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Question: Cool Globe Inc. entered into two transactions, as follows: 1. Purchased equipment paying $20,000 down and signed a non interest-bearing note requiring the balance to be paid in four annual installments of $20,000 on the anniversary date of the contract. Based on Cool Globe's 12% borrowing rate for such transactions, the implicit interest cost is $19,253. 2. Purchased a tract of land in exchange for $10,000 cash down payment and a non interest-bearing note requiring five $10,000 annual payments, with the first annual payment in one year. The fair value of the land is $46,000.
Required: Prepare the journal entries for these transactions.
Case: The petty cash custodian (1) brought postage receipts from home and paid them from the fund, (2) persuaded the supervisor to sign blank authorization.
Considering that new revenue recognition standard takes effect for reporting periods after December 15, 2017, discuss whether this will make auditing revenue
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julio purchased a stock one year ago for 27. the stock is now worth 32 and the total return to julio for owning the
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nbspfor years daytona parts company has used an actual plantwide overhead rate and based its prices on cost plus a
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