Last year Anderson Corporation reported a cost of goods sold of $118,000. The company's inventory at the beginning of the year was $14,600, and its inventory at the end of the year was $24,400. The prepaid expense account increased by $3,800 between the beginning and end of the year, and the accounts payable account decreased by $5,800. Cost of goods sold adjusted to the cash basis under the direct method would be:

How do communism and socialism differ in terms of the role that government plays in the economy ?

Perez, inc., applies the equity method for its 25 percent investment in senior, inc. during 2018, perez sold goods with a 40 percent gross profit to senior, which sold all of these goods in 2018. how should perez report the effect of the intra-entity sale on its 2018 income statement?

Christopher kim, cfa, is a banker with batts brothers, an investment banking firm. kim follows the energy industry and has frequent contact with industry executives. kim is contacted by the ceo of a large oil and gas corporation who wants batts brothers to underwrite a secondary offering of the company's stock. the ceo offers kim the opportunity to fly on his private jet to his ranch in texas for an exotic game hunting expedition if kim's firm can complete the underwriting within 90 days. according to cfa institute standards of conduct, kim: a) may accept the offer as long as he discloses the offer to batts brothers. b) may not accept the offer because it is considered lavish entertainment. c) must obtain written consent from batts brothers before accepting the offer.