Consider a household consisting of four college friends. The friends have made a commitment to live together for the next five years. Presently they live in Milwaukee where Abby will earn $200,000, Bonnie will earn $120,000, Cathy will earn $315,000, and Donna will earn $150,000 over the next five years. They have the option of moving to Miami. Moving to Miami would impose a one-time moving cost of $5,000 on each person. If they move to Miami, however, Abby will earn $180,000, Bonnie will earn $150,000, Cathy will earn $300,000, and Donna will earn $100,000 over the next five years. Moreover, each friend prefers to live in Miami over Milwaukee. In particular, Abby and Bonnie both value the quality of life in Miami versus Milwaukee over the next five years at $40,000 while Cathy and Donna place the value at $25,000 each. Should the household move to Miami or stay in Milwaukee? Is anyone a tied-mover or a tied stayer?

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.