Indicate which of the following are objectives of financial accounting. (Yes/No)Objectives 1. Provide information that is useful to investors and creditors. 2. Guarantee that businesses will not go bankrupt. 3. Provide information about resources and claims to resources. 4. Prevent competitors from offering lower-priced products. 5. Provide information to help users in predicting future cash flows. 6. Maximize tax revenue to the federal government.

Ashop owner uses a reorder point approach to restocking a certain raw material. lead time is six days. usage of the material during lead time is normally distributed with a mean of 42 pounds and a standard deviation of four pounds. when should the raw material be reordered if the acceptable risk of a stockout is 3 percent?

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.

The adjusted trial balance for china tea company at december 31, 2018, is presented below: