Linda Keller opened a consulting firm, Keller Consulting P. C. During its first month of operations, the following transactions were completed: I. Linda invested $30,000 in the business, which in turn issued common stock to her
II. The business purchased equipment on account for $65.000
III. The business provided consulting services on account, $13.000
IV. The business paid cash salaries to the receptionist, $2.000
V. The business received cash from a customer as payment on account 56.000
VI. The business borrowed $11.000 from the bank, issuing a note payable At the end of the month total liabilities are:
A. $76,000
B. $78,000
C. $11,000
D. $65.000

Rats that received electric shocks were unlikely to develop ulcers if the

Barry owns a 50 percent interest in b& b interests, a partnership. his brother, benny, owns a 35 percent interest in that same partnership, and the remaining 15 percent is owned by an unrelated individual. during 2016, barry sells a rental property with a basis of $60,000 to b& b interests for $100,000. the partnership intends to hold the rental as inventory for resale. what is the amount and nature of barry’s gain or loss on this transaction?

Ultravision inc. anticipates sales of $280,000 from january through april. materials will represent 50 percent of sales, and because of level production, material purchases will be equal for each month during the four months of january, february, march, and april. materials are paid for one month after the month purchased. materials purchased in december of last year were $24,000 (half of $48,000 in sales). labor costs for each of the four months are slightly different due to a provision in the labor contract in which bonuses are paid in february and april. the labor figures are: january $14,000 february 17,000 march 14,000 april 19,000 fixed overhead is $10,000 per month. prepare a schedule of cash payments for january through april. (assume the $280,000 of sales occur equally over the four months of january through april, i. e. monthly sales = $280,000 / 4.)