In x1, adam and jason formed abc, llc, a car dealership in kansas city. in x2, adam and jason realized they needed an advertising expert to assist in their business. thus, the two members offered cory, a marketing expert, a 1/3 capital interest in their partnership for contributing his expert services. cory agreed to this arrangement and received his capital interest in x2. if the value of the llc's capital equals $180,000 when cory receives his 1/3 capital interest, which of the following tax consequences does not occur in x2?
a. cory reports $60,000 of ordinary income in x2
b. adam, jason and cory receive an ordinary deduction of $20,000 in x2
c. adam and jason receive an ordinary deduction of $30,000 in x2
d. cory reports $60,000 of ordinary income in x2, and adam and jason receive an ordinary deduction of $30,000 in x2

He aldermanalderman company has prepared a sales budget of 42 comma 00042,000 finished units for a 3-month period. the company has an inventory of 10 comma 00010,000 units of finished goods on hand at december 31 and has a target finished goods inventory of 11 comma 00011,000 units at the end of the succeeding quarter. it takes 44 gallons of direct materials to make one unit of finished product. the company has inventory of 64 comma 00064,000 gallons of direct materials at december 31 and has a target ending inventory of 53 comma 00053,000 gallons at the end of the succeeding quarter. how many gallons of direct materials should aldermanalderman company purchase during the 3 months ending march 31? select the labels and enter the amounts to calculate the direct materials (gallons) to be purchased.

Employees at a library check out books to patrons. books have an isbn and a name. the library sometimes has multiple copies of the same book. books have one or more authors. a patron is an individual who has an active (non-expired) library card. for each library card, we store the person's first and last names and their address. for each employee, we store their employee id, current salary, first and last name and their address. we also store the employee id of their current manager. each time we check out a book to a patron we need to store the date of the transaction, the employee who checked out the book to the patron, and the library card of the patron. some employees have library cards. if an employee patron turns in a book late, the fine that they pay is a percentage of their salary. some employees are authors who have library cards—they are allowed to check out as many books as they like.

Juniper company, inc. uses a perpetual inventory system. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 16, it paid the full amount due. the correct journal entry to record the payment on august 16 is: