Use the information below to answer the following questions: common stock: $17,000 service revenue: $20,000 notes payable: $5,000 salaries expense: $10,000 accounts receivable: $7,000 ending retained earnings: $26,000 supplies: $2,000 insurance expense: $1,500 prepaid insurance: $3,000 utilities expense: $4,000 office equipment: $16,000 accounts payable: $4,000 cash: $24,000.
an income statement prepared for the year ended december 31 2013 would reflect net income of how much?
a balance sheet prepared as of december 31, 2013 would reflect total assets of how much?
a balance sheet prepared as of december 31, 2013 would reflect total liabilities of how much?
a balance sheet prepared as of december 31, 2013 would reflect total stockholders' equity of how much?

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u. s. parent on bank deposits held in london d. interest received by a u. s. parent on a loan to a subsidiary in mexico e. principal repayment received by u. s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u. s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

After graduation, you plan to work for dynamo corporation for 12 years and then start your own business. you expect to save and deposit $7,500 a year for the first 6 years (t = 1 through t = 6) and $15,000 annually for the following 6 years (t = 7 through t = 12). the first deposit will be made a year from today. in addition, your grandfather just gave you a $32,500 graduation gift which you will deposit immediately (t = 0). if the account earns 9% compounded annually, how much will you have when you start your business 12 years from now?

An electronics store is running a promotion where for every video game purchased, the customer receives a coupon upon checkout to purchase a second game at a 50% discount. the coupons expire in one year. the store normally recognized a gross profit margin of 40% of the selling price on video games. how would the store account for a purchase using the discount coupon?