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Question - On September 1, 2015, Dental Equipment Corporation sold equipment priced at $350,000 in exchange for a six-month note receivable with an annual interest rate of 12%, all due at maturity.
(a) Prepare the December 31, 2015 (fiscal year-end), adjusting entry made by Dental with regard to this note receivable.
(b) Prepare the entry made by Dental on March 1, 2016 (maturity date of note), to record collection of note and interest.
(c) Assume that on March 1, 2016, the maker of the note defaults and Dental does not collect the note. Prepare the entry to be made to Dental on March 1, 2016, in this situation.
Compute the amount of before-tax savings that must be generated by the new tractor to have a payback period of no more than 3 years.
What is the total amount of Revenue from Long-Term Contracts and Construction Expenses that Ivanhoe will recognize for the year ended December 31, 2020
Under the given conditions, the change in annual operating income from discontinuing the production and sale of Doombugs would be
where is wrong form the aspects of accounting ethics and professional
Holly Nikolas launched a new business, Holly's Maintenance Co., that began operations on June 1. The following transactions were completed by the company during that first month.
Question - Write a 600-1,000-word essay describing separation of duties. What are some limitations of internal controls
For governmental agencies, a budget places a legal limit on expenditures. As employees are asked for input into the budgeting process, what types of biases are likely to be encountered? Explain why these biases exist.
A company has beginning inventory of 14 units at a cost of $26 each on February 1. What is the cost of the 17 units that are sold
Based on these data, the per-unit dollar advantage or disadvantage of purchasing from the outside supplier would be:
Discuss the likely future of the European Union's involvement in accounting standard-setting in a global context.The response paper should be in APA format.
If an item is determined to be Nondeductible, select "None under the "Any limitations".) Any limitations Expenses Deductible
You are a credit analyst of a growing commercial bank. For each of the two companies, compute the following: Working capital and Current ratio
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