Fox corp.'s accounts payable at december 31, 20x8, totaled $900,000 before any necessary year-end adjustments relating to the following transactions: • on december 27, 20x8, fox wrote and recorded checks to creditors totaling $400,000 causing an overdraft of $100,000 in fox's bank account at december 31, 20x8. the checks were mailed out on january 10, 20x9. • on december 28, 20x8, fox purchased and received goods for $153,061, terms 2/10, n/30. fox records purchases and accounts payable at net amounts. the invoice was recorded and paid january 3, 20x9. • goods shipped f. o.b. destination on december 20, 20x8 from a vendor to fox were received and recorded january 2, 20x9. the invoice cost was $65,000. at december 31, 20x8, what amount should fox report as total accounts payable?

In the supply-and-demand schedule shown above, at the lowest price of $50, producers supply music players and consumers demand music players.

Grant, inc., acquired 30% of south co.’s voting stock for $200,000 on january 2, year 1, and did not elect the fair value option. the price equaled the carrying amount and the fair value of the interest purchased in south’s net assets. grant’s 30% interest in south gave grant the ability to exercise significant influence over south’s operating and financial policies. during year 1, south earned $80,000 and paid dividends of $50,000. south reported earnings of $100,000 for the 6 months ended june 30, year 2, and $200,000 for the year ended december 31, year 2. on july 1, year 2, grant sold half of its stock in south for $150,000 cash. south paid dividends of $60,000 on october 1, year 2. before income taxes, what amount should grant include in its year 1 income statement as a result of the investment?

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)