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In China, there is a declaration of an emergency due to COVID-19 on May 1st. Its a virus and its killing many and the govenrment has shutdown all businesses. Its spread to Europe and South America and some goverments have shutdown many businesses at this early stage. It is inevitable that the COVID-19 will come to Ontario. Its estimated that most businesses that have already shutdown may be shutdown from 6 to 12 months. Keep this in mind as the business owner and in your analysis.
The bank is expecting a payment on the loan, but has given you some options. You decide what's best for the business:
a) Made payment of $15,000 towards reducing the loan payable. This is as scheduled in the agreement.
b) Made payment of $30,000 towards reducing the loan payable. This would lessen the time outstanding for your loan so its paid off quicker, meaning less total interest.
Question 1: Make no payment and your interest will double for all remaining amounts outstanding
Explore what types of accounting certification exist. In particular research the Certified Public Accountant (CPA) and Certified Management Accountant
7000 cash in the exchange. The exchange lacks commercial substance. What is the amount of gain belmont should recognize on this exchange?
Delivery and commission expenses vary proportionally with budgeted sales in dollars. Advertising and office expenses are fixed. Miscellaneous expenses include $10,000 of fixed costs. The rest varies with budgeted sales in dollars. The Year 2 budgeted..
Discuss the Risk description, Estimated impact (low med high) based on materiality, Estimated likelihood (low med high). You should have multiple risks.
What is the amount of each of the equal annual payments that will be paid on the note? (Round your answer to nearest whole dollar.)
Explain the meaning of each ratio. (What information does it provide?) Do companies want the ratio to be a higher or a lower figure? Why? Which stakeholder(s) will be more interested in the ratios? Why?
Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company as follows. Consolidated Statements of Income Years ended December 31$ millions 2010 2009 2008. Compute net operating profit after tax for 2010. Assume ..
Williams Inc. produces fluorescent lightbulbs for commercial use. The accounting manager is attempting to estimate the total cost for the next quarter using the high-low method. He has compiled data and found the high and low costs are $65,000 and $3..
Is it true that most firms are able to obtain some free trade credit and that additional trade credit is often available, but at a cost? Explain.
Manufacturing overhead of $125,000 for 11,000 lounge chairs produced what would the spending (flexible budget) variance be for the total manufacturing overhead?
You are a newly appointed consultant in XYZ Financial Consultant Company - You provide financial consultancy to multiple different companies.
During 2013, Durham Manufacturing expected Job No. 51 to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Durham applied overhead based on direct labor cost. Actual production required an overhead cost of $290,000, $550,000 in..
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