Dan watson started a small merchandising business in 2018. the business experienced the following events during its operation. assume that watson uses the perpetual inventory system.1 acquired $32.500 cash from the issue of common stock. 2 purchased inventory for $26,000 cash. 3. sold inventory costing $17100 for $29,000 cashrequired: a. record these transactions in a financial statements model, assuming green uses the fifo cost flow assumption and keeps perpetual records. (in the cash flow column, use the initials oa to designate operating activity, ia for investing activity, fa for financing activity, and nc for net change in cash. b. prepare an income statement for 2018. c. what is the amount of total assets at the end of the period?

Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.