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Question - Micro soft adjusts its accounts monthly and closes its account on year end December 31, 2020. On October 31, 2020, Microsoft signed a note payable and borrowed $150,000 from a bank at an annual interest rate of 6 percent.
1. How much is the total interest expense over the life of note?
2. How much is the monthly interest expense?
3. Which amount of interest expense is shown in an adjusting entry? Which amount of interest expense is shown in closing entry?
Determine the amount of net income for the year was? The total assets and the total liabilities of a business at the beginning and at the end of the year
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A payment of $50,000 including both principal and interest will be made on December 31, 20X9. Prepare a cost of goods manufactured schedule
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The current market rate of interest on the Bright Sun bonds is 11.62 percent. What is the current market price (intrinsic value) of the bonds
If you were the new auditor for locatePlus Holdings, what question would you have asked the predecessor auditor? and would you have kept Locateplus
What would be the standard deviation your friend would face for their overall portfolio? Currently your friend has $62,368,000 invested in the ABC fund
You should expect the practice to be able to complete one physical exam every 20 minutes. Calculate the number of Tuesdays and Thursdays
Provide an example of short-term finance, long-term finance and equity finance and briefly explain how GFC could use these to fund the organisations
Which a company cannot frequently change the cost flow assumption adopted in order to measure the highest income possible because of the
During this time period, the dollar falls 14 percent against the euro. What is the annual interest rate on the loan for one year
1. In an audit report, what two opinions are expressed by the auditor?
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