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1. Vacation pay and sick leaves are examples of contingent liabilities that a company generally should recognize on its financial assets.
a) true
b) false
2. Rush Corporation borrowed $50,000 on Jan 1, 2014. The loan is for a five year period and has an annual interest rate of 8%. At the end of each year. Rush will make a payment of $12,522.82 , which includes both principal and interest. The amount of the payment for 2012 that is the reduction and principal $8502.82
The bonds mature in three years. The annual market rate at the date of issuance is 12%, and bonds are sold for $231,570.
Below is a payroll sheet for Mahogany Company for the month of July. The company is allowed a 1% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000. Complete the payroll sheet and..
During 2014, Welch Manufacturing Company incurred $51,600,000 of research and development (R&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R&D cost was recognized as an expense in 2014. Dete..
Prepare the statement of cash flows under both the direct method and the indirect method for the year ended December 31, 19X2.
prepare a 3-year schedule of interest bond and revenue discount amortization applying the straight-line method ?here is
would you buy stock in this company? are there questions you would want answered before answering the original
some managers prefer absorption-cost pricing also others prefer variable-cost pricing, the department provides information under both approaches using a markup of 45% on absorption cost and a markup of 68.51% on variable cost.
The market price of Howell's common stock was $35 on August 1, 2010, and $38 on September 15, 2010. What is the amount of the debit to retained earnings as a result of the declaration and distribution of this stock dividend?
Discuss how you would respond or comment to the Exposure Draft that you researched and discuss whether or not you believe that Exposure Drafts add value to the accounting pronouncement development process.
Organize journal entries to reflex how the transaction and events would be recorded for governmental fund statements and government-wide statements.
Nielson motors has a share price of $50. its dividend was $2.50 and you expect Nielson Motors to raise its dividend by approximately 6% per year in perpetuity.
In some cases , the motivation for the borrowing and repurchase of shares was the desire of executives to secure their year –end cash bonuses. Did these executives act ethically?
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