Roth Service Co. experienced the following transactions for 2018, its first year of operations:

Provided $110,000 of services on account.

Collected $89,000 cash from accounts receivable.

Paid $41,000 of salaries expense for the year.

Roth adjusted the accounts using the following information from an accounts receivable aging schedule:

Number of Days Past Due Amount Percent Likely to Be Uncollectible Allowance Balance
Current $ 9,500 0.01
0-30 4,000 0.05
31-60 2,500 0.10
61-90 2,000 0.30
Over 90 days 3,000 0.50

Required:

1.Organize the information in accounts under an accounting equation.

2.Prepare an income statement for Roth Service Co. for 2018.

3.What is the net realizable value of the accounts receivable at December 31, 2018?

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

When partners own different portions of the business, the terms should be stated clearly in what document? the articles of incorporation the executive summary the business summary the partnership agreement

Dominic is the founder of an innovative "impromptu catering" business that provides elegant, healthy party food and decorations on less than 24 hours' notice. the company has grown by over 150 percent in the past year. dominic credits some of the company's success to studying the strategies of prominent social entrepreneurs, such as wikipedia's jimmy wales. what can dominic do to exemplify the social entrepreneurship model?