Selected transactions for Dianne Burke Company during its fi rst month in business
are presented below.
Sept. 1 Invested $10,000 cash in the business.
5 Purchased equipment for $12,000 paying $4,000 in cash and the balance on
account.
25 Paid $3,000 cash on balance owed for equipment.
30 Withdrew $700 cash for personal use.
Burke’s chart of accounts shows: No. 101 Cash, No. 157 Equipment, No. 201 Accounts
Payable, No. 301 Owner’s Capital, and No. 306 Owner’s Drawings.
Instructions
(a) Journalize the transactions on page J1 of the journal. (Omit explanations.)
(b) Post the transactions using the standard account form.

Magic realm, inc., has developed a new fantasy board game. the company sold 15,000 games last year at a selling price of $20 per game. fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. production of the game is entrusted to a printing contractor. variable expenses consist mostly of payments to this contractor. required: 1-a. prepare a contribution format income statement for the game last year.1-b. compute the degree of operating leverage.2. management is confident that the company can sell 58,880 games next year (an increase of 12,880 games, or 28%, over last year). given this assumption: a. what is the expected percentage increase in net operating income for next year? b. what is the expected amount of net operating income for next year? (do not prepare an income statement; use the degree of operating leverage to compute your answer.)

Robert owns a life insurance policy that he purchased when he first graduated college. it has a $100,000 death benefit and robert pays premiums for it every month out of his checking account. the insurance robert has is most likely da. permanent life insurance o b. term life insurance o c. group life insurance o d. individual life insurance

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