Costco Wholesale Corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at locations across the U. S. as well as in Canada, the United Kingdom, Japan, Australia, South Korea, Taiwan, Mexico and Puerto Rico. As of its fiscal year-end 2008, Costco had approximately 53.5 million members. Selected fiscal-year information from the company's balance sheets follows. ($ thousands). Selected Balance Sheet Data 20092008
Merchandise inventories $5,039$4,879
Deferred membership income (liability) 748 692
(a) During fiscal 2008, Costco collected $1,562 cash for membership fees. Use the financial statement effects template to record the cash collected for membership fees.
(b) In 2008, Costco recorded $63,503 in merchandise costs (that is, cost of goods sold). Determine the value of merchandise that Costco purchased during fiscal-year 2008. Assume all of Costco's purchases are on credit. Record this transaction in the financial statement effects template

Assume that the governance committee states that all projects costing more than $70,000 must be reviewed and approved by the chief information officer and the it senior leadership team (slt). at this point, the cio has the responsibility to ensure that management processes observe the governance rules. for example, the project team might present the proposed project in an slt meeting for a vote of approval. what does this scenario illustrate about organizational structure?

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Heather has been an active participant in a defined benefit plan for 19 years. during her last 6 years of employment, heather earned $42,000, $48,000, $56,000, $80,000, $89,000, and $108,000, respectively (representing her highest-income years). calculate heather’s maximum allowable benefits from her qualified plan (assume that there are fewer than 100 participants). assume that heather’s average compensation for her three highest years is $199,700. calculate her maximum allowable benefits.