Accounts receivable subsidiary ledger OBJ. 2 The revenue and cash receipts journals for Polaris Productions Inc. follow. The accoun receivable control account has a January 1, 20Y4, balance of $3,790 consisting of an amount due from Clear Pointe Studios Inc REVENUE JOURNAL Page 16 Invoice No. Account Debited Date Post. Ref Accts. Rec. Dr. Fees Earned Cr. 20Y4 Jan. 6 2,300 5,100 3 Echo B 2,980 25 4 Clear Pointe Studios Inc. 1,650 29 3,650 15,680 (12) (41) CASH RECEIPTS JOURNAL Page 36 Fees Accts. Rec. Cash Earned Cr. Post. Ref. Date Account Credited Dr. 20Y4 3,790 6 Clear Pointe Studios Inc. 3,790 Jan. 3,200 3,200 18 Echo Broadcasting Co. 2,300 2,300 5,100 5,100 28 Gold Coast Media Inc. 11,190 3,200 14,390 31 (41) Prepare a listing of the accounts receivable customer balances and verify that the total s with the ending balance of the accounts receivable controlling account. agree

James jones is the owner of a small retail business operated as a sole proprietorship. during 2017, his business recorded the following items of income and expense: revenue from inventory sales $ 147,000 cost of goods sold 33,500 business license tax 2,400 rent on retail space 42,000 supplies 15,000 wages paid to employees 22,000 payroll taxes 1,700 utilities 3,600 compute taxable income attributable to the sole proprietorship by completing schedule c to be included in james’s 2017 form 1040. compute self-employment tax payable on the earnings of james’s sole proprietorship by completing a 2017 schedule se, form 1040. assume your answers to parts a and b are the same for 2018. further assume that james's business is not a service business, and that it has $155,000 unadjusted basis in tangible depreciable property. calculate james's 2018 section 199a deduction.

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.

In order to stay on track for long term financial goals, money for emergency spending should be taken first from your savings account. discretionary money. fixed expense money. net income.