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On January 1, 2013, a company borrowed $50,000 cash by signing a 7% installment note that is to be repaid with five annual end-of year payments, the first of which is due on December 31,2013.
(a) Prepare the company's gernal journal entry to record the note's issuance.
(b) Assume thatt the annual payments are o consist of accrued interest plus equal amounts of principal. Prepare the general journal entries to record the first and second installment payments.
capital budgeting caseyour company is thinking about acquiring another corporation. you have two choices-the cost of
at december 31 2012 rice company had 300000 shares of common stock and 10000 shares of 6 100 par value cumulative
Differences between the amount of cash reported on a company's bank statement and the balance in the company's Cash account before the bank reconciliation are primarily due to:
the manufacturing overhead budget at mahapatra corporation is based on budgeted direct labor hours. the direct labor
for the past several years kelly pitney has operated a part-time consulting business from her home. as of april 1 2006
Banks Billiard Company (BBC) issued $5 million in par value of bonds for $5.1 million. BBC incurred $200,000 in accounting fees and $50,000 in banking fees related to this transaction. What amounts should BBC record for the bonds upon issuance usi..
adam earns a salary of 7500 per month during the year. fica taxes are 8 on the first 100000 of gross earnings. federal
Determine the amount of interest to be capitalized in 2010 in relation to the construction of the building.
Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d ) LIFO. (Do not round interim calculations. Round per unit costs to three decimals. Round your answ..
Write a 750- to 1,050-word paper addressing the following: Define the following terms associated with the types of loans and equity available to a new business:
Toledo Corporation's common stock is selling for $50 per share on the New York Stock Exchange. Toledo Corporation's price-earnings ratio is:
A corporation sold land (with an adjusted basis of $240,000) for $200,000 to its majority shareholder. (a.) What is the company's recognized gain or loss on the sale? (b.) What is the shareholder's adjusted basis in the land?
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