Smith services, inc., was a trucking company established in 2000 and owned by tony smith as the sole shareholder. smith services, inc., had an account with laker express, a fuel provider, and often would charge fuel purchases for the company trucks to that account. smith’s employees would fuel their vehicles and sign the account slip with a notation that the purchase was for smith services, inc. laker express would bill smith services regularly for the charges on the account. after several months of low business, smith services ceased doing business and was dissolved in 2013, with its assets being distributed to creditors. laker express only recovered a small part of the amount owed by smith services, inc. tony smith then opened up a new trucking service business as a sole proprietor. laker express sought to recover smith services' unpaid fuel charges, which amounted to about $35,000, from smith. he argued that he was not personally liable for a corporate debt. should a court hold tony smith personally liable?

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

Anita has been named ceo of a popular sports apparel company. as ceo, she is tasked with setting the firm's corporate strategy. which of the following decisions is anita most likely to makea) whether to pursue a differentiation or cost leadership strategy b) which customer segments to target c) how to achieve the highest levels of customer satisfaction d) what range of products the firm should offer

Which three of the following expenses can student aid recover? -tuition -television -school supplies -parties and socializing -boarding/housing