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Question - Merle Ltd issued a prospectus on 1 June 2021 inviting applications for 5,000 debentures of face amount $1,000, payable in full on application. Terms were 10% p.a. interest, payable annually, with a maturity date of 30 June 2024. Exactly the right amount of applications was received by 30 June 2021. Prepare journal entries to record the issue of debentures.
The company has provided a 2- year limited warranty for all sales. How will the warranty liability be reported on the balance sheet on Dec 31, 2020
Grogle Company had to calculate book value on its die cutting machine. The company paid $32,000 for the equipment on January 1, 2012, but its current appraised value is $46,000. On December 31, 2015, accumulated depreciation on the machine is $12,000..
Abbey Co. issued a credit memo for $2,500 for merchandise returned that originally cost $1,800. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co.?
Which is true about subjective performance evaluation? Limited by objective measures, Ignores relevant information, Backward looking
What rate of return is Joe using and what method did he use? What rate of return is the franchiser using and what method did Heaven Pizza use to calculate it?
Determine Which of the types of pension income does NOT qualify for the ITA 118(3) pension income tax credit? Old Age Security payments.
he paid the balance by a loan from his hometown bank. The loan is to be paid on a monthly basis for 2 years charging 12 % interest. Find how much are the monthly payments?
A company currently pays a dividend of $3.5 per share (D0 = $3.5). It is estimated that the company's dividend will grow at a rate of 17% per year for the next 2 years, then at a constant rate of 5% thereafter. The company's stock has a beta of 0.8, ..
Use the following information to determine the economic order quantity for Albert Company.
Prepare the income tax expense section of the income statement for 2021, beginning with the line "Income before income tax."
How much money do you need to invest today in order to be able to pay for the 4 years of college when your niece turns 18 years old
Pari International purchases a machine for $80,000. The machine is used 80% in production. Total estimated units of production over the life of the machine are 50,000 units. In Year 2, the machine produces 15,200 items. What is the journal entry to r..
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