Essay #5                                            Marathon…

Essay #5                                            Marathon Key Company purchased a corporate jet (e.g. a G6 – “like a G6″…get it?) on 4/1/2020 for $3.1 million.  On 4/2/2021 Marathon experiences dire financial (cash flow) difficulties related to an unexpected unfavorable lawsuit verdict.  Marathon, on 4/2/21, agrees to return the jet to the seller.  The jet has a fair value of $1.9 million on 4/2/21. The jet has a net book value on Marathon’s records at $1.9 million (original cost $3.1 million with accumulated depreciation of $1.2 million) The seller agrees to forgive (i.e. cancel the installment note with no additional payments required) the loan.  On 4/1/2021 Marathon’s accounting records reveal a loan value of $2,303,965.  Record the entries for Marathon (ONLY) that would be required at 4/2/21 for the settlement of the debt.                                                                  

A 40-year-old man presents with a hacking, rasping cough tha…

A 40-year-old man presents with a hacking, rasping cough that produces thick mucoid sputum. The patient reports experiencing fatigue and dyspnea. On physical examination, the nurse practitioner notes resonant percussion sounds and normal tactile fremitus.. What condition is the patient most likely to have?