At the beginning of 2018, a parent company sold a patent, carried on its books at $4,000,000, to its subsidiary for $3,000,000. The patent had a remaining life of five years and straight-line amortization is used. It is now the end of 2020, and the subsidiary still owns the patent. On the 2020 consolidation working paper, eliminations (I): - increase the patent by $800,000. - reduce the parent's investment account by $600,000. - increase the subsidiary's beginning retained earnings by $200,000. - reduce amortization expense by $400,000.

During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?

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As manager of kids skids, meghan wants to develop her relationship management skills. in order to do this, she learns how to