PART 7: Prepare Financial Statements Prepare the financial statements for Smart Touch Learning for the month of December. Remember that the business started operations this month so all beginning balances were 0. For the Statement of Retained Earnings and the Balance Sheet, enter any decreases with a negative sign or parentheses. SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash 50,980 Accounts Receivable 1,500 Office Supplies 290 Prepaid Insurance 900 Furniture 10,900 Accumulated Depreciation - Furniture 100 Salaries Payable 4,400 Unearned Revenue 4,600 Common Stock 40,800 Dividends 3,600 Service Revenue 26,800 Salaries Expense 5,700 Depreciation Expense - Furniture 100 Insurance Expense 300 Utilities Expense 320 Rent Expense 2,000 Supplies Expense 110 Total 76,700 76,700 Revenues: Expenses:

Suppose you win a small lottery and have the choice of two ways to be paid: you can accept the money in a lump sum or in a series of payments over time. if you pick the lump sum, you get $2,950 today. if you pick payments over time, you get three payments: $1,000 today, $1,000 1 year from today, and $1,000 2 years from today. 1) at an interest rate of 6% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 2) at an interest rate of 9% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 3) years after you win the lottery, a friend in another country calls to ask your advice. by wild coincidence, she has just won another lottery with the same payout schemes. she must make a quick decision about whether to collect her money under the lump sum or the payments over time. what is the best advice to give your friend? a) the lump sum is always better. b) the payments over time are always better. c) it will depend on the interest rate; advise her to get a calculator. d) none of these answers is good advice.

Amap from a trade development commission or chamber of commerce can be more useful than google maps for identifying

Aproperty title search firm is contemplating using online software to increase its search productivity. currently an average of 40 minutes is needed to do a title search. the researcher cost is $2 per minute. clients are charged a fee of $400. company a's software would reduce the average search time by 10 minutes, at a cost of $3.50 per search. company b's software would reduce the average search time by 12 minutes at a cost of $3.60 per search. which option would have the higher productivity in terms of revenue per dollar of input?