The following information was abstracted from the accounts of the general fund of the city of rome after the books had been closed for the fiscal year ended june 30, 2017. postclosing trial balance june 30, 2016 transactions july 1, 2016, to june 30, 2017 postclosing trial balance june 30, 2017 debits credits cash $ 515,500 $ 1,304,000 $ 1,337,400 $ 482,100 taxes receivable 30,500 1,343,000 1,309,600 63,900 $ 546,000 $ 546,000 allowance for uncollectible taxes 5,600 5,600 8,000 8,000 accounts payable 95,400 1,324,900 1,240,500 11,000 fund balance 445,000 82,000 527,000 $ 546,000 $ 546,000 there were no transfers into the general fund, but there was one transfer out. prepare journal entries to record the transactions for the fiscal year ended june 30, 2017. include closing entries. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

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Read the following scenario and answer the question in 5-10 sentences. you are the owner of a small business that is a defendant in a lawsuit in federal court. you received bad news from your lawyer that the judge did not allow certain documents to be admitted as evidence in court and that the jury reached a $50,000 verdict in favor of the plaintiff. your lawyer tells you that it is within your legal right to hire him to file an appeal with the united states court of appeals. if the appellate court rules in your favor, you may be able to avoid paying part or all of the $50,000. evaluate your lawyer’s suggestion about appealing the decision.

An important application of regression analysis in accounting is in the estimation of cost. by collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. consider the following sample of production volumes and total cost data for a manufacturing operation. production volume (units) total cost ($) 400 4000 450 5000 550 5400 600 5900 700 6400 750 7000 compute b 1 and b 0 (to 2 decimals if necessary). b 1 b 0 complete the estimated regression equation (to 2 decimals if necessary). = + x what is the variable cost per unit produced (to 1 decimal)? $ compute the coefficient of determination (to 4 decimals). note: report r 2 between 0 and 1. r 2 = what percentage of the variation in total cost can be explained by the production volume (to 2 decimals)? % the company's production schedule shows 500 units must be produced next month. what is the estimated total cost for this operation (to 2 decimals)? $