Given the following adjusted trial balance:
debit credit
cash $931
accounts receivable 1175
inventory 1749
prepaid rent 48
equipment
170
accumulated depreciation-equipment
$29
accounts payable 46
unearned service revenue
68
common stock 120
retained earnings 3700
service revenue 206
interest revenue 31
salaries and wages expense
90
travel expense 37
total $4200 $4200
after closing entries have been posted, the balance in retained earnings will be:

Producers can create their maximum combination of goods, s long as what?

Why should organizations be allowed to promote offensive, violent, sexual, or unhealthy products that can be legally sold and purchased?

Instructions: use the following information to construct the 2000 balance sheet and income statement for carolina business machines. round all numbers to the nearest whole dollar. all numbers are in thousands of dollars. be sure to read the whole problem before you jump in and get started. at the end of 1999 the firm had $43,000 in gross fixed assets. in 2000 they purchased an additional $14,000 of fixed asset equipment. accumulated depreciation at the end of 1999 was $21,000. the depreciation expense in 2000 is $4,620. at the end of 2000 the firm had $3,000 in cash and $3,000 in accounts payable. in 2000 the firm extended a total of $9,000 in credit to a number of their customers in the form of accounts receivable. the firm generated $60,000 in sales revenue in 2000. their cost of goods sold was 60 percent of sales. they also incurred salaries and wages expense of $10,000. to date the firm has $1,000 in accrued salaries and wages. they borrowed $10,000 from their local bank to finance the $15,000 in inventory they now have on hand. the firm also has $7,120 invested in marketable securities. the firm currently has $20,000 in long-term debt outstanding and paid $2,000 in interest on their outstanding debt. over the firm's life, shareholders have put up $30,000. eighty percent of the shareholder's funds are in the form of retained earnings. the par value per share of carolina business machines stock is