N May 1, 2020, Goldenrod Co. signed a contract with a client for $144,000 cash based on which Goldenrod agrees to provide consulting services to the client for a subsequent two-year period (i. e., from May 1, 2020 through April 30, 2022). The customer will be billed annually and full payment will be received on May 5, 2022. Assume that Goldenrod has provided consulting services during 2020 and makes any necessary adjusting entries related to this transaction at the end of the fiscal year on Dec. 31.

What adjusting journal entry should Goldenrod make on December 31, 2020?
A. Dr. Cash 72,000
Cr. Service Revenue 72,000
B. Dr. Accounts Receivable 48,000
Cr. Service Revenue 48,000
C. Dr. Unearned Revenue 48,000
Cr. Service Revenue 48,000
D. Dr. Cash 90,000
Cr. Service Revenue 90,000

Anew equipment has been proposed by engineers to increase the productivity of a certain manual welding operation. the investment cost is $25,000, and the equipment will have a market value of $5,000 at the end of a study period of five years. increased productivity attributable to the equipment will amount to $10,000 per year after operating costs have been subtracted from the revenue generated by the additional production. if marr is 10%, is investing in this equipment feasible? use annual worth method.

Information on gerken power co., is shown below. assume the company’s tax rate is 40 percent. debt: 9,400 8.4 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 100.5 percent of par; the bonds make semiannual payments. common stock: 219,000 shares outstanding, selling for $83.90 per share; beta is 1.24. preferred stock: 12,900 shares of 5.95 percent preferred stock outstanding, currently selling for $97.10 per share. market: 7.2 percent market risk premium and 5 percent risk-free rate. required: calculate the company's wacc. (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) wacc %

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.