A partially completed work sheet is shown below. The unadjusted trial balance columns are complete. Complete the adjustments, adjusted trial balance, income statement, and balance sheet and statement of owner's equity columns. 
What will be an ideal response?
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An employee from Hamid's Automobile Inc. called up Horner's home to repair the latter's car. It was repaired in Horner's garage. When Horner defaulted on the bill, Hamid's employee went to his house to take possession of the car, claiming that the corporation had a lien on the car by virtue of the work performed on it. According to this scenario, which of the following statements is true?
A. The corporation has no lien on the car because the employee did not notify Horner at the time of the repairs that a lien would be claimed. B. The employee is entitled to the possession of the car because he was the one who performed the repairs on the car. C. Hamid's employee is justified in his actions as the corporation did have a lien on the car by virtue of the work performed on it by its employee. D. The corporation has no lien on the car, because its employee came to Horner's house to make the repairs and so Horner never gave up possession of his car to Hamid's.
Using the City Bicycle example, suppose the cycling store uses the FIFO cost-flow assumption. The cost of goods sold is _____, and the ending inventory is _____
a. $2,900; $5,500 b. $2,500; $5,900 c. $3,000; $5,400 d. $2,800; $5,600 e. cannot be determined with the information given
Kirksand Hotels is renowned for its service and individual treatment of its customers. All service staff and employees are encouraged to listen carefully to customers' wants and needs
For instance, if a traveler ordered soft pillows, wanted only martinis in his mini bar, and needed access to a fax machine, he would find all of these amenities in his room when he arrived. In this scenario, on which of the following trends has Kirksand Hotels based its customer relationship management (CRM)? a. Personalization b. Time savings c. Loyalty d. Technology
Interest earned on the cash component of a life insurance policy is not taxes at the time it is credited to the cash component
Indicate whether the statement is true or false.