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An abbreviated cash budget for Big Chuck Enterprises follows. Big Chuck wishes to maintain a $10,000 minimum cash balance at all times. Additional financing is available (and retired) in $1,000 multiples at a 12% interest rate. Assume that borrowings take place at the beginning of the month; retirements, in contrast, occur at the end of the month. Interest is paid at the time of repaying principal and computed on the portion of principal repaid.
a.Find the unknowns in Big Chuck's abbreviated cash budget.
b.Determine the outstanding loan balance as of September 30, after any repayments have been made.
wilson corp. reported the following pretax financial income loss for the years 2011-2015. 2011 246600 2012 345000 2013
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Hartzler Enterprises issued 8%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2011, and are issued on that date. The discount rate of interest for such bonds on April 1, 20..
Prepare example journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables methods.
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Fontenot Corporation was organized in 2009 and began operations at the beginning of 2010. The company is involved in interior design consulting services. The following costs were incurred prior to the start of operations.
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In June, the Filbert Company established a petty cash account with a $200 balance. During June, the following expenditures were made from petty cash
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