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Prepare journal entries for Marcey Co. for:
(a) Accounts receivable in the amount of $1,000,000 were assigned to Utley Finance Co. by Mars as security for a loan of $850,000. Utley charged a 3% commission on the accounts; the interest rate on the note is 12%.
(b) During the first month, Mars collected $400,000 on assigned accounts after deducting $900 of discounts. Mars wrote off a $1,060 assigned account.
(c) Mars paid to Utley the amount collected plus one month's interest on the note.
The information is available for the first month of operations of Enders Company, a manufacturer of mechanical pencils - Determine the missing amounts - Cost of goods sold
A machine costs $500,000 and is expected to yield an after-tax net income of $15,000 each year. Management predicts this machine has a 10-year service life and a $100,000 salvage value, and it uses straight-line depreciation. Calculate this machin..
develop a corporation chart of accounts taking into consideration the followingmiddotcapital structure debt and or
Evaluate, measure, value and present financial statements in conformity with GAAP relating to assets and assess financial accounting standards as they relate to presentation and disclosure in general purpose financial statements
Prepare a statement of cash flows for 2011 .Use the direct method for reporting operating activities, refer to the above situation.
what proportion of the population would score higher than Bob and what proportion of commutes would be longer than 80 minutes and less than 50 minutes?
Prepare the Journal Entries in the General Journal, post Journal Entries to the General Ledge, prepare a Trial Balance
What level of sales dollars is needed for a monthly profit of $59,340? For the month of July, the marina anticipates sales of $1,010,000. What is the expected level of profit?
Deductible executor's fee. Net IRD and the IRD reported on the return for the period ended June 30, 2011.
Lara's employer has a 40 percent marginal tax rate. Ignoring payroll taxes, illustrate what is the maximum amount of before-tax salary Lara would give up to receive health insurance?
On the basis of this information estimate the current value of the Company bonds, the Preference shares, and the Ordinary shares.
1,500 Memberships were sold to the public in the amount of $40 each. Membership provides the individual with a monthly magazine and other benefits. The estimated fair value of member benefits is $25. The member year runs from July 1 to June 30.
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