On December 31, after adjustments, Gonzalez Company's ledger contains the following account balances: 101 Cash $ 27,200 Dr. 111 Accounts Receivable 15,800 Dr. 121 Supplies 2,000 Dr. 131 Prepaid Rent 38,600 Dr. 141 Equipment 44,000 Dr. 142 Accumulated Depreciation—Equip. 1,000 Cr. 202 Accounts Payable 6,500 Cr. 301 Emilio Gonzalez, Capital (12/1/2019) 45,620 Cr. 302 Emilio Gonzalez, Drawing 6,200 Dr. 401 Fees Income 112,400 Cr. 511 Advertising Expense 3,800 Dr. 514 Depreciation Expense—Equip. 800 Dr. 517 Rent Expense 2,600 Dr. 519 Salaries Expense 18,800 Dr. 523 Utilities Expense 5,720 Dr. Required: Journalize the closing entries in the general journal. Post the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Analyze: What is the balance of the Salaries Expense account after closing entries are posted?

Salvador county issued $25 million of 5% demand bonds for construction of a county maintenance building. the county has no take-out agreement related to the bonds. it estimates that 20% of the bonds would be demanded (called) by the buyers if interest rates increased at least 1%. at year-end rates on comparable debt were 7%. how should these demand bonds be reported in the government-wide financial statements at year-end? a) $25 million in the long-term liability section of the governmental activities column. b) $5 million in the current liability section of the governmental activities column and $20 million in the long-term liabilities section of the governmental activities column. c) $5 million in the governmental activities column and $20 million would be reported in the schedule of changes in long-term debt obligations. d) $25 million in the current liability section of the governmental activities column

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Suppose either computers or televisions can be assembled with the following labor inputs: units produced 1 2 3 4 5 6 7 8 9 10 total labor used 3 7 12 18 25 33 42 54 70 90 (a) draw the production possibilities curve for an economy with 54 units of labor. label it p54. (b) what is the opportunity cost of the eighth computer? (c) suppose immigration brings in 36 more workers. redraw the production possibilities curve to reflect this added labor. label the new curve p90.