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Problem - On April 1, 2020, Marigold Corp. assigns $370,000 of its accounts receivable to First National Bank as collateral for a $290,000 loan that is due July 1, 2020. The assignment agreement calls for Marigold to continue to collect the receivables. First National Bank assesses a finance charge of 2% of the accounts receivable, and interest on the loan is 9%, a realistic rate for a note of this type.
Required - Prepare the April 1, 2020 journal entry for Marigold Corp.
What is the maximum CCA deduction for the current year, assuming the new manufacturing equipment is the only asset in the Class
Record the journal entries for the variances incurred. Discuss logical explanations for the combination of variances that Zanella experienced.
Campbell Candy Corporation desires a 16% return on investment on all operations. The following information was available for the company for the current year.
Beta of 1.2. The risk-free rate of return is 2.0% and the expected return on the market is 11.9%. What is the expected return on the share?
Determine and Prepare Income statement and Balance sheet of Potus Corporation as at 30.06.19,Sales 37,436. Particulars Amount(000)
Prepare the journal entry at the date of the bond purchase.
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Under the AICPA Standards, what steps should you take to determine whether your client can claim her income as a capital gain?
List three criteria that can be used to determine whether such costs should appear as charges in the income statement for the current period.
As of January 1, 2015, Kirk owned all 300 shares of Cork, Inc., a calendar year S corporation. What amount of non-separately stated income Kirk report
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