Use the balance sheets provided to create a Statement of Sources and Uses of Funds for Hipzone Inc. Remember, the basic rules for creating a Statement of Sources and Uses are: A decrease in a liability or owners' equity account represents a use of funds, and an increase in these accounts represents a source of funds. A decrease in an asset account is a source of funds, while an increase is a use of funds. Changes in cash are ignored. Accounts with no change during the year are also ignored.

Acompany using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. defective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be

Net income and owner's equity for four businesses four different proprietorships, jupiter, mars, saturn, and venus, show the same balance sheet data at the beginning and end of a year. these data, exclusive of the amount of owner's equity, are summarized as follows: total assets total liabilities beginning of the year $550,000 $215,000 end of the year 844,000 320,000 on the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (hint: first determine the amount of increase or decrease in owner's equity during the year.) jupiter: the owner had made no additional investments in the business and had made no withdrawals from the business. mars: the owner had made no additional investments in the business but had withdrawn $36,000. saturn: the owner had made an additional investment of $60,000 but had made no withdrawals. venus: the owner had made an additional investment of $60,000 and had withdrawn $36,000. jupiter net income $ mars net income $ saturn net income $ venus net income $

Employees at a library check out books to patrons. books have an isbn and a name. the library sometimes has multiple copies of the same book. books have one or more authors. a patron is an individual who has an active (non-expired) library card. for each library card, we store the person's first and last names and their address. for each employee, we store their employee id, current salary, first and last name and their address. we also store the employee id of their current manager. each time we check out a book to a patron we need to store the date of the transaction, the employee who checked out the book to the patron, and the library card of the patron. some employees have library cards. if an employee patron turns in a book late, the fine that they pay is a percentage of their salary. some employees are authors who have library cards—they are allowed to check out as many books as they like.