Financial Statements from the End-of-Period Spreadsheet Demo Consulting is a consulting firm owned and operated by Jesse Flatt. The following end-of-period spreadsheet was prepared for the year ended August 31, 20Y9: Demo Consulting
End-of-Period Spreadsheet
For the Year Ended August 31, 20Y9
Unadjusted Adjusted
Trial Balance Adjustments Trial Balance
Account Title Dr. Cr. Dr. Cr. Dr. Cr.
Cash 11,530 11,530
Accounts Receivable 27,450 27,450
Supplies 2,910 2,440 470
Land 23,880 23,880
Office Equipment 22,510 22,510
Accumulated Depreciation 3,050 1,450 4,500
Accounts Payable 7,410 7,410
Salaries Payable 360 360
Common Stock 9,200 9,200
Retained Earnings 18,800 18,800
Dividends 3,570 3,570
Fees Earned 75,900 75,900
Salary Expense 20,310 360 20,670
Supplies Expense 2,440 2,440
Depreciation Expense 1,450 1,450
Miscellaneous Expense 2,200 2,200
114,360 114,360 4,250 4,250 116,170 116,170
Based on the preceding spreadsheet, prepare an income statement, statement of stockholders' equity, and balance sheet for Demo Consulting. During the year ended August 31, 20Y9, $15,000 of additional common stock was issued.

In december of 2004, the company you own entered into a 20-year contract with a grain supplier for daily deliveries of grain to its hot dog bun manufacturing facility. the contract called for "10,000 pounds of grain" to be delivered to the facility at the price of $100,000 per day. until february 2017, the supplier provided processed grain which could easily be used in your manufacturing process. however, no longer wanting to absorb the cost of having the grain processed, the supplier began delivering whole grain. the supplier is arguing that the contract does not specify the type of grain that would be supplied and that it has not breached the contract. your company is arguing that the supplier has an onsite processing plant and processed grain was implicit to the terms of the contract. over the remaining term of the contract, reshipping and having the grain processed would cost your company approximately $10,000,000, opposed to a cost of around $1,000,000 to the supplier. after speaking with in-house counsel, it was estimated that litigation would cost the company several million dollars and last for years. weighing the costs of litigation, along with possible ambiguity in the contract, what are three options you could take to resolve the dispute? which would be the best option for your business and why?

Suppose portugal has 700 workers and 26,000 units of capital, and france has 18,000 workers and 700 units of capital. technology is identical in both countries. assume that wine is the capital-intensive good and cloth is the labor-intensive good. which of the following statements is correct if the nations start trading with each other? a) wages will increase in portugal. b) rental rates in france will increase. c) wages in france will decrease. d) rental rates in portugal will increase.

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?