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1. On October 1, Eder Fabrication borrowed $60 million and issued a nine-month promissory note. Interest was discounted at issuance at a 12% discount rate. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period.
The test data method and an integrated test facility are similar in that they are both tests of applications controls and they both rely on the use of test data. Explain the difference between these two audit techniques.
Suppose Malcolm chooses to prorate the under or overapplied overhead to work in process, finished goods, and cost of goods sold in proportion to their ending balances. Would Malcolm's reported income be higher or lower than the answer you computed..
during the current month a company that uses a job order accounting system purchases 50000.00 in raw materials for
the weighted-average cost of capital for forstone corporation is 12 percent. last year one of the divisions of forstone
complete the following exercise using the excel template found in your online classroom and respond to at least two of
What is filtering software? Why would organizations use such software? What issues can arise from the use of this software?
Since cash is the most important asset in a firm, success of a firm can be directly traced to its cash management. Though reliance on cash flows to the exclusion of accrual accounting is discouraged, comparing cash from operations to net income ca..
On January 2, 2011, Jansing Corporation acquired a new machine with an estimated useful life of five years. The cost of the equipment was $40,000 with a residual value of $5,000.
a melbourne-based company acacia is considering the adoption of an acitivity-based costingabc system because they
mike greenberg opened clean window washing inc. on july 1 2014. during july the following transactions were
a neighborhood restaurant opens for lunch only and has a menu limited to five meals. the history of each menu item
Compute the basic earnings per share for 2014. (Round to the nearest penny.) Compute the diluted earnings per share for 2014. (Round to the nearest penny.)
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