g On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable$170,000 Inventory$980,000 Accumulated Depreciation—Building750,000 Notes Payable250,000 Administrative Expenses435,000 Office Supplies20,000 Building3,500,000 Retained Earnings1,987,000 Cash80,000 Salaries Payable8,000 Common Stock300,000 Sales8,245,000 Cost of Goods Sold5,500,000 Selling Expenses575,000 Dividends175,000 Store Supplies90,000 Interest Expense15,000 a. Prepare a multiple-step income statement for the fiscal year ended March 31, 20Y9. Royal Furnishings Company Income Statement For the Year Ended March 31, 20Y9 $ Gross profit $ Expenses: $ Total expenses $ Other revenue and expense: $ b. What is a major advantage of the multiple-step income statement over the single-step income statement?

The struter partnership has total partners’ equity of $510,000, which is made up of main, capital, $400,000, and frist, capital, $110,000. the partners share net income and loss in a ratio of 80% to main and 20% to frist. on november 1, adison is admitted to the partnership and given a 15% interest in equity and a 15% share in any income and loss. prepare journal entries to record the admission of adison for a 15% interest in the equity and a 15% share in any income and loss under the following independent assumptions. (1) record the admission of adison with an investment of $90,000 for a 15% interest in the equity and a 15% share in any income and loss. (2) record the admission of adison with an investment of $120,000 for a 15% interest in the equity and a 15% share in any income and loss. (3) record the admission of adison with an investment of $80,000 for a 15% interest in the equity and a 15% share in any income and loss.

Stosch company's balance sheet reported assets of $112,000, liabilities of $29,000 and common stock of $26,000 as of december 31, year 1. if retained earnings on the balance sheet as of december 31, year 2, amount to $74,000 and stosch paid a $28,000 dividend during year 2, then the amount of net income for year 2 was which of the following? a)$23,000 b) $35,000 c) $12,000 d)$42,000

Andy purchases only two goods, apples (a) and kumquats (k). he has an income of $125 and can buy apples at $5 per pound and kumquats at $5 per pound. his utility function is u(a, k) = 6a + 2k. what is his marginal utility for apples and his marginal utility for kumquats? andy's marginal utility for apples (mu subscript a) is mu subscript aequals 6 and his marginal utility for kumquats (mu subscript k) is