Exercise 2.2 Preparing a Balance Sheet (LO2-4) The night manager of Willis Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28, current year. The dollar amounts were taken directly from the company’s accounting records and are correct. However, the balance sheet contains a number of errors in its headings, format, and the classification of assets, liabilities, and owners’ equity.

WILLIS TRANSPORTATION SERVICE
Manager’s Report
8 P. M. Thursday
AssetsOwners' Equity
Capital stock$94,000Accounts receivable$72,000
Retained earnings 62,000Notes payable 281,000
Cash 74,000Supplies 14,000
Building 90,000Land 70,000
Automobiles 175,000Accounts payable 58,000
$495,000 $495,000
Prepare a corrected balance sheet.

An electronics store is running a promotion where for every video game purchased, the customer receives a coupon upon checkout to purchase a second game at a 50% discount. the coupons expire in one year. the store normally recognized a gross profit margin of 40% of the selling price on video games. how would the store account for a purchase using the discount coupon?

David consumes two things: gasoline (g) and bread (b). david's utility function is u(g, b) = 10g^0.25 b^0.75. use the lagrange technique to solve for david's optimal choices of gasoline and bread as a function of the price of gasoline, p_g, the price of bread, p_b, and his income m. with recent decrease in the price of gasoline (maybe due to external shock such as shale gas production) does david increase his consumption of gasoline? for david, how does partial differential g/partial differential p_g depend on his income m? that is, how does david's change in gasoline consumption due to an increase in the price of gasoline depend on his income level? to answer these questions, find the cross-partial derivative, |partial differential^2 g/partial differential m partial differential p_g.

Both renewable and nonrenewable resources are used within our society. how do the uses of nonrenewable resources compare to the uses of renewable resources?