Supplies were purchased on January 1, 2019; inventory of supplies on January 31, 2019, is $1,200. The prepaid advertising contract was signed on January 1, 2019, and covers a four-month period. Rent of $1,700 expired during the month. Depreciation is computed using the straight-line method. The equipment has an estimated useful life of 10 years with no salvage value.
a. Complete the worksheet for the month.
b. Prepare an income statement, statement of owner’s equity, and balance sheet. No additional investments were made by the owner during the month.
c. Journalize and post the adjusting entries.
d. If the adjusting entries had not been made for the month, would the net income be overstated or understated?

Budget in this final week, you will develop a proposed budget of $150,000 for the first year of the program and complete the final concept paper for the proposed program due for senior management review. the budget should identify the program's anticipated expenses for the year ahead. budget line items should be consistent with the proposed program and staffing plan. using the readings for the week, the south university online library, and the internet, complete the following tasks: create a proposed budget of $150,000 for the first year of the proposed program including the cost for personnel, supplies, education materials, marketing costs, and so on in a microsoft excel spreadsheet. you may transfer your budget to your report. justify the cost for each item of the proposed budget in a budget narrative.

Melissa is a very generous single woman. before this year, she had given over $11,400,000 in taxable gifts over the years and has completely exhausted her applicable credit amount. in the current year, melissa gave her daughter riley $100,000 and promptly filed her gift tax return. melissa did not make any other gifts this year. how much gift tax must riley pay the irs because of this transaction?

Bernard made a gift of $500,000 to his brother in 2014. due to bernard’s prior taxable gifts he paid $200,000 of gift tax. when bernard died in 2019, the applicable gift tax credit had increased. at bernard’s death, what amount related to the $500,000 gift to his brother is included in his gross estate?