Identify whether each of the following examples belongs in M1 or M2. If an example belongs in both, be sure to check both boxes. Example M1 M2 Nick has $2,000 in a savings account. Rosa has $6,000 in a six-month certificate of deposit (CD). Jake has a roll of quarters that he just withdrew from the bank to do laundry.

Landon mars, the company bookkeeper, recorded the $10,000 purchase of land as rent expense by decreasing cash and decreasing shareholders' equity. what is the effect of this error on the accounting equation

mary's baskets company expects to manufacture and sell 30,000 baskets in 2019 for $5 each. there are 4,000 baskets in beginning finished goods inventory with target ending inventory of 4,000 baskets. the company keeps no work-in-process inventory. what amount of sales revenue will be reported on the 2019 budgeted income statement?

Suppose a holiday inn hotel has annual fixed costs applicable to its rooms of $1.2 million for its 300-room hotel, average daily room rents of $50, and average variable costs of $10 for each room rented. it operates 365 days per year. the amount of operating income on rooms, assuming an occupancy* rate of 80% for the year, that will be generated for the entire year is *occupancy = % of rooms rented