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'Each student should include the journal entries and t-accounts, for both unadjusted and adjusting entries, and for BOTH PARTIES to the transaction, to present the accounting flow of information for: (1) Creation, on January 1, 2016, of a $10,000,000 loan at 12 percent simple interest per annum; (2) each of the monthly journal entries; and (3) the entries for closure and payment in cash of the loan on December 31, 2016.'
a manufacturing has prepared the following income statementsales 450000cogs 200000gross margin 250000operating expenses
On January 1, 2014, Deng Company purchased an asset for $100,000. For financial accounting purposes, the asset will be depreciated on a straight-line basis over five years with no residual value at the end of that time. For tax purposes, the asset..
Admire County Bank agrees to lend Givens Brick Company $300,000 on January 1. Givens Brick Company signs a $300,000, 8%, 9-month note. What entry will Givens Brick Company make to pay off the note and interest at maturity assuming that interest ha..
Why might the amount to be contributed by a new partner for admission to the firm exceed the amount determined in (b)?
On October 8, Longhini returns defective goods with a selling price of $640 and a scrap value of $240. Record the transactions of Longhini Company, assuming a perpetual approach.
the comparative balance sheet of charles inc. for december 31 2014 and 2013 is shown as followsdec. 31 2014dec. 31
Daisey Company is a very profitable small business. This memorandum has not been recorded by Daisey. What principles of internal control were violated in case
Prepare the entry to record the accrued interest and the amortization of premium on December 31, 2014, using the straight-line method
A physical inventory on March 31, 2017, shows 1,856 units on hand. Prepare schedule to compute the ending inventory at March 31, 2017
What should the accounting treatment for the loan guarantee be on Wearever's financial statements and why?
What is the purpose of a classified statement of net position?
diamond-125 per mo. 75 discount for first three months platinum 100 per mo. 50 disocunt first three mo gold 90 a mo
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