At the end of its first month of operations, michael’s consulting services reported net income of $25,000. they also had account balances of: cash, $18,000; office supplies, $2,000 and accounts receivable $10,000. the sole stockholder’s total investment in exchange for common stock for this first month was $5,000. there were no dividends in the first month. calculate the amount of total equity to be reported on the balance sheet at the end of the month.

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond

Who is not spending wisely? erika goes shopping and saves her receipts. she totals how much she spent and writes it down. mia needs to buy a new pair of shoes because she joined the soccer team. she looks at newspaper ads to find the best price. lauren has been thinking about getting a puppy for a long time. she walks by the pet store at the mall and decides to get a puppy. erin makes a purchase online using a credit card. she knows that she can pay the entire bill when it arrives.

If jobs have been undercosted due to underallocation of manufacturing overhead, then cost of goods sold (cogs) is too low and which of the following corrections must be made? a. decrease cogs for double the amount of the underallocation b. increase cogs for double the amount of the underallocation c. decrease cogs for the amount of the underallocation d. increase cogs for the amount of the underallocation