Hart Attorney at Law experienced the follwoing transactions in 2016, the first year of operations: Accepted $19,800 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months. Performed legal services for cash of $68,500. Purchased $1,050 of office supplies on account. Paid $945 of the amount due on accounts payable. Paid a cash dividend to the stockholders of $4,600. Paid cash for operating expenses of $20,700. Determined that at the end of the accounting period $150 of office supplies remained on hand. On December 31, Year 1, recognized the revenue that had been earned for services performed in accordance with Transaction 1.
Problem: Show the effects of the events on the fianncial statements using a horizontal statement model. In the cash flow column, use the initials OA to designate 'operating activity'; IA for 'investing activity'; FA for 'financial activity'; and NC for 'net change in cash'. Use NA to indicate accounts not affected by the event. Event #CashSupplesAccts. PayUnearn. Rev. Ret. Earn. RevExpNet Inc. Cash Flow1$36,000NANA$36,000NA$36,000NAN A$36,000OA2

Anewspaper boy is trying to perfect his business in order to maximize the money he can save for a new car. daily paper sales are normally distributed, with a mean of 100 and standard deviation of 10. he sells papers for $0.50 and pays $0.30 for them. unsold papers are trashed with no salvage value. how many papers should he order each day and what % of the time will he experience a stockout? are there any drawbacks to the order size proposed and how could the boy address such issues?

Zachary company produces commercial gardening equipment. since production is highly automated, the company allocates its overhead costs to product lines using activity-based costing. the costs and cost drivers associated with the four overhead activity cost pools follow: activities unit level batch level product level facility level cost $ 64,800 $ 27,730 $ 15,000 $ 154,000 cost driver 2,400 labor hrs. 47 setups percentage of use 11,000 units production of 780 sets of cutting shears, one of the company’s 20 products, took 240 labor hours and 7 setups and consumed 15 percent of the product-sustaining activities. required: (a) had the company used labor hours as a company wide allocation base, how much overhead would it have allocated to the cutting shears? (b) how much overhead is allocated to the cutting shears using activity-based costing? (c) compute the overhead cost per unit for cutting shears first using activity-based costing and then using direct labor hours for allocation if 780 units are produced. if direct product costs are $150 and the product is priced at 30 percent above cost for what price would the product sell under each allocation system? (d) assuming that activity-based costing provides a more accurate estimate of cost, indicate whether the cutting shears would be over- or underpriced if direct labor hours are used as an allocation base. explain how over-or undercosting can affect vaulker's profitability. (e) comment on the validity of using the allocated facility-level cost in the pricing decision. should other costs be considered in a cost- plus pricing decision? if so, which ones? what costs would you include if you were trying to decide whether to accept a special order?

Why entrepreneurs start businesses. a) monopolistic competition b) perfect competition c) sole proprietorship d) profit motive