Herc co.’s inventory at december 31, year 1, was $1.5 million based on a physical count priced at cost, and before any necessary adjustment for the following: merchandise costing $90,000 was shipped fob shipping point from a vendor on december 30, year 1, and was received and recorded on january 5, year 2. goods in the shipping area were excluded from inventory although shipment was not made until january 4, year 2. the goods, billed to the customer fob shipping point on december 30, year 1, had a cost of $120,000. what amount should herc report as inventory in its december 31, year 1, balance sheet? a. $1,500,000
b. $1,590,000
c. $1,620,000
d. $1,710,000

Benton company (bc), a calendar year entity, has one owner, who is in the 37% federal income tax bracket (any net capital gains or dividends would be taxed at a 20% rate). bc's gross income is $395,000, and its ordinary trade or business deductions are $245,000. ignore the standard deduction (or itemized deductions) and the deduction for qualified business income. if required, round computations to the nearest dollar. a. bc is operated as a proprietorship, and the owner withdraws $100,000 for personal use. bc's taxable income for the current year is $ , and the tax liability associated with the income from the sole proprietorship is $ . b. bc is operated as a c corporation, pays out $100,000 as salary, and pays no dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . the shareholder's tax liability is $ . c. bc is operated as a c corporation and pays out no salary or dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . d. bc is operated as a c corporation, pays out $100,000 as salary, and pays out the remainder of its earnings as dividends. bc's taxable income for the current year is $ , and bc's tax liability is $ .

In our daily interactions we can find ourselves listening to other people solely for the purpose of finding weakness in their positions so that we can formulate a convincing response. select one: true false

The following information is needed to reconcile the cash balance for gourmet catering services. * a deposit of $5,600 is in transit. * outstanding checks total $1,000. * the book balance is $6,400 at february 28, 2019. * the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent. * the bank balance at february 28, 2019 was $17,410. * a deposit of $400 was credited by the bank for $4,000. * a customer's check for $3,300 was returned for nonsufficient funds. * the bank service charge is $90. what was the adjusted book balance?