Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. May 2 Sold merchandise costing $300 to B. Facer for $450 cash, invoice number 5703.
May 5 Purchased $2,400 of merchandise on credit from Marchant Corporation.
May 7 Sold merchandise costing $800 to J. Dryer for $1,250, terms 2/10, n/30, invoice number 5704.
May 8 Borrowed $9,000 cash by signing a note payable to the bank. May 12 Sold merchandise costing $200 to R. Lamb for $340, terms n/30, invoice number 5705.
May 16 Received $1,225 cash from J. Dryer to pay for the purchase of May 7.
May 19 Sold used store equipment (noninventory) for $900 cash to Golf, Incorporated.
May 25 Sold merchandise costing $500 to T. Taylor for $750, terms n/30, invoice number 5706.

Required:
Journalize the May transactions that should be recorded in the sales journal assuming the perpetual inventory system is used.

Partnerships are the most common type of business firms in the world. t/f

Mr. smith recently faced a choice between being (a) an economics profes-sor, which pays $60,000/yr, or (b) a safari leader, which pays $50,000/yr. after careful deliberation, smith took the safari job, but it was a close call. "for a dollar more," he said, "i'd have gone the other way."now smith's brother-in-law approaches him with a business proposition. the terms are as follows: - smith must resign his safari job to work full-time in his brother-in-law's business.- smith must give his brother-in-law an interest-free loan of $100,000, which will be repaid in full if and when smith leaves the business. (smith currently has much more than $100,000 in the the business will pay smith a salary of $70,000/yr. he will receive no other payment from the business. the interest rate is 10 percent per year. apart from salary considerations, smith feels that working in the business would be just as enjoyable as being an economics professor. for simplicity, assume there is no uncertainty regarding either smith's salary in the proposed business or the security of his monetary investment in it. should smith join his brother-in-law and, if so, how small would smith's salary from the business have to be to make it not worthwhile for him to join? if not, how large would smith's salary from the business have to be to make it worthwhile for him to join?

Oceanside marine company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. oceanside uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 2 pound per unit; $ 11 per pound direct labor: 2 hours per unit; $ 19 per hour oceanside produced 2 comma 000 units during the quarter. at the end of the quarter, an examination of the direct materials records showed that the company used 7 comma 500 pounds of direct materials and actual total materials costs were $ 98 comma 100. what is the direct materials cost variance? (round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)