Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars. Account Titles. Cash Accounts receivable Prepaid insurance. Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock (5,000 shares) Additional paid-in capital Retained earnings Revenues (not detailed) Expenses (not detailed) Totals UNADJUSTED Debit 30 27 22 89 21 37 226 Other data not yet recorded at December 31 include a. Insurance expired during the current year, $13. b. Wages payable, $16. c. Depreciation expense for the current year, $18. d. Income tax expense, $6. Credit 23 5 69 129 226 Required: 1. Using the adjusted balances, prepare an income statement for the current year. 2. Using the adjusted balances, prepare statement of stockholders' equity for the current year. The balance in retained earnings represents dividends that were declared and paid in the current year.

T/F Person A works for Global Payments Inc. They will take a portion of their pay check to buy Global Payments Stock every pay period. This is an example of Gain sharing.

Review the scripture below.  Does God's word here have relevance to the concepts being studied in Managerial Accounting, or do spiritual and business concepts just not mix?  Please share your ideas and give examples.  Feel free to cite other sources. Luke 14:28-30 in the Bible reads:  “But don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it? Otherwise, you might complete only the foundation before running out of money, and then everyone would laugh at you. They would say, ‘There’s the person who started that building and couldn’t afford to finish it!’" Explain the meaning of (a) differential revenue, (b) differential cost, and (c) differential income. A company is offered incremental business at a special price that exceeds the variable cost. What other issues must the company consider in deciding whether to accept the business? Although the cost-plus approach to product…

Discuss at least 2 ways that you can help protect our environment while generating profit for the company.