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Graves Company borrows $90,000 on July 1 from the bank by signing a $90,000, 7%, 1-year note payable. Prepare the journal entries to record (a) The proceeds of the note and (b) Accrued interest at December 31, assuming adjusting entries are made only at the end of the year.
bill hildebrand and melissa nordhaus opened party-time t-shirts to sell t-shirts for parties at their college. the
Explain the activity-based costing (ABC) and traditional two-stage method cost allocation for overhead. Why would a firm use activity-based costing (ABC) rather than traditional two-stage methods of cost allocation for overhead?
state college technology store is a retail computer store in the university center of a large mid-western university.
Calculate the predetermined overhead rate for the year using each of the following cost drivers:
at the end of her first year of university max decided that he wanted to set up a courier service. he invested savings
Juanita, who is single, is in an automobile accident in 2012 and her car sustains $6,200 in damages. Because both drivers received tickets in the accident, Juanita does not expect to recover any of the loss from her insurance company.
what are the differences between a direct-financing and a sales-type lease for a lessor? why would a lessor provide
the charter of a corporation provides for the issuance of 100000 shares of common stock. assume that 60000 shares were
yummy juices is a juice shop located in downtown miami. the owner is considering the purchase of a new juicer to
anderson company uses the indirect method of preparing the statement of cash flows and reports the following
dutson company manufactures running shoes and tennis shoes. the projected income statments for the two products are as
the following classified balance sheet has numerous errors. indicate the errors in this balance sheet by preparing a
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