Adjusting Entries: At December 31, 2020, Mr. Burns Good Old Fashion Cookies made the following adjusting entries.

A1. Mr. Burns recorded the depreciation for the fixed assets. The truck had 50,000 miles at December 31 and has an expected life of 3 years. Round to the nearest dollar. The other assets used double-declining balance. Use one entry for expense portion.

A2. 75% of Mr. Burns Prepaid Rent Expired, 50% of Prepaid Ins Expired

A3. After Physical Inventory Conducted: Balance in plant supplies at year end: $900. Balance in office supplies at year end: $20,000

A4. Income Taxes accrued $70,000. This is to be paid March 15, 2021

A5. Office Salaries accrued $20,000. Wages accrued $15,000

A6. Mr. Burns uses the balance sheet approach to estimate how money he will lose in uncollectible accounts. Since the city of Springfield is in a serve recession, Mr. Smithers estimated for Mr. Burns that 8% of this year ending accounts receivable will be uncollectible.

A7. Two months of the patent have expired.

A8. Mr. Smithers discovered a sale on account earned by not yet recorded, $60,000. Since this amount was discovered after the estimate for uncollectible account, this amount WILL not be included in adjusting entry A6. There were no discount terms

A9. 70% of the unearned sales revenue was earned in 2020

A10 Physical Inventory count results $448,000. The amount is considered immaterial and can be adjusted to Cost of Goods Sold

What cylinder head operation is the technician performing in this figure?

Fanning company is considering the addition of a new product to its cosmetics line. the company has three distinctly different options: a skin cream, a bath oil, or a hair coloring gel. relevant information and budgeted annual income statements for each of the products follow. skin cream bath oil color gel budgeted sales in units (a) 110,000 190,000 70,000 expected sales price (b) $8 $4 $11 variable costs per unit (c) $2 $2 $7 income statements sales revenue (a × b) $880,000 $760,000 $770,000 variable costs (a × c) (220,000) (380,000) (490,000) contribution margin 660,000 380,000 280,000 fixed costs (432,000) (240,000) (76,000) net income $228,000 $140,000 $204,000 required: (a) determine the margin of safety as a percentage for each product. (b) prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. (c) for each product, determine the percentage change in net income that results from the 20 percent increase in sales. (d) assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? (e) assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line?

Cooper sues company a in state court in south carolina, where he lives, for negligence alleging personal injury and property damage of $100,000 after a truck driven by an employee of company a rear-ended his pickup truck. company a is incorporated in delaware, has its headquarters in new york, but does a substantial amount of business in south carolina. claiming diversity of citizenship, company a seeks removal to federal district court, but cooper opposes the motion. which of the following is true regarding whether the case may be properly removed to federal district court? the amount in controversy satisfies diversity requirements; and if company a's nerve center is in a state other than south carolina, then the case may be properly removed to federal court.the amount in controversy satisfies diversity requirements; and because company a is incorporated and has its headquarters in a state other than south carolina, the case may be properly removed to federal court.because the amount in controversy satisfies diversity requirements and company a is incorporated in a state other than south carolina, the case may be properly removed to federal court regardless of where company a's headquarters, nerve center, or principal place of business is located.because the amount in controversy satisfies diversity requirements and company a is headquartered in a state other than south carolina, the case may be properly removed to federal court regardless of where company a is incorporated and regardless of the location of its nerve center.because the amount in controversy fails to satisfy jurisdictional requirements, regardless of the location of company a, the case may not be removed to federal court.