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On January 1, 2021, Thurman Co. borrowed 10%, 3,000,000, five-year loan from National Bank. Interests are payable annually starting December 31, 2021. National charges 5% non-refundable loan origination fee representing service fee. Required:
Problem 1: Determine the following (PV factor round off to 4 decimal places & show the amortization table)
a. Carrying amount of the loan payable on January 1, 2021.b. Carrying amount of the loan payable on December 31, 2021.c. Total interest expense for the year ended December 31, 2021.
variable expenses total $50; 5,000 units can satisfy fixed and budgeted sales in units is 9,600. How many units must be sold to achieve target income of $80,000
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Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $491,000 cost with an expected four-year life and a $15,000 salvage value. Compute straight-line depreciation for ea..
Miranda Jones owned a parcel of investment real estate that had an adjusted basis of $25,000. What is Jones' recognized gain and basis in her new investment
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A company’s inventory records report the following: On August 15, it sold 30 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?
Calculate the balance in the Investment in AA Company account at December 31, 2021.
Messman Manufacturing will issue common stock, If the flotation cost is 10% of the issue's gross proceeds, what is the cost of external equity?
If fixed costs are $561,000 and the unit contribution margin is $8.00, illustrate what is the break-even point in units if variable costs are decreased by $.50 a unit?
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