Ames, bell, and cole were equal partners in the abc construction company. they had no formal or written partnership agreement. cole died on june 30, and his widow, cora cole, qualified as executor of his will. ames and bell continued the business of the partnership until december 31, when they sold all of its assets. after paying all partnership debts, they distributed the balance equally among themselves and mrs. cole as executor. subsequently, mrs. cole learned that ames and bell had made and withdrawn a net profit of $20,000 from july 1 to december 31. the profit was made through new contracts using the partnership name and assets. ames and concealed such contracts and profit from mrs. cole, and she learned about them from other sources. immediately after acquiring the information, mrs. cole made demand upon ames and bell for one-third of the profit of $20,000. they rejected her demand. what are the rights and remedies, if any of cora cole as executor?

Maldonia has a comparative advantage in the production of , while lamponia has a comparative advantage in the production of . suppose that maldonia and lamponia specialize in the production of the goods in which each has a comparative advantage. after specialization, the two countries can produce a total of million pounds of lemons and million pounds of coffee.

Greater concern for innovation and quality has shifted the job trend to using more broadly defined jobs. t/f

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."