Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars.

Account Titles Debit Credit
Cash 13
Accounts receivable 10
Prepaid insurance 5
Machinery 72
Accumulated depreciation
Accounts payable 6
Wages payable
Income taxes payable
Common stock (4,000 shares) 7
Additional paid-in capital 52
Retained earnings 4
Revenues (not detailed) 59
Expenses (not detailed) 20
Totals 124 124

Other data not yet recorded at December 31 include:

Insurance expired during current year, $2.
Wages payable, $4.
Depreciation expense for the current year, $6.
Income tax expense, $7.

Required:

Using the adjusted balances, give the closing entry for the current year.

One investigating company tracked all credit card purchase during 2012 and measured two variables: (1) the type of credit card used (visa, mastercard, american express, or discover), and (2) the amount (in dollars) of each purchase. identify the level of each variable measured.

Why should managers invest any excess cash

Cardinal company is considering a project that would require a $2,725,000 investment in equipment with a useful life of five years. at the end of five years, the project would terminate and the equipment would be sold for its salvage value of $400,000. the company’s discount rate is 14%. the project would provide net operating income each year as follows: sales $2,867,000 variable expenses 1,125,000 contribution margin 1,742,000 fixed expenses: advertising, salaries, and other fixed out-of-pocket costs $706,000 depreciation 465,000 total fixed expenses 1,171,000 net operating income $571,000 1. which item(s) in the income statement shown above will not affect cash flows? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. any boxes left with a question mark will be automatically graded as incorrect.) (a)sales (b)variable expenses (c) advertising, salaries, and other fixed out-of-pocket costs expenses (d) depreciation expense 2. what are the project’s annual net cash inflows? 3.what is the present value of the project’s annual net cash inflows? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 4.what is the present value of the equipment’s salvage value at the end of five years? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.) 5.what is the project’s net present value? (use the appropriate table to determine the discount factor(s) and final answer to the nearest dollar amount.)