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Question - Yorkton Inc. issued a 20-year, 5%, $1,000,000 mortgage note payable to ?nance construction of a new building on December 31, 2021. The terms provide for semi- annual instalment payments on June 30 and December 31.
Required - Prepare the journal entries to record the mortgage note payable and the first two instalment payments assuming the payment is:
a. A fixed principal payment of $25,000
b. A blended payment of $39,836
In the current year, David and Debbie Wayland, both successful physicians, made cash investment for a limited partnership interest in a California berry farm. In addition to the cash obtained from the investors-Identify the tax issues facing the W..
Prepare cash flow analysis using indirect method. Prepare cash flow analysis for operations
Jfenix will be given a bonus of 10% of net income after interest, salary and bonus. How much is the bonus given to Jfenix
Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid
Neil attended 11 MCA dinner meetings in 2016. Each dinner involved the following costs: $40 (fee for speaker), $25 (price of meal), and $10 (parking).
Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. How much are total assets?
Prepare the December 31, 2013, adjusting entry to report these investments at fairvalue.
The December 31 , 2013 balance sheet of schism inc 120,000 in common stock account and 2,120,000 in the additional paid in surplus account.
Prepare the stockholders' equity section (including schedules of retained earnings and additional paid-in capital) of the balance sheet of Ayayai Corporation
Determine and Prepare the necessary journal entries that result from the bankreconciliaiton.Prepare the bank reconciliaiton at February 28
Sheffield Corp. is constructing a building. Construction began on January 1 and was completed on December 31. What the weighted-average accumulated expenditures
Fish Corp. purchases a $500,000 face value bond which matures in two years. The coupon rate is 6% and the market rate is 7%. What is the premium or discount
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