The following transactions are july 2014 activities of craig�s bowling, inc., which operates several bowling centers (for games and equipment sales).a. craig�s collected $15,000 from customers for games played in july. b. craig�s sold bowling equipment inventory for $8,000; received $3,000 in cash and the rest on account. [the cost of goods sold (expense) related to these sales is $6,800.]c. craig�s received $4,000 from customers on account who purchased merchandise in june. d. the men�s and ladies� bowling leagues gave craig�s a deposit of $2,500 for the upcoming fall season. prepare the journal entry for the above transactions

Which of the following is false regarding the links between jit and quality? a. jit increases the cost of obtaining good quality. b. as quality improves, fewer inventory buffers are needed; in turn, jit performs better. c. jit reduces the number of potential sources of error by shrinking queues and lead times. d. inventory hides bad quality; jit immediately exposes it. e. if consistent quality exists, jit allows firms to reduce all costs associated with inventory.

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?

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to