fox corp., an s corporation, had an ordinary loss of $36,500 for the year ended december 31, year 2. at january 1, year 2, duffy owned 50% of fox’s stock. duffy held the stock for 40 days in year 2 before selling the entire 50% interest to an unrelated third party. duffy’s basis for the stock was $10,000. duffy was a full-time employee of fox until the stock was sold. duffy’s share of fox’s loss was:

a) $0

b) $2,000

c) $10,000

d) $18,250

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

Which statement best defines tuition? tuition is federal money awarded to a student. tuition is aid given to a student by an institution. tuition is money borrowed to pay for an education. tuition is the price of attending classes at a school.

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a