The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit
Cash $12,000
Accounts receivable 159,000
Prepaid rent 7,000
Supplies 28,000
Equipment 350,000
Accumulated depreciation $128,000
Accounts payable 12,000
Salaries payable 3,100
Interest payable 1,400
Notes payable (due in two years) 31,000
Common stock 230,000
Retained earnings 140,500
Dividends 27,000
Service revenue 380,000
Salaries expense 180,000
Advertising expense 77,000
Rent expense 15,000
Depreciation expense 33,000
Interest expense 3,000
Utilities expense 35,000
Totals $ 926,000 $ 926,000
Prepare an income statement for China Tea Company for the year ended December 31, 2021:

Luis and rosa, citizens of costa rica, moved to the united states in year 1 where they both lived and worked. in year 3, they provided the total support for their four young children (all under the age of 10). two children lived with luis and rosa in the u.s., one child lived with his aunt in mexico, and one child lived with her grandmother in costa rica. none of the children earned any income. all of the children were citizens of costa rica. the child in mexico was a resident of mexico, and the child in costa rica was a resident of costa rica. how many total exemptions (personal exemptions plus exemptions for dependents) may luis and rosa claim on their year 3 joint income tax return? a. 6 b. 5 c. 4 d. 2

You are the manager in charge of global operations at bankglobal – a large commercial bank that operates in a number of countries around the world. you must decide whether or not to launch a new advertising campaign in the u.s. market. your accounting department has provided the accompanying statement, which summarizes the financial impact of the advertising campaign on u.s. operations. in addition, you recently received a call from a colleague in charge of foreign operations, and she indicated that her unit would lose $8 million if the u.s. advertising campaign were launched. your goal is to maximize bankglobal’s value. should you launch the new campaign? explain. pre-advertising campaign post-advertising campaign total revenues $18,610,900 $31,980,200 variable cost tv airtime 5,750,350 8,610,400 ad development labor 1,960,580 3,102,450 total variable costs 7,710,930 11,712,850 direct fixed cost depreciation – computer equipment 1,500,000 1,500,000 total direct fixed cost 1,500,000 1,500,000 indirect fixed cost managerial salaries 8,458,100 8,458,100 office supplies 2,003,500 2,003,500 total indirect fixed cost $10,461,600 $10,461,600

Which of the following is an example of an unsought good? a. cameron purchases a new bike. b. jordan buys paper towels. c. taylor buys cupcakes from her favorite bakery. d. riley buys new windshield wipers for her car.