Bob Ross runs his own home painting business as a sole proprietorship, and he receives payment from his customers immediately when a job is completed. A customer wants a $25,000 paint job to be done in either later December of this year or early January of next year, and Bob has no strong preferences whether he completes the job in December or January (i. e., he has excess capacity and no vacation plans). His marginal tax rate is going to increase from 32% this year to 35% next year, and he can earn an after-tax rate of return of

Diversified semiconductors sells perishable electronic components. some must be shipped and stored in reusable protective containers. customers pay a deposit for each container received. the deposit is equal to the container’s cost. they receive a refund when the container is returned. during 2018, deposits collected on containers shipped were $856,000. deposits are forfeited if containers are not returned within 18 months. containers held by customers at january 1, 2018, represented deposits of $587,000. in 2018, $811,000 was refunded and deposits forfeited were $41,000. required: 1. prepare the appropriate journal entries for the deposits received and returned during 2018. 2. determine the liability for refundable deposits to be reported on the december 31, 2018, balance sheet.

The year-end financial statements of calloway company contained the following elements and corresponding amounts: assets = $34,000; liabilities = ? ; common stock = $6,400; revenue = $13,800; dividends = $1,450; beginning retained earnings = $4,450; ending retained earnings = $8,400. based on this information, the amount of expenses on calloway's income statement was

Heyak believed that the economy could be hard to measure because