Scenario 1: During 2021, IBM provides consulting services on its mainframe computer for $10,200 on account. The customer does not pay for those services until 2022. Scenario 2: On January 1, 2021, Gold’s Gym sells a one-year membership for $1,064 cash. Normally, this type of membership would cost $1,520, but the company is offering a 30% "New Year’s Resolution" discount. Scenario 3: During 2021, The Manitowoc Company provides shipbuilding services to the U. S. Navy for $330,000. The U. S. Navy will pay $110,000 at the end of each year for the next three years, beginning in 2021. Scenario 4: During 2021, Goodyear sells tires to customers on account for $26,200. By the end of the year, collections total $22,000. At the end of 2022, it becomes apparent that the remaining $4,200 will never be collected from customers. Required: For each scenario, calculate the amount of revenue to be recognized in 2021.

You have just been hired as a financial analyst for barrington industries. unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. so, your first job will be to recreate the firm's cash flow statement for the year just ended. the firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. it earned $5 million in net income during the year but paid $800,000 in dividends to common shareholders. throughout the year, the firm purchased $5.5 million of machinery that was needed for a new project. you have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $450,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 6% interest rate. what was the firm's end- of-year cash balance? recreate the firm's cash flow statement to arrive at your answer

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

Interest is credited to a fixed annuity no lower than the variable contract rate contract guaranteed rate current rate of inflation prime rate