Warshaw Company is preparing the June Budget. The June budget includes the following data: Sales $100,000 Purchases of Merchandise $95,000 Depreciation of office equipment in Accounting Department $2,615 Insurance $11,544 Payroll expenses $5,722 a month plus 2% of sales (for sales and administrative personnel) Administrative office expenses incurred to order purchases are budgeted at 4% of purchases of merchandise only Purchase of equipment $3,537 Research and Development 8% of sales What is total operating expense for June? (hint: not everything listed is an operating expense)

Refer to the payoff matrix. suppose that speedy bike and power bike are the only two bicycle manufacturing firms serving the market. both can choose large or small advertising budgets. is there a nash equilibrium solution to this game?

Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?