Problem 9-31 (Algorithmic) (LO. 5) Stork Associates paid $73,800 for a 20-seat skybox at Veterans Stadium for eight professional football games. Regular seats to these games range from $90 to $270 each. At one game, an employee of Stork entertained 18 clients. Stork furnished food and beverages for the event at a cost of $4,000. The game was preceded by a bona fide business discussion, and all expenses are adequately substantiated. How much may Stork deduct for this event

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.

Brandt enterprises is considering a new project that has a cost of $1,000,000, and the cfo set up the following simple decision tree to show its three most likely scenarios. the firm could arrange with its work force and suppliers to cease operations at the end of year 1 should it choose to do so, but to obtain this abandonment option, it would have to make a payment to those parties. how much is the option to abandon worth to the firm?

Calculate riverside’s financial ratios for 2014. assume that riverside had $1,000,000 in lease payments and $1,400,000 in debt principal repayments in 2014. (hint: use the book discussion to identify the applicable ratios.)