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Question: McKenzie Wood Products negotiated a $200,000 revolving line of credit with the Bank of Montreal at prime plus 2%. On the twentieth of each month, interest is calculated (up to but not including the twentieth) and deducted from the company's chequing account. If the initial loan advance of $20,000 on July 3 was followed by a further advance of $40,000 on July 29, how much interest was charged on July 20 and August 20? The prime rate was at 4% on July 3 and fell to 2.75% on August 5. (Round your answer to two decimal places.)
The amounts of interest charged on July 20 and August 20 were $ and $ respectively.
before prorating the manufacturing overhead costs at the end of 2008 the cost of goods sold and finished goods
the following data are taken from the financial statements of tall tail company.2007 2006accounts
Fixed costs are $60,000 a month. How much would sales have to decrease to break even
Determine: (a) the quantity variance, price variance, and total direct materials cost variance; (b) the time variance, rate variance
Golden Bear Construction Co. operates throughout California. The owner, Gaylan Beavers, employs 15 work crews. Construction supervisors report directly to Beavers, and the supervisors are trusted employees. The home office staff consists of an acc..
Cumulative decrease in income from change in inventory method before tax 700,000. What is the balance of retained earnings on January 1, 2017
What are some of the major policy options for responding to white collar crime generally? Which overall strategy, if any, is most likely to succeed, and why?
The Share Capital is represented by 2,000,000 shares which are fully paid. Complete general journal entry of DenPrac Ltd to record the rights issue of shares
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north slope realty co. pays weekly salaries of $7900 on Friday for a five day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends on (a) Wednesday, (b) on Thursday
On the most recent trading day, the preferred shares sold at $50 and the common shares sold at $95. What is this company's current price-earnings ratio
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