The following selected transactions were taken from the books of aliceville company for 2014: 1. on march 1, 2014, borrowed $60,000 cash from the local bank. the note had a 6 percent interest rate and was due on september 1, 2014. 2. cash sales for the year amounted to $240,000 plus sales tax at the rate of 7 percent. 3. aliceville provides a 90-day warranty on the merchandise sold. the warranty expense is estimated to be 2 percent of sales. 4. paid the sales tax to the state sales tax agency on $200,000 of the sales. 5. paid the note due on september 1 and the related interest. 6. on october 1, 2014, borrowed $50,000 cash from the local bank. the note had a 7 percent interest rate and a one-year term to maturity. 7. paid $3,800 in warranty repairs. 8. a customer has filed a lawsuit against aliceville for $150,000 for breach of contract. the company attorney does not believe the suit has merit. what amount of cash did aliceville pay for interest during the year?

Jurvin enterprises is a manufacturing company that had no beginning inventories. a subset of the transactions that it recorded during a recent month is shown below. $76,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. of this amount, $66,300 was for direct materials and the remainder was for indirect materials. total labor wages of $151,700 were incurred and paid. of this amount, $134,300 was for direct labor and the remainder was for indirect labor. additional manufacturing overhead costs of $126,300 were incurred and paid. manufacturing overhead of $126,800 was applied to production using the company's predetermined overhead rate. all of the jobs in process at the end of the month were completed. all of the completed jobs were shipped to customers. any underapplied or overapplied overhead for the period was closed to cost of goods sold.required: 1. post the above transactions to t-accounts.2. determine the cost of goods sold for the period.

Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.

Beachballs, inc., expects abnormally high earnings for the next three years due to the forecast of unusually hot summers. after the 3-year period, their growth will level off to its normal rate of 6%. dividends and earnings are expected to grow at 20% for years 1 and 2 and 15% in year 3. the last dividend paid was $1.00. if an investor requires a 10% return on beachballs, the price she is willing to pay for the stock is closest to: