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Question - Prepare reversing entries and subsequent cash entries for the following - On May 1, 2021 the company sold their equipment to a customer, and in exchange, the company agreed to receive a the 9-month note receivable shown on the Trial Balance. The customer pays interest every three months for the past three months (Aug 1st, Nov 1st, Feb 1st). The interest rate on the note is: 5%. Note Receivable is on unadjusted trial balance $15198.
Assume the savings account will earn 12% interest compounded semi-annually. Calculate the amount of interest Betty DeRose will earn over the eight year period
Concord Company sold 201 color laser copiers on July 10, 2017, for $4,230 apiece, together with a 1-year warranty.
Prepare the journal entry to record the sale of the bonds on January 1, 2016, and the proper balance sheet presentation on this date
Determine the equivalent units of production. Determine the costs per equivalent unit. Determine the cost of ending work in process inventory.
goochu2019s planned to sell 75000 units this year at 4.00 per unit. actual results indicate that 76000 units were sold
Compute the Lease Liability to be recorded by the Lessee at inception of the lease and compute the ROU Asset to be recorded by the Lessee at inception
Debt-equity ratio, enterprise value, earnings per share, operating margin, net profit margin, accounts receivable days, accounts payable days, inventory days interest coverage ratio, return on equity, return on assets, price-earnings ratio, market..
Summarize the operating segments of the company and highlight any facts you find interesting and why. Summarize the noncontrolling interests accounting.
Paula, has recently started her career in an audit firm, and has been working on her second audit assignment - What would you do if you were Paula
If an entrepreneur applies for a loan amounting to P500,000 in a bank, the simple interest of which is P157,000 for 3 years, what interest rate is being charged
Purchased furniture and equipment costing $30,000. A cash payment of $10,000 was made immediately; the remainder will be paid in 6 months.
Subsequent Events and Subsequently Discovered Facts. Michael Ewing is auditing the financial statements of Dallas Company for the year ended December 31, 2014.
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