The business was started when the company received $48,500 from the issue of common stock. purchased equipment inventory of $176,500 on account. sold equipment for $191,000 cash (not including sales tax). sales tax of 6 percent is collected when the merchandise is sold. the merchandise had a cost of $116,000. provided a six-month warranty on the equipment sold. based on industry estimates, the warranty claims would amount to 5 percent of sales. paid the sales tax to the state agency on $141,000 of the sales. on september 1, 2018, borrowed $21,500 from the local bank. the note had a 5 percent interest rate and matured on march 1, 2019. paid $5,900 for warranty repairs during the year. paid operating expenses of $53,000 for the year. paid $125,900 of accounts payable. recorded accrued interest on the note issued in transaction no. 6. what is the total amount of current liabilities at december 31, 2018? (do not round intermediate calculations and round your answer to the nearest whole dollar amount.)

Prairie, inc. produces one single product. it has an annual capacity of 10,000 units, but currently uses only 80% of it. each unit is sold for $50 and requires direct material worth $30 and direct labor worth $5. manufacturing overhead cost is $10 per unit of which 70% is variable. should a special order to sell 1,000 units at $44 be accepted? yes no

The balance sheet contains the following major sections: current assets long-term investments property, plant, and equipment intangible assets other assets current liabilities long-term liabilities contributed capital retained earnings accumulated other comprehensive income required: the following is a list of accounts. using the letters a through j, indicate in which section of the balance sheet each of the accounts would be classified. if an account does not belong under one of the sections listed, select "not under any of the choices" from the classification drop down box. for all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selecting "yes" from the second drop down box, otherwise select "no". account classification contra or deducted (yes/no) 1. cash 2. bonds payable (due in 8 years) 3. machinery 4. deficit 5. unexpired insurance 6. franchise (net) 7. fund to retire preferred stock 8. current portion of mortgage payable 9. accumulated depreciation 10. copyrights 11. investment in held-to-maturity bonds 12. allowance for doubtful accounts 13. notes receivable (due in 3 years) 14. property taxes payable 15. deferred taxes payable 16. additional paid-in capital on preferred stock 17. premium on bonds payable (due in 8 years) 18. work in process 19. common stock, $1 par 20. land 21. treasury stock (at cost) 22. unrealized increase in value of available-for-sale securities

In a chapter 7 bankruptcy, a debtor: