The following transactions pertain to 2018, the first-year operations of gibson company. all inventory was started and completed in 2018. assume that all transactions are cash transactions.1. acquired $12,000 cash by issuing common stock.2. paid $4,700 for materials used to produce inventory.3. paid $2,400 to production workers.4. paid $900 rental fee for production equipment.5. paid $350 to administrative employees.6. paid $400 rental fee for administrative office equipment.7. produced 400 units of inventory of which 360 units were sold at a price of $25 each. prepare an income statement and a balance sheet in accordance with gaap.

T-comm makes a variety of products. it is organized in two divisions, north and south. the managers for each division are paid, in part, based on the financial performance of their divisions. the south division normally sells to outside customers but, on occasion, also sells to the north division. when it does, corporate policy states that the price must be cost plus 20 percent to ensure a "fair" return to the selling division. south received an order from north for 300 units. south's planned output for the year had been 1,200 units before north's order. south's capacity is 1,500 units per year. the costs for producing those 1,200 units follow

In early january, burger mania acquired 100% of the common stock of the crispy taco restaurant chain. the purchase price allocation included the following items: $4 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. burger mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. what is the total amount of amortization expense that would appear in burger mania's income statement for the first year ended december 31 related to these items?

Which plan offers a tax-free education?