Western company begins the year with $50,000 of inventory on hand. during 2018, western purchases additional inventory for $100,000 cash. sales for the year, all on account, totaled $70,000. a physical count determined the cost of inventory at the end of the year to be $110,000. assuming western uses a periodic inventory system, the journal entry at the end of the year once the physical count occurs includes which of the following:
credit purchases $100,000
debit cost of goods sold $40,000
debit inventory (ending) $110,000
credit inventory (beginning) $50,000

Select the statement that indicates tina's company is a partnership. tina jones is a dancer specializing in latin dance styles. she always wanted to have her own dance studio where she could teach dancing to young and old alike. in 2006, she opened her first dance studio, electric diva, in madison triangle. it was a great choice as a business location because it's well-connected by highways to most places in the city. she leased the space for three years. her initial investment included a good sound system, cheerful interior design, and strong flooring. to raise capital for the business, tina turned to her brother-in-law, philip. philip made half the financial investment. he manages the accounts and social media needs of the business. he has a 30% share in trisha's business. together, they expanded the business to three dance studios in the city and plan to open franchises in other cities.

4. suppose that pollution in a neighborhood comes from two factories, with marginal benefit curves given by mb1 = 12 – p1 and mb2 = 8 – p2. the level of pollution in the neighborhood is given by p = p1 + p2. the government wants to limit pollution by instituting a pollution-rights market. the government’s desired level of p is 10, so it prints 10 pollution rights and offers them for sale to the firms.a)find the equilibrium selling price of a pollution right, as well as the allocation of rights (and hence pollution levels) across the two factories. b)repeat part (a) for the case where the government’s desired level of pollution equals 14. c)comment on the usefulness of a pollution rights market in achieving efficient levels of pollution abatement.

Compute the cost of not taking the following cash discounts. (use a 360-day year. do not round intermediate calculations. input your final answers as a percent rounded to 2 decimal places.)