The following informationis drawn from royal industries cash budgetcash receipts 40,000beg, cash bal. 10,000cash payment 48,000desired ending cash cushion 5,000if there is a cash shortage, the company borrows money. if a surplus occurs funds are used to repay loans or ot invest in short-term assests. the company had no debt before january 1st. the amounted "needed" to borrow or the amount "available" for repayment of debt in januar would bea. 2000 availableb. 3,000 neededc. 7000 availabled 13,000 neededif there is a cash shortage, the company borrows money. if a surplus occurs funds are used to repay loans or to invest in short-term assests. all borrowing, repayments, and interest payments occur on the last day of themonth. the interest rate is 1% per month. the amount of interest expense incurred for january is: a. 20b. $30c. $50d. none of the aoveb. the amount of interest paid in february would bea. $50b. $300c. $500d. $30

Diggity dank corporation uses an activity-based costing system with two activity cost pools. diggity dank uses direct labor hours as the measure of activity in the first activity cost pool and the number of orders in the second activity cost pool. the following information relates to these two activity cost pools for last year: what was diggity dank's under- or overapplied overhead for last year? a. $17,000 overapplied b. $20,000 underapplied c. $27,000 underapplied d. $73,000 overapplied

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u. s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.

The following transactions occur for badger biking company during the month of june: a. provide services to customers on account for $32,000. b. receive cash of $24,000 from customers in (a) above. c. purchase bike equipment by signing a note with the bank for $17,000. d. pay utilities of $3,200 for the current month. analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (decreases to account classifications should be entered as a negative.)