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Rebecca Land Corp. issued a 5-year, zero-interest-bearing note with a $1,000,000 face value to Lindsay Inc. for $1,000,000 cash. Rebecca also gave Lindsay the right to use a parcel of land for equipment storage for 5 years. Interest rates for notes of this type were 8% at issue.
Instructions
Prepare the journal entries to record the issuance of the note by (a) Rebecca and (b) Lindsay.
Use your calculator and round values to the nearest dollar.
Prepare the revaluation account. Devon is to bring in $50 000 as his capital and $30 000 as goodwill. Building is appreciated by $20 000.
How to Post the transaction to the "T" accounts of the company and balance off each account. Sample invested $55,000 in the business by depositing it
ON JANUARY 1, 2016 VADAR SOLD the Jedi sword for $54000. Make the journal entry Vadar makes when it sells the sword. Part 1 5 points: On July 1, 2014 The Vadar Company purchased 3 assets as described below Millenium Falcon cost $900,000 life 10 years..
Seles Corporation’s charter authorized issuance of 100,000 shares of $10 par value common stock and 50,000 shares of $50 preferred stock. The following transactions involving the issuance of shares of stock were completed. Each transaction is indepen..
retained earnings january 1 201150000advertising expense1800dividends during 20115200rent expense10400service
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Calculate the amount of application money that would be applied to application and calls (including allotment). Prepare journal entries.
Monroe, Inc., The company uses a 13.8 percent discount rate for this project. Cost and cash flows are shown in the table. What is the NPV of the project?
Calculate the ending balance of Raw Materials and calculate the ending balance of Work in Process and calculate the ending balance of Finished Goods.
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