A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $3,000 to start each quarter. Fill in the missing amounts. Quarter (000 omitted)
1 2 3 4 Year
Cash balance, beginning $ 9 $ 3 3 $ 3 $ 9
Add collections from customers 77 107 379
Total cash available
Less disbursements: 86 110 388
Purchase of inventory 46 56 30
Selling and administrative
expenses 32 30 109
Equipment purchases 13 9 21 53
Dividends 2 2 2 2
Total disbursements 99
Excess (deficiency) of cash
available over disbursements (2) 7
Financing:
Borrowings 7
Repayments (including interest)
Total financing (9)
Cash balance, ending
Interest will total $1,000 for the year

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)

When the national economy goes from bad to better, market research shows changes in the sales at various types of restaurants. projected 2011 sales at quick-service restaurants are $164.8 billion, which was 3% better than in 2010. projected 2011 sales at full-service restaurants are $184.2 billion, which was 1.2% better than in 2010. how will the dollar growth in quick-service restaurants sales compared to the dollar growth for full-service places?

Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?