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Calvin and Hobbes are the new owners of Micro Computer Services. At the end of August 2010, their first month of ownership, Calvin and Hobbes are trying to prepare monthly financial statements. They have the following information for the month.
1. At August 31, Calvin and Hobbes owed employees $800 in salaries that the company will pay on September 1.2. On August 1, Calvin and Hobbes borrowed $30,000 from a local bank on a 15-year note.The annual interest rate is 10%.3. Service revenue unrecorded in August totaled $1,100. Prepare the adjusting entries needed at August 31, 2010.
Long term debt currently makes up 20% of the capital structure, preferred stock 10%, and common stock 70%. Illustrate what is the net present value of this project?
Prepare an amortization schedule that would be suitable for the lessee for the lease term - prepare the journal entries for the lessee for 2012 and 2013 to record the lease agreement
Prepare a selling expense report that compares budgeted and actual amounts by month and for the year to date.
Burger Queen Restaurant had the following information available related to its operations from last year : Sales (150,000 units) $500,000 Variable costs 200,000 Contribution margin $300,000 Fixed costs $150,000 If sales increased by 30% illustrat..
Also advise whether any defences are available to the directors and what penalties may be imposed upon them if they are found to have breached the insolvent trading provisions under the Corporations Act 2001.
Prepare a statement of cash flows for 2011 for Bluebonnet Bakers. Use the direct method for reporting operating activities.
At the end of its accounting period, December 31, 2007, Pima has assets of $617,000 and liabilities of $382,000. Using the accounting equation, determine the following amounts.
Cash Flow Computations - From the following selected data, evaluate the cash balance at the end of the year.
Perform horizontal financial analysis
question transfer pricing ethics goal congruence. jeremiah industries manufactures high-grade aluminum luggage made
Prepare the journal entries for Latest Fashions for the transactions listed, assuming that Latest Fashions uses a perpetual inventory system and prepare a mutli-step income statement
Hugely popular nowadays in restaurants and supermarkets, tiger prawns are mostly raised in man-made pools in Bangladesh and the Philippines.
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