Milo Corp. opened Monday, June 1st with inventory of $50,000 and cash in the bank of $70,000. These were its only assets. All start-up financing came from the owner's pesonal funds. The one employee also started on June 1st and is paid $1,000 a week every Friday for the week just ending (the work week is 5 days). Payroll is the only expense. On June 5th, the company made a credit sale of $9,000 out of inventory. On June 10th, it receivd $12,000 of new inventory, purchased on credit with repayment due in 45 days. The company bought a delivery truck for $10,000 cash on June 25th. The books were closed on Tuesday, June 30th. Show the amounts in the following balance sheet accounts as of Tuesday, June 30th. Cash Accounts Receivable Inventory Fixed Assets Accounts Payable Accruals

Grace period is a period of time before the credit card company starts charging late fees.truefalse

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Select the correct text in the passage.which sentences in the given passage explains the limitations of monetary policies? monetary policies - limitationsmonetary policies are set by the central bank to bring about growth in the economy.de can be achieved these policiesw at anden i sca poit would be fair to say that changes in the economy cannot be brought about instantly by monetary po des.monetary policy can only influence not control, economic growththe monetary policy makers do work on sining the perfect balance between demand and supply of money in the economy