Presented below is the trial balance of Hightower Corporation on December 31, 2017. Debit Credit
Cash 295,000
Sales Revenue $12,150
Debt Investments (trading) (at cost, $218,000) 230,000
Cost of Goods Sold 7,200
Debt Investments (long-term) 448,000
Equity Investments (long-term) 416,000
Notes Payable (short-term) 135,000
Accounts Payable 682,000
Selling Expenses 3,000,000
Investment Revenue 95,000
Land 390,000
Buildings 1,560,000
Dividends Payable 204,000
Accrued Liabilities 144,000
Accounts Receivable 652,000
Accumulated Depreciation-Buildings 228,000
Allowance for Doubtful Accounts 38,000
Administrative Expenses 1,350,000
Interest Expense 317,000
Inventory 895,000
Gain 120,000
Notes Payable (long-term) 1,350,000
Equipment 900,000
Bonds Payable 1,500,000
Accumulated Depreciation-Equipment 90,000
Franchises 240,000
Common Stock ($5 par) 1,500,000
Treasury Stock 287,000
Patents 293,000
Retained Earnings 117,000
Paid-in Capital in Excess of Par 120,000
Totals $18,473,000 $18,473,000
Transform the trial balance into a balance sheet
.Instructions:
Compute each of the following:
1. Total current assets
2. Total property, plant, and equipment
3. Total assets
4. Total liabilities
5. Total stockholders’ equity

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.

Acountry made education free in mandatory up to age 15. it is established 100 new schools to educate kids across the country. as a result, citizens acquired the _ required to work. the school's generated _ for teachers and other staff. in 20 years, to countryside rapid _ and its gdp.

Consider the following two projects. both have costs of $5,000 in year 1. project 1 provides benefits of $2,000 in each of the first four years only. the second provides benefits of $2,000 for each of years 6 to 10 only. compute the net benefits using a discount rate of 6 percent. repeat using a discount rate of 12 percent. what can you conclude from this exercise?