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On December 25, 2019, Akita International Corporation paid employee salary, $4,000. At the year end, the AIC recognized unpaid salary $1,200 for 6 days (December 26-31, 2019) as accrued.
Problem 1: Journalize an adjusting entry (entries) necessary at the date of the year end.
Problem 2: Journalize the transaction to be expected on the next salary payment date (January25, 2020). Assume that the same amount of salary will be paid.
What is the effective annual rate, or EAR (annual percentage yield), of this loan? Round the answer to two decimal places in percentage form.
Find and Perform the final NPV calculations and provide a narrative on how you calculated the computations and why (justification of answer).
1. what exact labor and overhead costs would be incurred both before and after split off point? again be precise here
The XYZ Company needs to acquire a molding machine to be used in its manufacturing process. Two types of machines that would be appropriate are presently on the market. Determine which machine XYZ should purchase. Assume an interest rate of 8% proper..
Grouper Cosmetics Co. purchased machinery on December 31, 2016, paying $47,300 down and agreeing to pay the balance in four equal installments of $46,400 payable each December 31. An assumed interest of 8% is implicit in the purchase price. Prepare t..
Suggest why net income increased from $92,500 to $414,900 while the cost of goods sold percentage increased each year and selling and administrative expenses remained nearly constant.
What is the ratios for both adidas and nike companies for five years 2014 - 2017. Debt utilization ratios (except fixed charge coverage)
Carson Company purchased a depreciable asset for $280,000. The estimated salvage value is $14,000, and the estimated useful life is 10,000 hours. Carson used the asset for 1,500 hours in the current year. The activity method will be used for deprecia..
Construct a spreadsheet to calculate the payback period, internal rate of return, modified internal rate of return, and net present value of the proposed
What are the required number and qualifications of incorporators? What are the required number and qualifications of members of the board of directors
Calculate the cost of inventory reported on the balance sheet. the total merchandise on hand at the end of the year as determined by taking a physical inventory is $62,000, $8,000 has been sold FOB destination and is awaiting pickup by the carrier.
Fifteen (15) years ago, your parents purchased an investment for $2,500. If the investment earned 6 percent interest each year, how much is it worth today?
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