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The long term debt is payable in annual installments of $40,000, with the next installment due on July 31. On that date, Seal-N-Ship will also pay one year's interest at 9%. Interest was last paid on July 31 of the preceding year. Make the adjusting entry to shift the current installment of the long-term note payable to a current liability. Also accrue interest expense at year end.
Gordon uses a minium desired rate of return of 12% for selecting new projets and for evaluating the three divisions using residual income (RI). The firm's weighted-average cost of capital is 8%.
Juanita, who is single, is in an automobile accident in 2012 and her car sustains $6,200 in damages. Because both drivers received tickets in the accident, Juanita does not expect to recover any of the loss from her insurance company.
When such an event occurs and is appropriately reflected in the financial statements, what are the auditor's alternatives with respect to dating the audit report and the conditions applicable to each alternative?
Dean signed an agreement to sell the plant for $350,000 January 1 year 10 and Lease it back for $15,000 per year, deans incremental borrowing rate is 6%. Present value factors for annuity
Compute the rate variance, the efficiency variance, and the total direct labor cost variance for each of these two months. (Input all amounts as a positive value.
Under what conditions is an accrual-basis-tax-payer allowed to defer reporting amounts received in the advance payments received for services?
The manufacturing overhead budget of Lewison Corporation is based on budgeted direct labor-hours. The June direct labor budget indicates that 5,800 direct labor-hours will be required in that month.
Prepare the appropriate journal entry to record compensation expense on December 31, 2011. Prepare the appropriate journal entry to record the lifting of restrictions on December 31,2011
Please include thorough explanation and thorough calculations for each answer chosen. The differential approach is often considered superior to the total project approach to capital budgeting:because it can more easily accommodate multiple investmen..
A farm brings 15 tons of watermelon to market. Find a 90% confidence interval for the population mean cash value of this crop. What is the margin of error?
Construct a bond amortization table for this problem to indicate the amount of interest expense and discount amortization at each May 31. Include only the first four years. Make sure all columns and rows are properly labeled.
What is the difference between a "Revenue Center" and a "Profit Center"? Discuss the Differences Between Responsibility Centers and Decentralization. What other reasons are there to indicate decentralization is a better way of doing business?
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