Poverty in the USA Research Paper Example | Topics and Well Written Essays - 750 words - 1

Poverty in the USA - Research Paper Example For a person to get a satisfying job, he/she needs to have the quality education (Kotler, 12). Most students leave school due to diverse reasons such as early pregnancies or drugs; hence, cannot find a rewarding job. Monetary instability causes low quality or no education at all. Many youths desire to advance their education and acquire rewarding jobs. Unfortunately, their parents and guardians are unable to pay their fees; thus they have to abandon school to secure jobs and help their parents pay debts. Â  Therefore, they create a cycle that never ends, that is from uneducated parent to an uneducated child. American citizens’ faces poverty since they can not grant the manpower needed to ensure a boost in the country’s economy. Majority of the developing states globally lives in destitute scarcity. The wealthy states such as America are a source of refuge to the growing states. They are perceived as ‘lands of opportunities’. America is one such country, of ten referred to as the world’s superpower nation because of her stable economic. This makes it a niche for citizens of developing countries to scramble for employment possibility from its citizens and illegal immigrants. Since the immigrants can settle for any amount of money they are mostly offered jobs, unlike the Americans. The immigrants can work for the extra time, and do multiple jobs. For this reason, they further deny employment opportunities to the citizens who meanwhile, are fighting with the youths for menial jobs.

Preliminary Trial Balance of Wilma Wildcats Company Assignment - 1

Preliminary Trial Balance of Wilma Wildcats Company - Assignment Example The annual interest rate is 8%. 2. The Equipment was purchased prior to 2010. The company uses the straight-line method, assumed a $2,000 salvage value and an estimated useful life of 15 years. Record depreciation expense for 2010. 3. The company issued a $175,000 bond in a prior year at face value. The bond has a contract rate of 9% and pays interest annually on January 1st. Record the adjusting entry for the accrued interest expense on December 31st. 4. The company uses the allowance method to estimate its uncollectible accounts. The new Chief Financial Officer (CFO) decided to use the percent of receivables method and estimated that 10% of Accounts Receivables at December 31, 2010, will be uncollectible. Record the adjusting entry for bad debt expense for 2010. 6. Employees were last paid on December 24, 2010. Several employees worked through December 31st and wages due but not yet paid were $4,200. An adjusting entry needs to be recorded to reflect this liability. Use the space below for T-accounts (REQUIRED FOR GRADING). For each account in the journal entries, you will need to adjust the balance from the preliminary trial balance with the debit or credit from the journal entry. (only need to do T-accounts for those that change) Part 2: Using the trial balance below, complete the income statement and prepare the Statement of Retained Earnings and Classified Balance Sheet on the pages which follow.