Exercise 3-5 kingbird, inc. has the following balances in selected accounts on december 31, 2019. accounts receivable $ 0 accumulated depreciation—equipment 0 equipment 8,000 interest payable 0 notes payable 9,800 prepaid insurance 3,660 salaries and wages payable 0 supplies 2,600 unearned service revenue 28,400 all the accounts have normal balances. the information below has been gathered at december 31, 2019. 1. kingbird, inc. borrowed $9,800 by signing a 12%, one-year note on september 1, 2019. 2. a count of supplies on december 31, 2019, indicates that supplies of $900 are on hand. 3. depreciation on the equipment for 2019 is $1,500. 4. kingbird, inc. paid $3,660 for 12 months of insurance coverage on june 1, 2019. 5. on december 1, 2019, kingbird, inc. collected $28,400 for consulting services to be performed from december 1, 2019, through march 31, 2020. 6. kingbird, inc. performed consulting services for a client in december 2019. the client will be billed $4,500. 7. kingbird, inc. pays its employees total salaries of $9,500 every monday for the preceding 5-day week (monday through friday). on monday, december 29, employees were paid for the week ending december 26. all employees worked the last 3 days of 2019. prepare adjusting entries for the seven items described above.

Which of the following statements is correct? a. two firms with identical sales and operating costs but with different amounts of debt and tax rates will have different operating incomes by definition. b. free cash flow (fcf) is, essentially, the cash flow that is available for interest and dividends after the company has made the investments in current and fixed assets that are necessary to sustain ongoing operations. c. retained earnings as reported on the balance sheet represent cash and, therefore, are available to distribute to stockholders as dividends or any other required cash payments to creditors and suppliers. d. if a firm is reporting its income in accordance with generally accepted accounting principles, then its net income as reported on the income statement should be equal to its free cash flow. e. after-tax operating income is calculated as ebit(1 - t) + depreciation.

Consider an economy where government expenditures are 10 and total tax revenues are 10. the supply of labor is fixed at 125 and the supply of capital is fixed at 8. the economy is described by the following equations. y k to the power of 1 divided by 3 end exponent l to the power of 2 divided by 3 end exponent c 2.5 + 0.75 ( y - t ) i 10 - 0.5 r the level of private savings is

During the year, the delph company had no beginning or ending inventories and it started, completed, and sold only two jobs—job d-75 and job c-100. it provided the following information related to those two jobs: job d-75: molding fabrication total direct materials cost $ 375,000 $ 325,000 $ 700,000 direct labor cost $ 200,000 $ 160,000 $ 360,000 machine-hours 15,000 5,000 20,000 job c-100: molding fabrication total direct materials cost $ 300,000 $ 250,000 $ 550,000 direct labor cost $ 175,000 $ 225,000 $ 400,000 machine-hours 5,000 25,000 30,000delph had no overapplied or underapplied manufacturing overhead during the year. assume delph uses a plantwide overhead rate based on machine-hours.1-a. compute the predetermined plantwide overhead rate.1-b. compute the total manufacturing costs assigned to job d-70 and job c-200.1-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 1-d. what is delph's cost of goods sold for the year? assume delph uses departmental overhead rates based on machine-hours.2-a. compute the predetermined departmental overhead rates.2-b. compute the total manufacturing costs assigned to job d-70 and job c-200.2-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 2-d. what is delph's cost of goods sold for the year?