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Problem - BTS Company accepted a P400,000 face value, six-month, 10% note dated May 15 from a customer. After holding the note for two months, BTS discounted the note without recourse at Big Hit Bank at a 12% discount rate and appropriately accounted the discounting as a sale. Accrued interest was appropriately recorded prior to discounting. Compute the gain or loss recognized by BTS on the sale of notes receivable?
On January 1, 2019, Whitmore Corp Issues $600,000 of 9% 15 year bonds that pay interest annually on December 31st each year. Bonds of similar risk and maturity.
incremental analysis of outsourcing decision selzer amp hollinger a legal services firm is considering outsourcing its
Osborn Company allocates interest and unamortized discount or premium on the effective interest basis. Prepare the journal entry at the date of bond issuance
The estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset
Rats were found running in your kitchen. Your restaurant was instantly closed. What part of the GEMS cycle you have failed to comply with?
Since indirect cost cannot be conveniently or economically traced directly to a cost pool or cost object, the management accountant will:
Compute the break-even point for the Extravaganza (in termsof the number of persons that must attend).
During the last 3 quarters of fiscal year 2012 Taint Incorporated provided $2,315,000. Prepare the necessary journal entry(s) to account for the transaction.
selected year-end financial statements of mccord corporation follow. all sales were on credit selected balance sheet
Compute the difference between the trial balance totals. Journalize as of May 31 the payment of $275 for gas and electricity
at the time of his death on july 9 2012 aden was involved in the following real estate. fair market value on july 9
on january 1 2013 sweetwater furniture company leased office space under a 21-year operating lease agreement. the
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