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Question - On September 28, 2018, Benson Consulting signs a contract with Commercial Cleaning Service Commercial Cleaning will provide 6 months of office cleaning services for $2,000 per month. Benson Consulting pays $12,000 cash to Commercial Cleaning on September 28, 2018. Cleanin services will begin on October 1, 2018. Complete the following requirements for Benson Consulting.
(1) Prepare the journal entries for September 28, 2018 and December 31, 2018 (the end of Benson's fiscal year). Make proper journal entries (omit explanations).
(2) If Benson fails to record the December 31, 2018 adjusting entry, what is the effect on net income, income statement account(s) and balance sheet account(s)?
(3) Why is it important for companies to record adjusting entries?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
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Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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