Ullumber company had the following assets on january 1, 2022.
item cost purchase date useful life (in years) salvage value
machinery $72,000 jan. 1, 2012 10 $ 0
forklift 31,000 jan. 1, 2019 5 0
truck 37,400 jan. 1, 2017 8 3,000
during 2022, each of the assets was removed from service. the machinery was retired on january 1. the forklift was sold on june 30 for $12,100. the truck was discarded on december 31.
journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. the company uses straight-line depreciation. all depreciation was up to date as of december 31, 2021. (credit account titles are automatically indented when the amount is entered. do not indent manually. if no entry is required, select "no entry" for the account titles and enter 0 for the amounts.)

Exercise 8-6 goods in transit [lo8-2] the kwok company's inventory balance on december 31, 2016, was $190,000 (based on a 12/31/16 physical count) before considering the following transactions: 1. goods shipped to kwok f.o.b. destination on december 20, 2016, were received on january 4, 2017. the invoice cost was $35,000. 2. goods shipped to kwok f.o.b. shipping point on december 28, 2016, were received on january 5, 2017. the invoice cost was $22,000. 3. goods shipped from kwok to a customer f.o.b. destination on december 27, 2016, were received by the customer on january 3, 2017. the sales price was $45,000 and the merchandise cost $27,000. 4. goods shipped from kwok to a customer f.o.b. destination on december 26, 2016, were received by the customer on december 30, 2016. the sales price was $25,000 and the merchandise cost $18,000. 5. goods shipped from kwok to a customer f.o.b. shipping point on december 28, 2016, were received by the customer on january 4, 2017. the sales price was $30,000 and the merchandise cost $17,000. required: determine the correct inventory amount to be reported in kwok's 2016 balance sheet.

The 39 percent and 38 percent tax rates both represent what is called a tax "bubble." suppose the government wanted to lower the upper threshold of the 39 percent marginal tax bracket from $335,000 to $208,000. what would the new 39 percent bubble rate have to be? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places,e.g., 32.16.)

What do you recommend adam do to increase production in a business setting that does not seem to value high productivity?