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Question - On September 1, Nova Salon Company issued a 120-day note with a face amount of $68,400 to Osborne Hair Products Company for merchandise inventory. Assume a 360-day year.
a. Determine the proceeds of the note, assuming the note carries an interest rate of 6%.
b. Determine the proceeds of the note, assuming the note is discounted at 6%.
A business issued a 45-day, 4% note for $240,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. Refer to the Chart of Accounts for exact wording of account titles.
a. Journalize the entry to record the issuance of the note on January 1. Refer to the Chart of Accounts for exact wording of account titles.
On January 1, 2019, Knorr Corporation issued $1,000,000 of 9%, Prepare journal entries to record Amortization of bond issue
The following information is taken from December 31, 2015, adjusted Trial Balance, Prepared the 2015 Income statement for the company
In the 1st Feb 2020 kamau started a business with capital sh .30,000. On 3rd feb2020 purchased goods from otieno on credit sh.3000, on 4th Feb 2020 pay cash to.
the st. vincent manufacturing company produces a single product in a single processing department. the material is
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Pane Corp. manufactures and sells a nutrition drink for children. Compute the standard cost of the ingredients for one gallon of the nutrition drink
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The comparative consolidated income statements of a parent and its 75%-owned subsidiary. Prepare correct consolidated income statements for Years 5 and 6.
During 2019, Waterway Industries introduced a new line of machines that carry a three-year warranty against manufacturer's defects. Based on industry experience
If Wonderful has 29,000 shares of common stock outstanding throughout the year and its Net Income is $12,000 after paying the preferred dividends, what will be the dilutive EPS of Wonderful incorporation under treasury stock method? Round your ans..
preston concrete is a major supplier of concrete to residential and commercial builders in the pacific northwest. the
Wonderful had the following profits after tax: P2,400,000 in 2020 and P2,000,000 in 2019. What is the earnings per share in year 2019
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