The following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in the northeastern United States.
If revenue is to be recognized in February, indicate the amount. If revenue is not to be recognized in February, explain why.

Activity Amount or Explanation
a. Swing Hard collected $15,000 from customers for-
lessons given in February.
b. Swing Hard sold a gift card for golf lessons-
for $150 cash in February.
c. Swing Hard received $4,000 from credit sales-
made to customers in January.
d. Swing Hard collects $2,250 in advance-
payments for golf lessons to start in June.
e. Swing Hard bills a customer $125 for-
golf lessons given between February 25 and February 28.
The bill is to be paid in March.

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.