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On September 1 2010 Herman Co. issued a note payable to National Bank in the amount of 1,200,000 bearing interst at 12% and payable in three equal annual principal payments of $400,000. On this date the banks prime rate was 11%. The first payment for interst and principle was made on September 1 2011. At december 31 2001, Herman should record accured insterst payable.
Explain the accounting alternatives that Bonanza Trading Stamps, Inc. should consider for the recognition of its revenues and related expenses.
What accounting and other information could you look at to assist management in computing possible damages?
The charter of a corporation provides for the issuance of 109000 shares of common stock. Assume that 59000 shares were originally issued and 4700 were subsequently reacquired. What is the number of shares outstanding?
A company has taxable income of $1,760 with a tax rate of 38 percent. Owners equity is: $400 in stock, $200 in capital surplus, and $200 in retained earnings. What is the return on equity (ROE)?
What is the amount of the joint costs allocable to A before the changes are made to the existing production process assuming the company allocates its joint costs according to the proportion of units produced?
The direct labor hours are 11,000 and the direct labor rate is $10.50. Budgeted direct-labor costs for June would be:
Timmer Bachman founded the Bachman Corporation over 25 years ago. The company's genesis was the unique climbing apparatus developed by Timmer, an avid mountaineer.
If the president is right, what will be the effect on the company's monthly net operating income or loss? Using the incremental approach in perparing the answer?
The Audit Report and Internal Control Evaluation. This paper should be posted as a Microsoft Word attachment in the Assignment Section and should adhere to APA formatting style.
The accounting principle that requires important noncash financing and investing activities be reported on the statement of cash flows or in a footnote is the:
The usual impetus for transactions that create a long-term debtor-creditor relationship between members of a consolidated group is due to the:
Prepare a paragraph of explanation/interpretation of the data as if this were a small part of a lengthy report to potential investors.
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