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Make all of the necessary journal entries for the following independent transactions:
Question 1: The company pledged its $10,000 notes receivables to a bank and received a loan of $8,500. The note is not paid on the maturity. (Protest fee $6)
Question 2: The company discounted its notes receivables for $5,000 and collected $4,400. This note is paid on maturity.
Question 3: The company gave its $60,000 note receivable to a bank for collection. The note is not paid on maturity. Bank protested the note on behalf of the company and credited nottery public fee from company's account for $8.
On Jan 5, 2011, the company determined that the copyright would expire at the end of 2016. Explain how much should the co. record as amortization expense for copyright for 2011?
X Company exchanged a truck purchased for $120,000 with $20,000 in Accumulated Depreciation for a truck with a market value of $101,000.
Taxable income was $20,000; Johnny had $93,000 of pretax accounting income. The tax rate is 35%. Prepare the journal entry to record income taxes for 2018.
XYZ Company's comparative balance sheet and income statement for the most recent year are shown below: XYZ Company Comparative Balance Sheet As of December 31 Ending Beginning Assets Balance Balance Cash 1,400,000 1,000,000 Accounts Receivable 2,100,..
How to Make the journal entries to account for the events and transactions in relation to the motor vehicle between 1 July 2015 and 31 December 2018
What is the net cash received over the life of the bond investment? (all money received minus all money paid, round to nearest whole dollar)
On January 15, 2016, Bravo Company billed a customer for $30,000 of services rendered to be collected at a later date. Prepare the general journal entry (without explanation) needed. If no entry is required then write "No Entry Required."
Firm O purchased two items of business personality during the year. The first item cost $500,000 and has a five-year recovery period, and the second item also cost $500,000 and has a seven-year recovery period. Firm O wants to make the section 179 el..
The president of Solvent has asked the controller to prepare a report that summarises the financial aspects of the two potential investees for the last year and discuss and analyse the limitations of ratio analysis for both cross-sectional and time..
What is Differentiated Instruction-What can be Differentiated-What is a Layered Curriculum
Prepare all journal entries relating to held-for trading investments for 2014 and Briefly discuss why held-for-trading investments
According to the FASB conceptual framework, the objective of financial reporting for business enterprises is based on the needs of the users of financial statements. What is the level of sophistication that the Board assumes about the users of financ..
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