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Question - On July 15, 2020, Lynn's Pins (a local bowling alley) borrows $150000 from the Bank of Horrible Lending, at 12% interest for 120 days Lynn's Pins has a July 31 year end. Prepare journal entries for the loan, year end, and loan repayment?
Dubois Company's sales revenue for 20xx was $120,000. Dubois's product sells for $5, What is Dubois Company breakeven point in sales dollars
a company reported sales of 100000 cost of goods sold of 60000 selling general and administrative expenses of 15000 and
They had paid $240000 for the stock two years ago. They resold it for $290000. What, if any, would the impact be on the current year net income
Mary purchased 100 shares of Sweet Pea Co. stock at a price of $48.35 six months ago. What is Mary effective annual rate
Identify the essential elements of a contingent liability. Explain how a contingent liability should be disclosed in the financial statements.
For each of the following employees, calculate both the Social Security tax and the Medicare tax for the weekly pay period described
The Hershey Foods Company manufactures chocolate confectionery products. The three largest raw materials are cocoa beans, sugar, and dehydrated milk. Show the accounts debited and credited for each of the following business events:
What interest rates do these CDs pay? How often is interest compounded? What is the early withdrawal penalty
Maureen, a calendar year individual taxpayer, files her 2018 return on November 4, 2020. What are Maureen's penalties for failure to file and to pay
Explain briefly the difference between those two methods of applying an accounting change. First give a definition of the two types of applications and then answering this question: If I were going to switch depreciation methods from straight line ..
If you're looking at these accounts and these accounts only, would you say PB&J Cafe Co. owes more money than it has, or vice versa? Why?
Prepare an income statement for the year using variable costing. Prepare an income statement or The year using absorption costng.
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