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Question: Use the information in Exercise to prepare the journal entries for Randa to record the loan on January 1, 2011, and the four payments from December 31, 2011, through December 31, 2014.
Exercise: On January 1, 2011, Randa borrows $25,000 cash by signing a four-year, 7% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2011 through 2014.
1. Compute the amount of each of the four equal total payments.
2. Prepare an amortization table for this installment note like the one in Exhibit.
a corporation reported net income of 3730000 and paid preferred cash dividends of 100000 durning the current year.there
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If the stock paid a dividend of $.50 per share, what is the simple interest rate on an investment in this stock?
Enter the trial balance on a ten-column work sheet and complete the work sheet. Add accounts as needed.
during the year the hotel expects to rent 30000 rooms. rooms rent for an average of 90 per night. the hotel expects to
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Last year Attic charged $3,496,000 Depreciation on the Income Statement . If early this year Attic sold all its depreicable assets for their book value, the effect on financial statements would be (all other items remaining equal):
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A reference book lists the following maximum life spans (in years) for animals in captivity: Source: The World Almanac and Book of Facts 2009, p. 329.
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Catherine Simpkins owns and operates Speedy Print Co. During February, Speedy Print Co. incurred the following costs in acquiring two printing presses.
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