Aperson has three credit cards with very large outstanding balances and is unable to make payments on any of them. which action should the person take?
a.) notify a credit reporting agency in order to negotiate a new payment plan
b.) file for bankruptcy in order to maintain ones current credit score
c.) notify the credit card companies in order to negotiate a new payment plan
d.) contact the internal revenue service in order to avoid paying income tax this year

Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

Why do police officers get paid less than professional baseball players?