Show the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by selecting the amount and indicating whether it is an addition (+) or a subtraction (−). column headings reflect the expanded balance sheet equation; items that affect net income should not be shown as affecting owners' equity. in some cases, only one column may be affected because all of the specific accounts affected by the transaction are included in that category. transaction a has been completed as an illustration. a. provided services to a client on account; revenues totaled $550.b. paid an insurance premium of $360 for the coming year. an asset, prepaid insurance, was debited. c. recognized insurance expense for one month from the premium transaction in b via a reclassification adjusting entry. d. paid $800 of wages accrued at the end of the prior month. e. paid $2,600 of wages for the current month. f. accrued $600 of wages at the end of the current month. g. received cash of $1,500 on accounts receivable accrued at the end of the prior month. assets = liabilties + stockholders equity net incomea = + b = + c = + d = + e = + f = + g = +

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You operate a small advertising agency. you employ two secretaries, a graphic designer, three sales representatives, and an office coordinator. 1. what types of things would you consider when determining how to compensate each position? describe two (2) considerations. 2. what type of compensation plan would you use for each position?

Cardinal company is considering a project that would require a $2,725,000 investment in equipment with a useful life of five years. at the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. the company’s discount rate is 14%. the project would provide net operating income each year as follows: sales $2,867,000 variable expenses 1,125,000 contribution margin 1,742,000 fixed expenses: advertising, salaries, and other fixed out-of-pocket costs $706,000 depreciation 465,000 total fixed expenses 1,171,000 net operating income $571,000 1. which item(s) in the income statement shown above will not affect cash flows? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. any boxes left with a question mark will be automatically graded as incorrect.) (a)sales (b)variable expenses (c) advertising, salaries, and other fixed out-of-pocket costs expenses (d) depreciation expense 2. what are the project’s annual net cash inflows? 3.what is the present value of the project’s annual net cash inflows? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 4.what is the present value of the equipment’s salvage value at the end of five years? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 5.what is the project’s net present value? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.)