Pancor Corporation paid cash of $167,000 to acquire Sink Company’s net assets on February 1, 20X3. The balance sheet data for the two companies and fair value information for Sink immediately before the business combination were: Pancor Corporation Sink Company Balance Sheet Item Book Value Book Value Fair Value Assets Cash $ 257,000 $ 16,000 $ 16,000 Accounts Receivable 149,000 34,000 34,000 Inventory 175,000 44,000 48,000 Patents 86,000 44,000 57,000 Buildings & Equipment 388,000 327,000 144,000 Less: Accumulated Depreciation (182,000 ) (192,000 ) Total Assets $ 873,000 $ 273,000 $ 299,000 Liabilities & Equities Accounts Payable $ 79,000 $ 63,000 $ 63,000 Notes Payable 139,000 127,000 127,000 Common Stock: $8 par value 181,000 $6 par value 12,000 Additional Paid-In Capital 141,000 7,000 Retained Earnings 333,000 64,000 Total Liabilities & Equities $ 873,000 $ 273,000 Required: a. Prepare the journal entry recorded by Pancor Corporation when it acquired Sink’s net assets.

Net income and owner's equity for four businesses four different proprietorships, jupiter, mars, saturn, and venus, show the same balance sheet data at the beginning and end of a year. these data, exclusive of the amount of owner's equity, are summarized as follows: total assets total liabilities beginning of the year $550,000 $215,000 end of the year 844,000 320,000 on the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (hint: first determine the amount of increase or decrease in owner's equity during the year.) jupiter: the owner had made no additional investments in the business and had made no withdrawals from the business. mars: the owner had made no additional investments in the business but had withdrawn $36,000. saturn: the owner had made an additional investment of $60,000 but had made no withdrawals. venus: the owner had made an additional investment of $60,000 and had withdrawn $36,000. jupiter net income $ mars net income $ saturn net income $ venus net income $

Portia grant is an employee who is paid monthly. for the month of january of the current year, she earned a total of $8,388. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year and the fica tax rate for medicare is 1.45% of all earnings. the futa tax rate of 0.6% and the suta tax rate of 5.4% are applied to the first $7,000 of an employee's pay. the amount of federal income tax withheld from her earnings was $1,391.77. what is the total amount of taxes withheld from the portia's earnings?

Ichelle is attending college and has a part-time job. once she finishes college, michelle would like to relocate to a metropolitan area. she wants to build her savings so that she will have a "nest egg" to start her off. michelle works out her budget and decides she can afford to set aside $9090 per month for savings. her bank will pay her 4 %4% per year, compounded monthly, on her savings account. what will be michelle's balance in five years?