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Questions -
Q1. On March 1, 2021, Lease Inc. issued a 5-year, zero-interest-bearing note with a $500,000 face value to Retail Co. receiving $500,000 cash from them. Lease also gave Retail the right to rent store space for 5 years. Interest rates for notes of this type were 6% at issue. Prepare the journal entry on March 1 for Lease Co. to record the note issuance.
Q2. On July 1, 2020, Client Ltd. issued a $150,000 face value note due June 30, 2023 with a stated interest rate of 4% to Consultants Inc. in return for consulting services they provided to them in 2020. The value of the consulting services is not readily determinable and the note is not readily marketable. On the basis of a credit analysis, a reasonable imputed interest rate would be 8%. Prepare the journal entry on July 1 for Client Ltd. to record the note issuance.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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