The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. No. Account Title Debit Credit 101
Cash $ 18,000 126
Supplies 9,600 128
Prepaid insurance 2,000 167
Equipment 23,000 168
Accumulated depreciation—Equipment $ 6,500 301
A. Cruz, Capital 40,872 302
A. Cruz, Withdrawals 6,000 404
Services revenue 48,100 612
Depreciation expense—Equipment 2,000 622
Salaries expense 28,042 637
Insurance expense 2,020 640
Rent expense 3,223 652
Supplies expense 1,587
Totals $ 95,472 $ 95,472
1. Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901.
2. Prepare the December 31, post-closing trial balance for Cruz Company. Note: A. Cruz, Capital was $40,872 on December 31 of the prior year.

Mikkelson corporation's stock had a required return of 12.50% last year, when the risk-free rate was 3% and the market risk premium was 4.75%. then an increase in investor risk aversion caused the market risk premium to rise by 2%. the risk-free rate and the firm's beta remain unchanged. what is the company's new required rate of return? (hint: first calculate the beta, then find the required return.) do not round your intermediate calculations.

Emerson has an associate degree based on the chart below how will his employment opportunities change from 2008 to 2018

You are the owner of a local honda dealership. unlike other dealerships in the area, you take pride in your “no haggle” sales policy. last year, your dealership earned record profits of $1.5 million. however, according to the local chamber of commerce, your earnings were 10 percent less than either of your competitors. in your market, the price elasticity of demand for midsized honda automobiles is 4.5. in each of the last five years, your dealership has sold more midsized automobiles than any other honda dealership in the nation. this entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (msrp) in each year. taking this into account, your marginal cost of a midsized automobile is $11,000. what price should you charge for a midsized automobile if you expect to maintain your record sales?