The consulting firm of Martin and Associates uses the accounts listed below. R the n ecord the opening balances as of December 1, 2019 on ormal balance side of the following T-Accounts. List of accounts with their opening balances: Cash Accounts Receivable 9,400 Rent Expense office Equipment Accounts Payable Joan Martin, Capital 16,700 Joan Martin, Draving $ 6,400 Fees Income 8,900 Utilities Expense -0- 8,000 Salaries Expense 0- The firm has the following transactions during the month of December 2019. Record the effects of these transactions in the T accounts a. Paid $2,400 for one month's rent.
b. Collected $6,200 in cash from credit customers.
c. Performed services for $8,400 in cash
d. Paid $5,400 for salaries
e. Issued a check for $4,400 to a creditor.
f. Performed services for $11,400 on credit.
g. Purchased office equipment for $2,400 on credit.
h. The owner withdrew $4,400 in cash for personal expenses
i. Issued a check for $740 to pay the monthly utility bill.
1. Post the above transactions into the appropriate T accounts.
2. Using the information shown, prepare a trial balance for Martin and Associates at December 31, 2019.

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 $ .

Pennewell publishing inc. (pp) is a zero growth company. it currently has zero debt and its earnings before interest and taxes (ebit) are $80,000. pp's current cost of equity is 10%, and its tax rate is 40%. the firm has 10,000 shares of common stock outstanding selling at a price per share of $48.00. refer to the data for pennewell publishing inc. (pp). pp is considering changing its capital structure to one with 30% debt and 70% equity, based on market values. the debt would have an interest rate of 8%. the new funds would be used to repurchase stock. it is estimated that the increase in risk resulting from the added leverage would cause the required rate of return on equity to rise to 12%. if this plan were carried out, what would be pp's new value of operations? a. $484,359 b. $521,173 c. $584,653 d. $560,748 e. $487,805

Suppose that a firm is considering moving from a batch process to an assembly-line process to better meet evolving market needs. what concerns might the following functions have about this proposed process change: marketing, finance, human resources, accounting, and information systems?