Given the following list of accounts with normal balances, what are the trial balance totals of the debits and credits?

cash
$1,100
accounts receivable
800
capital
1,900
withdrawals
500
service fees
1,000
rent expense
500

a. $2,900 debit, $2,900 credit
b. $3,900 debit, $3,900 credit
c. $2,000 debit, $2,000 credit
d. $1,200 debit, $1,200 credit

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.

Which best describes what financial planning skills ultimately enable an individual to do? to prepare for the future to determine lifetime income to determine the cost of living to learn from the past

You are the owner of a local honda dealership. unlike other dealerships in the area, you take pride in your “no haggle” sales policy. last year, your dealership earned record profits of $1.5 million. however, according to the local chamber of commerce, your earnings were 10 percent less than either of your competitors. in your market, the price elasticity of demand for midsized honda automobiles is 4.5. in each of the last five years, your dealership has sold more midsized automobiles than any other honda dealership in the nation. this entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (msrp) in each year. taking this into account, your marginal cost of a midsized automobile is $11,000. what price should you charge for a midsized automobile if you expect to maintain your record sales?