Three goods are consumed monthly in an economy during years 1 and 2. the table shows prices (p1 and p2) for each shows the quantity of the good included in the market basket that is used to calculate the consumer price index. the base year is year 1

good p1 p2 quantity in basket
milk $4 $4.2 5
chicken $2 $2.2 9
onion $3 $3.2 2

(a) the cost of the basket in year 1 is $ and the cost of the basket in year 2 is $
(b) the value of the consumer price index (cpi) in year 1 is in year 2 is %, and the
(c) the percentage change in the price of milk is percentage change in the price of onions is %, the percentage change in the price of chicken is %. the percentage change in the cpl is %

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)

Ursus, inc., is considering a project that would have a five-year life and would require a $1,650,000 investment in equipment. at the end of five years, the project would terminate and the equipment would have no salvage value. the project would provide net operating income each year as follows (ignore income taxes.):

10.     lucy is catering an important luncheon and wants to make sure her bisque has the perfect consistency. for her bisque to turn out right, it should have the consistency of a. cold heavy cream. b. warm milk. c. foie gras. d. thick oatmeal. student d   incorrect