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On December 31, 2012, Ed Abbey Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Abbey Co. agreed to accept a $291,500 zero-interest-bearing note due December 31, 2014, as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of 11%. Abbey is much more creditworthy and has various lines of credit at 6%.
Prepare the journal entry to record the transaction of December 31, 2012, for the Ed Abbey Co.
Assuming Ed Abbey Co.’s fiscal year-end is December 31, prepare the journal entry for December 31, 2013.
Assuming Ed Abbey Co.’s fiscal year-end is December 31, prepare the journal entry for December 31, 2014.
Evaluate the company's contribution margin (CM) ratio and Estimate the change in the company's net operating income if it were to increase its total sales by $1,000.
The building had a fair market value of $78,353 on the date of the sale. Prepare any journal entries (if necessary) that would be required related to the Note Receivable at the end of 2009, 2010, 2011, and 2012.
generate, evaluate and use quantitative and qualitative information to measure financial and non financial performance of an organisation.
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Record journal entries that reflect all of the above information and a local business donated medical supplies to Wakefield with a value of $40,000. Prepare journal entry for receipt of these supplies.
Woody Light year is considering the purchase of a toy store from Andy Enterprises. Woody expects the store will generate net cash flows (cash inflows less cash outflows) of $50,000 per year for 10 years. What is the maximum amount Woody should offer ..
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What affect will this have on operating income
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