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Question - Mel's Photography borrowed $15 000 on March 10 on a demand note. The loan was repaid by payments of $4000 on June 20, $3000 on September 1, and the balance on November 15. Interest, calculated on the daily balance and charged to Mel's Photography current account on the last day of each month, was at 5.5% on March 10 but was charged to 6.25% effective June 1 and to 6% effective October 1. How much did the loan cost?
Perform a horizontal and vertical analysis of the Balance Sheet and the Income Statement for Jim's Auto Body and Angel's Auto Body, a similar company.
Salary of Vice-President who spends ¼ of his time overseeing R and D activities 2,400,000. Calculate the R and D expense for the current period
the december 2013 sales were 180000. the companys budgeted unit sales are as
How many units must Moore make and sell to break even? What will Moore's total revenue be at the break-even point?
anthony company uses a perpetual inventory system. it entered into the following purchases and sales transactions for
When a note's stated rate of interest is unrealistic relative to the market rate, the concept of substance over form should be employed. Explain.
Prepare journal entries relating to the stock-option plan for the years 2015, 2016, and 2017. Assume that employee performs services equally in 2015 and 2016
(a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period.
grand haven is a senior living community that offers a full range of services including independent living assisted
howie long has just learned he has won a 500000 prize in the lottery. the lottery has given him two options for
To evaluate its financial stability, TRI was requested to provide its latest financial statements and selected financial ratios. Summary information provided
A sales invoice included the following information: merchandise price, $65,700; what is the amount of cash that buyer pays the seller
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