account titles. assume a 360-day year.
4. journalize the entries to record the receipt of the amounts due on notes (5) and (6) in january and february. refer to the chart of accounts for exact wording of account titles.

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Suppose general motors demands labor according to the labor demand function 푤푤= 40−0. 5퐸퐸, where 푤푤 is the hourly wage and 퐸퐸 is the number of employees. the united auto workers union has a utility function given by 푈푈=푊푊∗퐸퐸. a.in 1984, the united auto workers union started negotiations with general motors by assuming that they were a monopoly union. find the wage and employment demands that the united auto workers union would have demanded before any bargaining began. b.if general motors and the united auto workers union both had excellent bargaining representatives, would this be the final labor contract? if not, then explain in words and graphically where they would end up after the bargaining process.

Presented below is a list of possible transactions. analyze the effect of the 18 transactions on the financial statement categories indicated. transactions assets liabilities owners’ equity net income 1. purchased inventory for $80,000 on account (assume perpetual system is used). 2. issued an $80,000 note payable in payment on account (see item 1 above). 3. recorded accrued interest on the note from item 2 above. 4. borrowed $100,000 from the bank by signing a 6-month, $112,000, zero-interest-bearing note. 5. recognized 4 months’ interest expense on the note from item 4 above. 6. recorded cash sales of $75,260, which includes 6% sales tax. 7. recorded wage expense of $35,000. the cash paid was $25,000; the difference was due to various amounts withheld. 8. recorded employer’s payroll taxes. 9. accrued accumulated vacation pay. 10. recorded an asset retirement obligation. 11. recorded bonuses due to employees. 12. recorded a contingent loss on a lawsuit that the company will probably lose. 13. accrued warranty expense (assume expense warranty approach). 14. paid warranty costs that were accrued in item 13 above. 15. recorded sales of product and related service-type warranties. 16. paid warranty costs under contracts from item 15 above. 17. recognized warranty revenue (see item 15 above). 18. recorded estimated liability for premium claims outstanding.