The following information is provided for Bill Plumbing Supply: Cash received from customers during December 2020: $387,000 Cash paid to suppliers for inventory during December 2020: $131,000 Cash received from customers includes November accounts receivable of $139,000. Sales totaling $141,000 were made on account during December and are expected to be collected in January 2021. Cash paid to suppliers in December included payments of $19,000 for inventory purchased and used in November. All inventory purchased in December, and $39,000 of inventory purchased in November was used in December. Required: What is the gross margin for the month of December under accrual accounting?

Problem 9-5. net present value and taxes [lo 1, 2] penguin productions is evaluating a film project. the president of penguin estimates that the film will cost $20,000,000 to produce. in its first year, the film is expected to generate $16,500,000 in net revenue, after which the film will be released to video. video is expected to generate $10,000,000 in net revenue in its first year, $2,500,000 in its second year, and $1,000,000 in its third year. for tax purposes, amortization of the cost of the film will be $12,000,000 in year 1 and $8,000,000 in year 2. the company’s tax rate is 35 percent, and the company requires a 12 percent rate of return on its films. required what is the net present value of the film project? to simplify, assume that all outlays to produce the film occur at time 0. should the company produce the film?

Read the following paragraph, and choose the best revision for one of its sentences.dr. blake is retiring at the end of the month. there will be an unoccupied office upon his departure, and it is big in size. because every other office is occupied, we should convert dr. blake’s office into a lounge. it is absolutely essential that this issue is discussed at the next staff meeting. (a) because every other office is occupied, it’s recommended that we should convert dr. blake’s office into a lounge. (b) because every other office is filled, we should convert dr. blake’s office into a lounge.

Your own record of all your transactions. a. check register b. account statement