During January 2018, the first month of operations, a consulting firm had following transactions: 1. Issued common stock to owners in exchange for $48,000 cash.
2. Purchased $12,000 of equipment, paying $2,400 cash and signing a promissory note for $9,600.
3. Received $21,600 in cash for consulting services performed in January.
4. Purchased $3,600 of supplies on account; all of the supplies were used in January
5. Provided consulting services on account in the amount of $38,400.
6. Paid $1,800 on account.
7. Paid $7,200 to employees for work performed during January.
8. Received a bill for utilities for January of $8,150; the bill remains unpaid.
What is the total expenses that will be reported on the income statement for the month ended January 31?
a. $18,950.
b. $10,800.
c. $9,000.
d. $19,550.

Suppose you win a small lottery and have the choice of two ways to be paid: you can accept the money in a lump sum or in a series of payments over time. if you pick the lump sum, you get $2,950 today. if you pick payments over time, you get three payments: $1,000 today, $1,000 1 year from today, and $1,000 2 years from today. 1) at an interest rate of 6% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 2) at an interest rate of 9% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 3) years after you win the lottery, a friend in another country calls to ask your advice. by wild coincidence, she has just won another lottery with the same payout schemes. she must make a quick decision about whether to collect her money under the lump sum or the payments over time. what is the best advice to give your friend? a) the lump sum is always better. b) the payments over time are always better. c) it will depend on the interest rate; advise her to get a calculator. d) none of these answers is good advice.

According to ceo heidi ganahl, camp bow wow requires a strong and consistent corporate culture to keep all local franchise owners "on the same page" and to follow a common template for the business and brand. this culture could become detrimental over time because: (a) strong consistent cultures are inflexible and incapable of adapting to environmental change (b) strong consistent cultures are too flexible and capable of adapting to environmental change (c) strong consistent cultures don’t perform well in any environment (d) the passing of time provides stability and predictability for businesses

Adamson company manufactures four lines of garden tools. as a result of an activity analysis, the accounting department has identified eight activity cost pools. each of the product lines is produced in large batches, with the whole plant devoted to one product at a time. classify each of the following activities or costs as either unit-level, batch-level, product-level, or facility-level. activities (a) machining parts. (b) product design. (c) plant maintenance. (d) machine setup. (e) assembling parts. (f) purchasing raw materials. (g) property taxes. (h) painting.