The following transactions occurred during the year: a. Received $36,000 cash from the company's founders in exchange for common stock.
b. Purchased land for $10,500, signing a two-year note (ignore interest).
c. Bought two used delivery trucks at the start of the year at a cost of $12,000 each; paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest).
d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks.
e. Stockholder Jonah Lee paid $250,000 cash for a house for his personal use.

Required:
a. Show the effects of the Journal entries by account, using the T-account.
b. Prepare a classified balance sheet for Laser Delivery Services, Inc., at the end of December.

Last year, western corporation had sales of $5 million, cost of goods sold of $3 million, operating expenses of $175,000 and depreciation of $125,000. the firm received $40,000 in dividend income and paid $200,000 in interest on loans. also, western sold stock during the year, receiving a $40,000 gain on stock owned 6 years, but losing $60,000 on stock owned 4 years. what is the firm's tax liability?

Jade international is a highly diversified global firm with headquarters in new jersey. it manufactures a variety of products ranging from home security systems to automotive components. jade's 100,000 employees work at facilities located in more than 60 countries around the world. jade frequently sends american managers overseas to manage the firm's foreign facilities. the hr department is considering the idea of redesigning jade's expatriate support services program. which of the following, if true, best supports jade's decision to provide assistance to trailing spouses in finding jobs overseas? a) jade puts great emphasis on promoting the role of women in global management. b) the majority of jade's expatriate managers have long-term international experience. c) jade has lost a significant chunk of its global cadre in the recent past owing to its failure to offer feasible options to address the dual-career couples dilemma. d) female managers at jade have reported discriminatory treatment while on overseas assignments.

Ben collins plans to buy a house for $166,000. if the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be five years from now?