On January 1, Year 1, Prairie Enterprises purchased a parcel of land for $28,000 cash. At the time of purchase, the company planned to use the land for a warehouse site. In Year 3, Prairie Enterprises changed its plans and sold the land. Required a. Assume that the land was sold for $29,500 in Year 3. 1. Show the effect of the sale on the accounting equation. 2. What amount would Prairie report on the Year 3 income statement related to the sale of the land? 3. What amount would Prairie report on the Year 3 statement of cash flows related to the sale of the land? b. Assume that the land was sold for $24,000 in Year 3. 1. Show the effect of the sale on the accounting equation. 2. What amount would Prairie report on the Year 3 income statement related to the sale of the land? 3. What amount would Prairie report on the Year 3 statement of cash flows related to the sale of the land?

Which statement best describes entrepreneurship aitmakes people very rich b it relies on large financial investments c it is only possible in the retail industry d it requires creativity and ambition

If a transformational leader is supposed to be so smart and visionary, why would he or she emphasize empowerment in his or her leadership approach?

The following data were taken from the records of clarkson company for the fiscal year ended june 30, 2017. raw materials inventory 7/1/16 $58,100 factory insurance $4,800 raw materials inventory 6/30/17 46,600 factory machinery depreciation 17,100 finished goods inventory 7/1/16 99,700 factory utilities 29,400 finished goods inventory 6/30/17 21,900 office utilities expense 9,350 work in process inventory 7/1/16 21,200 sales revenue 560,500 work in process inventory 6/30/17 29,400 sales discounts 4,700 direct labor 147,550 plant manager’s salary 63,400 indirect labor 25,360 factory property taxes 9,910 accounts receivable 28,000 factory repairs 2,500 raw materials purchases 97,300 cash 39,200 a) prepare a cost of goods manufactured schedule (assume all raw materials used were direct materials). b) prepare an income statement through gross profit c)prepare the current assets section of the balance sheet at june 30, 2014