Sharp and Townson had capital balances of $60,000 and $120,000, respectively, on January 1 of the current year. On May 8, Sharp invested an additional $10,000 in the partnership. During the year, Sharp and Townson withdrew $25,000 and $45,000, respectively. The revenue account at the end of the year had a balance of $600,000, and the expense account had a balance of $510,000. Sharp and Townson have agreed to split net income on a 2:1 basis. Required:
a. Journalize the entries to close the income summary account and the drawing accounts.
b. Prepare the statement of owner's equity for the current year.

Outstanding stock consists of 8,300 shares of cumulative 7% preferred stock with a $10 par value and 4,300 shares of common stock with a $1 par value. during the first three years of operation, the corporation declared and paid the following total cash dividends. year dividend declared 2016 $ 0 2017 $ 7,300 2018 $ 45,000 the amount of dividends paid to preferred and common shareholders in 2018 is:

1. the political environment in india has proven to be critical to company performance for both pepsico and coca-cola india. what specific aspects of the political environment have played key roles? could these effects have been anticipated prior to market entry? if not, could developments in the political arena have been handled better by each company? 2. timing of entry into the indian market brought different results for pepsico and coca-cola india. what benefits or disadvantages accrued as a result of earlier or later market entry? 3. the indian market is enormous in terms of population and geography. how have the two companies responded to the sheer scale of operations in india in terms of product policies, promotional activities, pricing policies, and distribution arrangements? 4. “global localization” (glocalization) is a policy that both companies have implemented successfully. give examples for each company from the case.

1.     regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool. student c   incorrect