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On May 1, Lincoln lends Donaldson $250,000 and receives from Donaldson his agreement to pay this amount in two years. Lincoln takes a security interest in the machinery and equipment in Donaldson's factory. A proper finance statement is filed with respect to the security agreement. On August 1, at Lincoln's request, Donaldson executes an addendum to the security agreement giving Lincoln an interest in after-acquired machinery and equipment in Donaldson's factory. A second financing statement covering the addendum is filed. In September. Donaldson acquires $50,000 worth of new equipment from Thompson, which Donaldson installs in his factory. In December, Carter, a judgment creditor of Donaldson, causes an attachment to issue against the new equipment. What are the rights of Lincoln, Donaldson, Carter, and Thompson?
the management of freshwater corporation is considering dropping product c11b. data from the companys accounting system
Explain why it is important for the independent auditor to be a member of a professional body - illustrating the audit trail of stock purchases.
When an NFPO spends temporarily restricted resources on the project for which a donor made the contribution, the expenses are reported in the temporarily restricted column of the statement of activities.
At Frank Company, there are 800 units of ending work in process that are 100% complete as to materials and 40% complete as to conversion costs. If the unit cost of materials is $4 and the costs assigned to the 800 units is $6,000, what is the per-..
For which of the following sets of funds is the modified accrual basis of accounting used for reporting in the fund financial statements?
the massoud consulting group reported net income of 1386000 for its fiscal year ended december 31 2013. in addition
The business has been offered $5 per finished gallon to process two batches of Product A futher into Product B. Product B will require additional processing costs of $7,800 per batch, and 10% of the gallons of Product A will evaporate during proce..
If I were to make muffins and the blueberries for the muffins cost 2.05 per bag and I use 11 blueberries per muffin but then found out that people liked 15 berries per muffin and I found a store that sold 400 berries per bag at 1.89 per bag. How d..
reliable enterprises sells distressed merchandise on extended credit terms. collections on these sales are not
1. daytona corporation a manufacturing corporation aquires the following business assets in the current year furniture
On January 1,2010, Peach Company issued 1,500 of its $20 par value common shares with a fair value of $60 per share in exchange for the 2,000 outstanding common shares of Swartz Company in a purchase transaction. Registration costs amounted to $1,..
(a) Who are the stakeholders in this situation? (b) What are the ethical issues? (c) What would you do as the chief financial officer?
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