On January 1, 2021, Red Flash Photography had the following balances: Cash, $12,000; Supplies, $8,000; Land, $60,000; Deferred Revenue, $5,000; Common Stock $50,000; and Retained Earnings, $25,000. During 2021, the company had the following transactions:

The following information is available on December 31, 2021:

1. Employees are owed an additional $4,000 in salaries.
2. Three months of the rental space has expired.
3. Supplies of $5,000 remain on hand.
4. All of the services associated with the beginning deferred revenue have been performed.

5. Prepare closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
  

• Record the entry to close the revenue accounts.

Note: Enter debits before credits.

• Record the entry to close the expense accounts.

Note: Enter debits before credits.

• Record the entry to close the dividends account.

Note: Enter debits before credits.

The Draper Company Records these journal entries:

Purchase of equipment; signed a 5-year note payable $27

Accrued Wages Payable $12

Earned portion of Unearned Revenue $16

Required: Indicate the net effect of these journal entries on the following items. Indicate the dollar amount of the effect and the direction of the effect. (Example: $13 Increase, or $8 Decrease, or NO EFFECT)

a) Net Income $_______________ b) Total Assets $_______________ c) Total Liabilities $_______________

d) Retained Earnings $_______________ e) Total Equity $_______________ f) Working Capital $_______________

You will explore obesity around the world. You will research information on obesity in the United States and two other countries, each from different continents.

1. Discuss obesity in the United States and the two countries you selected.
2. What comparisons can be made?
3. What are the cultural differences in these countries that contribute to obesity?
4. What are some of the contributing factors to worldwide obesity rates?
5. What are some social determinants that may contribute to obesity rates?
6. What are shared causal or associative factors that contribute to the global spread of this condition?

An Internet retailer would like to investigate the relationship between the amount of time in minutes a purchaser spends on its Web site and the amount of money he or she spends on an order. The table to the right shows the data from a random sample of 12 customers. Construct a 90​% confidence interval for the regression slope. Construct a 90​% confidence interval for the slope. LCL equals nothing and UC Lequals nothing ​(Round to three decimal places as​ needed.)

5-b b. List and explain the 3 decision process questions confronting the producer in pure competition.
1) Total Revenue = price*quantity(TR=P*Q)
2)Average Revenue = price (AR=P)
3)Marginal Revenue = price (MR=P)

Please help to explain these three aswers for the above question.

7) Which of the following types of accounts typically have a “Credit” balance?

a. Assets, liabilities

b.   Liabilities, expenses

c. Revenue, liabilities

d.   Capital stock, assets

8) Which of the following describes the “classification” and the “normal balance” of the Fee

Revenue account?

a. Asset, credit

b.   Liability, credit

c. Retained Earnings, debit

d.   Revenue, credit

9) Amounts ($$) that a business is owed “from” its customers are referred to as:

a. Accounts Receivables

b.   Equities

c. Stockholders’ Equity

d.   Liabilities

10) When should the balance sheet be prepared?

a. before the income statement and the owner’s equity statement

b.   before the income statement and after the owner’s equity statement

c. after the income statement and the owner’s equity statement

d.   after the income statement and before the owner’s equity statement

GinTel Pte Ltd enters into a 24-month contract with its customer where the customer receives Paid-TV services for $30 per month (to be paid at the end of each month). The customer receives a free Set-Top box. The standalone selling price of the Set-Top box is $200, the cost of the Set-Top box is $150, and the standalone selling price of the Paid- TV services is $25 per month.

(a) Under FRS 115 Revenue from Contracts with Customers, identify the separate performance obligations, determine and allocate the transaction price and discuss when revenue should be recognised.

(b) Prepare the necessary journal entries (narrative not required) to illustrate how the above transaction and its matching expenses would be recognised under FRS 18 Revenue instead.

TOPIC: Fiscal Policy. Economic implications of government budget deficits, surpluses, tax reforms, social security reforms, government bailouts, and other aspects. A) How is government debt related to government deficit? B) What factors contribute to a large change in the Debt/GDP ratio? C) What are the three main channels through which fiscal policy affects the macroeconomy? D) Explain how each policy channel works. E) In what way is the government debt a potential burden on future generations?

An analyst brings you a project. She expects there to be operating cash flow of $500,000 for the first year, and then it will decease by 10% for six more years. You need to contribute $70,000 in net working capital. You will salvage 50% of that back when the project ends in seven years. You need to purchase $1,800,000 of equipment at the beginning and then another $100,000 in year three. No salvage for equipment. You know your company’s WACC is 9% and this project is very similar to your company’s operations. What is the NPV of this project and should you do it?