For each of the following items, calculate the amount of revenue or expense that should be recognized on the income statement for pelkey co. for the year ended december 31, 2019: Required:
a. cash collected from customers during the year amounted to $868,000, and accounts receivable increased by $41,200. how much were sales on account for the year ended december 31, 2019.
b. Cash payments for income taxes during the year were $169,000, and income taxes payable increased by $44,100. How much was income tax expense?
c. Cash paid to suppliers during the year amounted to $759,000, accounts payable decreased by $36,100, and inventories decreased by $16,100. How much was cost of 32%) 320 CPU?
d. The net book value of buildings increased by $114,000. No buildings were sold, and a new building costing $263,000 was purchased during the year. How much was depreciation expense?

On july 1, 2016, killearn company acquired 103,000 of the outstanding shares of shaun company for $21 per share. this acquisition gave killearn a 40 percent ownership of shaun and allowed killearn to significantly influence the investee's decisions. as of july 1, 2016, the investee had assets with a book value of $6 million and liabilities of $1,468,500. at the time, shaun held equipment appraised at $140,000 above book value; it was considered to have a seven-year remaining life with no salvage value. shaun also held a copyright with a five-year remaining life on its books that was undervalued by $562,500. any remaining excess cost was attributable to goodwill. depreciation and amortization are computed using the straight-line method. killearn applies the equity method for its investment in shaun. shaun's policy is to declare and pay a $1 per share cash dividend every april 1 and october 1. shaun's income, earned evenly throughout each year, was $580,000 in 2016, $606,600 in 2017, and $649,200 in 2018. in addition, killearn sold inventory costing $93,000 to shaun for $155,000 during 2017. shaun resold $97,500 of this inventory during 2017 and the remaining $57,500 during 2018.a. determine the equity income to be recognized by killearn during each of these years. 2016 2017 2018b. compute killearn’s investment in shaun company’s balance as of december 31, 2018.

Your dormitory, griffingate, has appointed you central banker of its economy, which deals in the currency of wizcoins. assume that the velocity of wizcoins in griffingate is constant at 10,000 transactions per year. right now, real gdp is 1,000 wizcoins, and there are 2,000 wizcoins in existence.

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