Kingbird Company has the following stockholders’ equity accounts at December 31, 2017.Common Stock ($100 par value, authorized 8,600 shares) $473,000Retained Earnings 281,300Prepare entries in journal form to record the following transactions, which took place during 2018.(1) 280 shares of outstanding stock were purchased at $98 per share. (These are to be accounted for using the cost method.)(2) A $21 per share cash dividend was declared.(3) The dividend declared in (2) above was paid.(4) The treasury shares purchased in (1) above were resold at $102 per share.(5) 460 shares of outstanding stock were purchased at $105 per share.(6) 350 of the shares purchased in (5) above were resold at $97 per share. Prepare the stockholders’ equity section of Kingbird Company’s balance sheet after giving effect to these transactions, assuming that the net income for 2018 was $103,200. State law requires restriction of retained earnings for the amount of treasury stock.

The following balance sheet for the los gatos corporation was prepared by a recently hired accountant. in reviewing the statement you notice several errors. los gatos corporation balance sheet at december 31, 2018 assets cash $ 44,000 accounts receivable 86,000 inventories 57,000 machinery (net) 122,000 franchise (net) 32,000 total assets $ 341,000 liabilities and shareholders' equity accounts payable $ 54,000 allowance for uncollectible accounts 7,000 note payable 59,000 bonds payable 112,000 shareholders' equity 109,000 total liabilities and shareholders' equity $ 341,000 additional information: cash includes a $22,000 restricted amount to be used for repayment of the bonds payable in 2022. the cost of the machinery is $194,000. accounts receivable includes a $22,000 note receivable from a customer due in 2021. the note payable includes accrued interest of $7,000. principal and interest are both due on february 1, 2019. the company began operations in 2013. income less dividends since inception of the company totals $37,000. 52,000 shares of no par common stock were issued in 2013. 200,000 shares are authorized. required: prepare a corrected, classified balance sheet. (amounts to be deducted should be indicated by a minus sign.)

Jen left a job paying $75,000 per year to start her own florist shop in a building she owns. the market value of the building is $120,000. she pays $35,000 per year for flowers and other supplies, and has a bank account that pays 5 percent interest. what is the economic cost of jen's business?

Factors like the unemployment rate,the stock market,global trade,economic policy,and the economic situation of other countries have no influence on the financial status of individuals. true or false