Jan. 1 Fahad Ali transferred cash from a personal bank account to an account to be used for the business, $53,000.
2 Paid rent on office and equipment for the month, $7,950.
3 Purchased supplies on account, $4,240.
4 Paid creditor on account, $2,320.
5 Earned fees, receiving cash, $24,180.
6 Paid automobile expenses (including rental charge) for month, $2,490, and miscellaneous expenses, $560.
7 Paid office salaries, $6,630.
8 Determined that the cost of supplies used was $1,860.
9 Withdrew cash for personal use, $2,600.

Required:
a. Journalize entries for transactions Jan. 1 through 9.
b. Post the journal entries to the T accounts. Determine the account balances after all posting is complete. Determine the correct ending balance.
c. Prepare an unadjusted trial balance as of January 31, 20Y5.

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

Slimwood corporation made sales of $ 725 million during 2018. of this amount, slimwood collected cash for $ 670 million. the company's cost of goods sold was $ 300 million, and all other expenses for the year totaled $ 400 million. also during 2018, slimwood paid $ 420 million for its inventory and $ 285 million for everything else. beginning cash was $ 110 million. carter's top management is interviewing you for a job and they ask two questions: (a) how much was carter's net income for 2018? (b) how much was carter's cash balance at the end of 2016? you will get the job only if you answer both questions correctly.

Which of the following statements is true of unsought products? as compared to convenience products, unsought products are purchased more frequently. unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. a life insurance policy is an example of an unsought product. unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought products are those products purchased for further processing or for use in conducting a business.