The following transactions pertain to year 1, the first-year operations of Solomon Company. All inventory was started and completed during year 1. Assume that all transactions are cash transactions.
Acquired $4,800 cash by issuing common stock.
Paid $640 for materials used to produce inventory.
Paid $1,810 to production workers.
Paid $1,620 rental fee for production equipment.
Paid $80 to administrative employees.
Paid $113 rental fee for administrative office equipment.
Produced 370 units of inventory of which 250 units were sold at a price of $14 each.
Required:a) Prepare an income statement and a balance sheet in accordance with GAAP.

Your parents have accumulated a $170,000 nest egg. they have been planning to use this money to pay college costs to be incurred by you and your sister, courtney. however, courtney has decided to forgo college and start a nail salon. your parents are giving courtney $20,000 to her get started, and they have decided to take year-end vacations costing $8,000 per year for the next four years. use 8 percent as the appropriate interest rate throughout this problem. use appendix a and appendix d for an approximate answer, but calculate your final answer using the formula and financial calculator methods. a. how much money will your parents have at the end of four years to you with graduate school, which you will start then?

On january 1, vermont corporation had 40,000 shares of $10 par value common stock issued and outstanding. all 40,000 shares has been issued in a prior period at $20.00 per share. on february 1, vermont purchased 3,750 shares of treasury stock for $24 per share and later sold the treasury shares for $21 per share on march 1. the journal entry to record the purchase of the treasury shares on february 1 would include a credit to treasury stock for $90,000 debit to treasury stock for $90,000 credit to a gain account for $112,500 debit to a loss account for $112,500

Alocal barnes and noble bookstore ordered 80 marketing books but received 60 books. what percent of the order was missing?