3.auto detailing, inc. had the following transactions on august 1:
a. the company sold $2,100 of inventory costing $1,400. the custome
2,100 of inventory costing $1,400. the customer will not be billed until september. as
of august 31, no entries have been made with respect to the inventory that has
been made with respect to the inventory that has been sold or the sale.
b. the company received a $2,000 payment from a customer for services to be performed during august and
september. on august 1, the entire $2,000 was placed in the unearned revenue account. as of august 31,
40% of the work had been completed.
c. the company paid $7,200 for 4 months' rent in advance. the entire amount was placed into prepaid rent.
d. the company sold equipment costing $2,400 for $5,400 to a customer in return for a 3-month note. the sale
was properly recorded on august 1. auto detailing, inc. is charging 12% interest on the note. the customer
will pay the note and all interest after 3 months.
prepare the appropriate journal entries for auto detailing, inc. as of august 31, for each of the above
transactions.

This problem has been solved! see the answercompute and interpret altman's z-scoresfollowing is selected financial information for ebay, for its fiscal years 2005 and 2006.(in millions, except per share data) 2006 2005current assets $ 4,970.59 $ 3,183.24current liabilities 2,518.39 1,484.93total assets 13,494.01 11,788.99total liabilities 2,589.38 1,741.00shares outstanding 1,368.51 1,404.18retained earnings 4,538.35 2,819.64stock price per share 30.07 43.22sales 5,969.74 4,552.40earnings before interest and taxes 1,439.77 1,445.18compute and interpret altman z-scores for the company for both years. (do not round until your final answer; then round your answers to two decimal places.)2006 z-score = answer2005 z-score = answerwhich of the following best describes the company's likelihood to go bankrupt given the z-score in 2006 compared to 2007.the z-score in 2006 is half of the 2005 score. both z-scores are well above the score that represents a healthy company.the z-score in 2006 is double the 2005 score. the z-score has increased sharply, which suggests the company has greatly increased the risk of bankruptcy.the z-score in 2006 is half of the 2005 score. the z-score has decreased sharply, which suggests the company is in financial distress.the z-score in 2006 is double the 2005 score. the z-score has increased sharply, which suggests the company has greatly lowered the risk of bankruptcy.