On december 31, 2012, oakbrook inc. rendered services to begin corporation at an agreed priceof $102,049, accepting $40,000 down and agreeing to accept the balance in four equal installments of $20,000 receivable each december 31. an assumed interest rate of 11% is imputed.

instructions
prepare the entries that would be recorded by oakbrook inc. for the sale and for the receipts and interest on the following dates. (assume that the effective-interest method is used for amortization purposes.)

(a) december 31, 2012.
(b) december 31, 2014.
(c) december 31, 2016.
(d) december 31, 2013.
(e) december 31, 2015.

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be:

Which of the following is one of the five fundamental questions? which products will be in scarce supply and which in excess supply? who should appoint the head of the central bank? how much should society save? correct what goods and services will be produced?