At year-end 2018, wallace landscaping’s total assets were $2.00 million, and its accounts payable were $395,000. sales, which in 2018 were $2.5 million, are expected to increase by 25% in 2019. total assets and accounts payable are proportional to sales, and that relationship will be maintained. wallace typically uses no current liabilities other than accounts payable. common stock amounted to $435,000 in 2018, and retained earnings were $375,000. wallace has arranged to sell $160,000 of new common stock in 2019 to meet some of its financing needs. the remainder of its financing needs will be met by issuing new long-term debt at the end of 2019. (because the debt is added at the end of the year, there will be no additional interest expense due to the new debt.) its net profit margin on sales is 3%, and 60% of earnings will be paid out as dividends. what was wallace's total long-term debt in 2018? do not round intermediate calculations. round your answer to the nearest dollar. $ what were wallace's total liabilities in 2018? do not round intermediate calculations. round your answer to the nearest dollar. $ how much new long-term debt financing will be needed in 2019? (hint: afn - new stock = new long-term debt.) do not round intermediate calculations. round your answer to the nearest dollar. $

Presented below is a list of possible transactions. analyze the effect of the 18 transactions on the financial statement categories indicated. transactions assets liabilities owners’ equity net income 1. purchased inventory for $80,000 on account (assume perpetual system is used). 2. issued an $80,000 note payable in payment on account (see item 1 above). 3. recorded accrued interest on the note from item 2 above. 4. borrowed $100,000 from the bank by signing a 6-month, $112,000, zero-interest-bearing note. 5. recognized 4 months’ interest expense on the note from item 4 above. 6. recorded cash sales of $75,260, which includes 6% sales tax. 7. recorded wage expense of $35,000. the cash paid was $25,000; the difference was due to various amounts withheld. 8. recorded employer’s payroll taxes. 9. accrued accumulated vacation pay. 10. recorded an asset retirement obligation. 11. recorded bonuses due to employees. 12. recorded a contingent loss on a lawsuit that the company will probably lose. 13. accrued warranty expense (assume expense warranty approach). 14. paid warranty costs that were accrued in item 13 above. 15. recorded sales of product and related service-type warranties. 16. paid warranty costs under contracts from item 15 above. 17. recognized warranty revenue (see item 15 above). 18. recorded estimated liability for premium claims outstanding.

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.

Danielle enjoys working as a certified public accountant (cpa) and assisting small businesses and individuals with managing their finances and taxes. which general area of accounting is her specialty? danielle specialized in