Based on the following Information and the post-closing trial Balance that follow, prepare a balance sheet in report form at December 31 of the current year:
The Merchandise inventory is stated at cost by the LIFO method.
The product warrant payable is a current liability.
Vacation pay payable:
Current liability $7,140
Long-term liability 3,360
The unfunded pension liability is a long-term liability.
Notes Payable:
Current liability $70,000
Long-term liability 630,000
Kornett Company
POST-CLOSING TRIAL BALANCE
December 31, 2016
Petty cash 4,500
Cash 243,960
Notes Receivable 100,000
Accounts Receivable 470,000
Allowance for Doubtful Accounts 16,000
Merchandise Inventory 320,000
Interest Receivable 1,875
Prepaid Insurance 45,640
Office Supplies 13,400
Land 654,925
Buildings 900,000
Accumulated Depreciation-Buildings 36,000
Office Equipment 246,000
Accumulated Depreciation- 44,000
Office Equipment
Store Equipment 112,000
Accumulated Depreciation-Store 5,000
Equipment
Mineral Rights 546,000
Accumulated Depletion 30,000
Patents 42,000
Social Security Tax payable 25,470
Medicare Tax payable 4,710
Employees federal Income Tax payable 40,000
State Unemployment Tax Payable 270
Federal Unemployment Tax payable 40
Salaries Payable 157,000
Accounts Payable 131,600
Interest Payable 28,000
Product Warrenty Payable 76,000
Vacation Pay Payable 10,500
Unfunded Pension Liability 50,700
Notes Payable 700,000
J. Kornett, Capital 2,345,010
3,700,300 3,700,300

Vendors provide restaurants with what? o a. cooked items ob. raw materials oc. furniture od. menu recipes

The starr theater, owned by meg vargo, will begin operations in march. the starr will be unique in that it will show only triple features of sequential theme movies. as of march 1, the ledger of starr showed: cash $3,150, land $22,000, buildings (concession stand, projection room, ticket booth, and screen) $10,000, equipment $10,000, accounts payable $7,300, and owner’s capital $37,850. during the month of march, the following events and transactions occurred.mar. 2 rented the three indiana jones movies to be shown for the first 3 weeks of march. the film rental was $3,600; $1,600 was paid in cash and $2,000 will be paid on march 10.3 ordered the lord of the rings movies to be shown the last 10 days of march. it will cost $200 per night.9 received $4,500 cash from admissions.10 paid balance due on indiana jones movies rental and $2,200 on march 1 accounts payable.11 starr theater contracted with adam ladd to operate the concession stand. ladd is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand.12 paid advertising expenses $900.20 received $5,100 cash from customers for admissions.20 received the lord of the rings movies and paid the rental fee of $2,000.31 paid salaries of $2,900.31 received statement from adam ladd showing gross receipts from concessions of $6,000 and the balance due to starr theater of $900 ($6,000 × 15%) for march. ladd paid one-half the balance due and will remit the remainder on april 5.31 received $9,200 cash from customers for admissions.1.) enter the beginning balances in the ledger.2.) journalize the march transactions. starr records admission revenue as service revenue, rental of the concession stand as rent revenue, and film rental expense as rent expense. (credit account titles are automatically indented when the amount is entered. do not indent manually. record journal entries in the order presented in the problem. if no entry is required, select "no entry" for the account titles and enter 0 for the amounts.)3.) post the march journal entries to the ledger. (post entries in the order of journal entries presented in the previous question.)

S. you are changing planes in london for a flight to paris where you will connect with your flight to capetown. you are picking up reading material for the flight and are looking at the prices listed on the economist magazine which conveniently lists prices in several different global currencies. you note that the price in pounds is 2.40 pounds and the price in euros is 2 euros. the exchange rate for the dollar (your credit card was issued in the usa) is $1.59/pound and s1.3837/euro. should you buy reading materials now or wait until you're in paris?