North star prepared the following unadjusted trial balance at the end of its second year of operations ending december 31. account titles debit credit cash $ 12,500 accounts receivable 6,500 prepaid rent 2,500 equipment 21,500 accumulated depreciation $ 1,050 accounts payable 1,050 income tax payable 0 common stock 25,300 retained earnings 2,600 sales revenue 51,500 salaries and wages expense 25,500 utilities expense 13,000 rent expense 0 depreciation expense 0 income tax expense 0 totals $ 81,500 $ 81,500 other data not yet recorded at december 31: rent expired during the year, $1,250. depreciation expense for the year, $1,050. utilities used and unpaid, $9,500. income tax expense, $440. summarize the adjusting journal entries in t-accounts. after entering the beginning balances and computing the adjusted ending balances, prepare an adjusted trial balance as of december 31.

Bear, inc. estimates its sales at 200,000 units in the first quarter and that sales will increase by 20,000 units each quarter over the year. they have, and desire, a 25% ending inventory of finished goods. each unit sells for $35. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. the remainder is received in the quarter following sale. cash collections for the third quarter are budgeted at

You are the manager in charge of global operations at bankglobal – a large commercial bank that operates in a number of countries around the world. you must decide whether or not to launch a new advertising campaign in the u.s. market. your accounting department has provided the accompanying statement, which summarizes the financial impact of the advertising campaign on u.s. operations. in addition, you recently received a call from a colleague in charge of foreign operations, and she indicated that her unit would lose $8 million if the u.s. advertising campaign were launched. your goal is to maximize bankglobal’s value. should you launch the new campaign? explain. pre-advertising campaign post-advertising campaign total revenues $18,610,900 $31,980,200 variable cost tv airtime 5,750,350 8,610,400 ad development labor 1,960,580 3,102,450 total variable costs 7,710,930 11,712,850 direct fixed cost depreciation – computer equipment 1,500,000 1,500,000 total direct fixed cost 1,500,000 1,500,000 indirect fixed cost managerial salaries 8,458,100 8,458,100 office supplies 2,003,500 2,003,500 total indirect fixed cost $10,461,600 $10,461,600

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