Jack owns a bicycle shop where he sells and repairs bicycles. His revenue is $400,000 per year. His shop is in a building that he owns and could rent for $20,000 per year. He has an assistant to whom he pays a $30,000 salary each year. He paid $100,000 to purchase the inventory of bicycles he sells. He pays a total of $50,000 in taxes, insurance, and utilities each year. In order to operate his shop, Jack gave up his job as a CPA, where he earned $100,000 per year. What are Jack's implicit costs

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.

In order to be thoughtful about the implementation of security policies and controls, leaders must balance the need to reduce with the impact to the business operations. doing so could mean phasing security controls in over time or be as simple as aligning security implementation with the business’s training events.

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?