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Question: Assume DKY Company has opened and maintained current account (Checking account) On Awash International Bank S.C. The company has borrowed a Loan amount of Birr 2,000,000,000 that will be paid in lump sum after one year at interest rate of 12% per annual.
Task 1: Calculate total amount of cash Collected by Awash International Bank after a year?
Task 2: Calculate Income tax payable by Awash Bank to ERCA on interest Income earned?
Task 3: Discuss the importance of setting financial goals & developing a saving plan?
Brandywine Homecare, a not-for-profit business, had revenues of $12 million in 2007. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was $1.5 million.
2)On January 1, 2015, Parsons Company purchased $84,000, 10 year, 7% government bonds at 100. The semi-annual interest payment dates are June 30 and December 31.
Gordon Chemicals Company acquires a delivery truck at a cost of $25,200 on January 1, 2017. Compute annual depreciation for the first and second years
This year, the Tastee Partnership reported income before guaranteed payments of $92,000. What is the amount of guaranteed payments
Issued 20,000 shares at $30 per share; received cash. Make the journal entries necessary for Habenero Company to record each transaction
Which costing system would be most appropriate for ZZZ Socks Ltd: Job costing or Process costing. Provide a reason for your choice of costing system
Ari is painting blocks of wood for a project. Each block is 8 cm long, 4 cm wide, and 5 cm high. What is the surface area of each block?
An apartment house was purchased on July 8 of last year, by a taxpayer who computes her taxes on a calendar basis. Her depreciation deduction last year was $7,902.
Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automatically indented when amount is entered
Best Bank also charges an interest rate of 16% but at exact interest. What would be the maturity value at First Credit
John Brownstone works for Secretariat, Inc. What are the strengths and weaknesses of Johnson's approach to recording depreciation
The machinery was sold on May 1, 20X5 at a gain of $18,000. How much cash did Raymond receive from the sale of the machinery
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