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Question 1 - On January 1, 2009, the Plimpton Corporation leased some equipment on a 2-year lease, paying $15,000 per year each December 31. The lease is considered to be an operating lease. Prepare the general journal entry to record the first lease payment on December 31, 2009.
Question 2 - Martin Corporation issued $3,000,000 of 8%, 20-year bonds payable at par value on January 1, 2009. Interest is payable each June 30 and December 31.
(a) Prepare the general journal entry to record the issuance of the bonds on January 1, 2009.
(b) Prepare the general journal entry to record the first interest payment on June 30, 2009.
What is Small's portion of the net income? What is Big's portion of the net income? Make the entry for this allocation. Two people are starting a small IT firm. They come to you for advice on how to form a partnership
On July 12, 2019, Veronica borrowed P100 000 and agreed to pay the interest at 7% compounded monthly. How much must she pay
1. Prepare four line graphs with the ratio on the vertical axis and the years on the hori- zontal axis for the following four ratios (rounded to one decimal place):
What is a preference ballot? Why are they useful? What is instant runoff voting (IRV)? Which cities in the United States use instant runoff voting?
What is the balance in the allowance account after the year-end adjustment has been made using the percentage of net sales method
i-time inc produces electronic timepieces. the company uses mini-lcd dispalys for its products. each time piece uses
Compute the figure to be charged in the income statement and the figure to be disclosed in the balance sheet of the scheme as a net pension liability
The following are the account balances from the Adjusted Trial Balance of SGA Incorporated as of January 31, 2013. Use the account balances and FIND NET INCOME
The uniform rod AB has a weight of 10 lb. If the spring DC is unstretched when θ =0° , determine the angle for equilibrium using the principle of virtual work. The spring always remains in the horizontal position due to the roller guide at D.
Describe one important criterion that you should consider when deciding if you should join or establish a business partnership. outline a significant factor
From the information given, compute the depreciation charge for 2018 under each of the following methods.
Prepare the journal entries to record the assignment of direct materials, direct labor, and manufacturing overhead costs to production.
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