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1.At January 1, 2013, NCI Industries, Inc., was indebted to First Federal Bank under a $240,000, 10% unsecured note. The note was signed January 1, 2009, and was due December 31, 2014. Annual interest was last paid on December 31, 2011. NCI was experiencing severe financial difficulties and negotiated a restructuring of the terms of the debt agreement. First Federal agreed to reduce last year's interest and the remaining two years' interest payments to $11,555 each and delay all payments until December 31, 2014, the maturity date.Required:Prepare the journal entries by NCI Industries, Inc., necessitated by the restructuring of the debt at: (1) January 1, 2013; (2) December 31, 2013; (3) December 31, 2014.
Assuming no other changes, the effect, when moving from the change in fund balances in the governmental funds Statement of Revenues, Expenditures and Changes in Fund Balances to the change in net assets for governmental activities in the Statement..
not all pricing methods apply to the market place. in manufacturing it is common practice to determine the cost of a
Which of the following is true when ranking proposals using zero-base budgeting?
Zigs Industries had the following operating results for 2011: sales = $27,960; cost of goods sold = $19,360; depreciation expense = $4,940; interest expense = $2,190; dividends paid = $1,050.
adams co. uses the following standard to produce a single unit of its productvariable overhead 2 hrs. 3.1hr. 6.2
Shelley wants to cash in her winning lottery ticket. She can either receive ten, $100,000 semiannual payments starting today, or she can receive a lump-sum payment now based on a 6% annual interest rate. What is the equivalent lump-sum payment?
assume you purchase a ticket to a local football game for next week at a cost of 50. before the day of the game you are
prepare a business memo in word addressed to mark zuckerberg discussing the following 1. accountbook obtains a 500000
No election is made to use the straight-line method. The company does not make the § 179 election. Determine the total deductions in calculating taxable income related to the machines for 2010.
debt securities sold to investors that must be repaid at a particular date some years in the future are calledaccounts
mango cereal corporation uses a standard cost system to collect costs related to the production of its crunchy pickle
techno enterprises is a manufacturer of microchips referred to as chips. its production process is complex and involves
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