Gulf States Manufacturing has the following data from year 1 operations, which are to be used for developing year 2 budget estimates: Sales revenues (17,500 units) $ 1,575,000 Manufacturing costs Materials $ 281,000 Variable cash costs 383,000 Fixed cash costs 153,000 Depreciation (fixed) 189,000 Marketing and administrative costs Marketing (variable, cash) 196,000 Marketing depreciation 47,000 Administrative (fixed, cash) 188,000 Administrative depreciation $ 17,000 Total costs $ 1,454,000 Operating profits $ 121,000 All depreciation charges are fixed. Old manufacturing equipment with an annual depreciation charge of $15,050 will be replaced in year 2 with new equipment that will incur an annual depreciation charge of $21,500. Sales volume and prices are expected to increase by 7 percent and 3 percent, respectively. On a per-unit basis, expectations are that materials costs will increase by 5 percent and variable manufacturing costs will decrease by 2 percent. Fixed cash manufacturing costs are expected to decrease by 3 percent. Variable marketing costs will change with volume. Administrative cash costs are expected to increase by 3 percent. Inventories are kept at zero. Gulf States operates on a cash basis.

Unrecorded depreciation on the trucks at the end of the year is $40,000. the total amount of accrued interest expense at year-end is $6,000. the cost of unused office supplies still available at year-end is $2,000. 1. use the above information about the company’s adjustments to complete a 10-column work sheet. 2a. prepare the year-end closing entries for dylan delivery company as of december 31, 2017. 2b. determine the capital amount to be reported on the december 31, 2017 balance sheet.

Alandowner entered into a written agreement with a real estate broker whereby the broker would receive a commission of 10% of the sale price if he procured a "ready, willing, and able buyer" for the landowner's property and if the sale actually proceeded through closing. the broker found a buyer who agreed in writing to buy the property from the landowner for $100,000, the landowner's asking price. the buyer put up $6,000 as a down payment. the agreement between the landowner and the buyer contained a liquidated damages clause providing that, if the buyer defaulted by failing to tender the balance due of $94,000 at the closing date, damages would be 10% of the purchase price. the landowner included that clause because she was counting on using the proceeds of the sale for a business venture that would likely net her at least $10,000. the buyer became seriously ill and defaulted. when he recovered, he demanded that the landowner return his $6,000, and the landowner refused. the broker also demanded the $6,000 from the landowner and was refused. the broker and the buyer filed separate suits against the landowner, with the buyer pleading impossibility of performance. the two cases are consolidated into a single case. how should the court rule as to the disposition of the $6,000?

You are an employee of an u. s. firm that produces personal computers in thailand and then exports them to the united states and other countries for sale. the personal computers were originally produced in thailand to take advantage of relatively low labor costs and a skilled workforce. other possible locations considered at that time were malaysia and hong kong. the u. s. government decides to impose punitive 100% ad valorem tariffs on imports of computers from thailand to punish the country for administrative trade barriers that restrict u. s. exports to thailand. how do you think your firm should respond? what does this tell you about the use of targeted trade barriers?