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Question - On June 30, 2021, the High Five Surfboard Company had outstanding accounts receivable of $600,000. On July 1, 2021, the company borrowed $450000 from the Equitable Finance Corporation and signed a promissory note. Interest at 10% is payable monthly. The company assigned specific receivables totaling $600,000 as collateral for the loan. Equitable Finance charges a finance fee equal to 1.8% of the accounts receivable assigned. Prepare the journal entry to record the borrowing on the books of High Five Surfboard.
The shareholders's equity accounts of ABC corporation on December 31, 2020 are as follows: Share Premium P100,000. What total dividends and dividend per share
Prepare a consolidated statement of income and retained earnings for Cranbrook Corporation and its subsidiary Creston Company for the year ended December 31, 2015
Mona owns a rental house, If Mona elects to opt out of special depreciation for the new fence, what is the amount of current depreciation for this asset?
On July 31, 2022, the general ledger of Blossom Legal Services Inc. showed the following balances: Cash $4,800, Post the August journal entries to the ledger
Natalie is also thinking of buying a van that will be used only for business. Natalie is concerned about the impact of the van"s cost on her income statement and balance sheet.
the standard cost of item 285 manufactured by lemon company includes 3 pounds of direct materials at 6.00 per pound.
If the probability of needing maintenance is 0.8 (instead of 0.2) and the probability of not needing maintenance is 0.2, how does this change Sim's decision?
No additional shares of preferred stock were issued during fiscal years 2017&2018. Use information to determine the dollar amount of dividends that was paid
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Archibald Cor poration's stockholders' equity at December 31, 2015 was $150,000. What amount was stockholders' equity at January 1, 2015
an aging of a companys accounts receivable indicates that 4500 are estimated to be uncollectible. if allowance for
youve studied a variety of debt instruments. bonds are unique in several significant ways and their differences impact
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