Compare the cash and accrual methods of accounting for the following events:

A. Purchased new equipment, paying $50,000 cash and giving a not payable for $30,000 due next year.

B. Paid $3,600 for a three-year service contract on the new equipment.

C. Colleted $1,800 for services to be provided over the current and following years.

D. Received a $3,000 note from a customer for services provided in the current year. The market value of the note was only $2,400.

Northington, inc. is preparing the company's statement of cash flows for the fiscal year just ended. using the following information, determine the amount of cash flows from operating activities using the indirect method: net income$182,000gain on the sale of equipment12,300proceeds from the sale of equipment92,300depreciation expense—equipment50,000payment of bonds at maturity100,000purchase of land200,000issuance of common stock300,000increase in merchandise inventory35,400decrease in accounts receivable28,800increase in accounts payable23,700payment of cash dividends32,000 $189,400.$332,200.$236,800.$261,400.$186,800.

Select the statement that indicates tina's company is a partnership. tina jones is a dancer specializing in latin dance styles. she always wanted to have her own dance studio where she could teach dancing to young and old alike. in 2006, she opened her first dance studio, electric diva, in madison triangle. it was a great choice as a business location because it's well-connected by highways to most places in the city. she leased the space for three years. her initial investment included a good sound system, cheerful interior design, and strong flooring. to raise capital for the business, tina turned to her brother-in-law, philip. philip made half the financial investment. he manages the accounts and social media needs of the business. he has a 30% share in trisha's business. together, they expanded the business to three dance studios in the city and plan to open franchises in other cities.

Which of the following comes after a period of recession in the business cycle? a. stagflation b. a drought c. a boom d. recovery