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Problem 1: On 1 July 2019, Sitara Ltd sells a computer to Kitara Ltd. The computer cost Sitara Ltd $9000. Rather than selling the item for a cash price or a short-term claim for cash of $12 009, Sitara Ltd accepts a promissory note that requires Kitara Ltd to make four annual payments of $4000 each, the first one to be made on 30 June 2020. The difference between the gross receipts and the current sales price represents interest revenue earned by Sitara Ltd over the note period. The rate implicit in the arrangement is 12 per cent. Provide a journal entry with a clear distribution of instalment payment into interest and principal amount as of 30/6/2021.
If the interest rate is 4.9 percent, compounded monthly, and she has a cash down payment of $2,500, what price car can she afford to purchase
Spencer Wilkes is the marketing manager at Darby Company. Last year, Spencer recommended the company approve a capital investment project for the addition of a new product line. What is the fundamental ethical issue? Who are the affected parties? If ..
Prepare the journal entries to update depreciation to September 30, 2020.Bridgeport Company sells equipment on September 30, 2020, for $17,600 cash.
What are the agency's costs, inclusive of any expected bonus payments, if it offers a $55,000 bonus for low operational costs
Assume also that the carrying value of the bonds at the redemption date is $101,607. Prepare the entry to record the redemption of the bonds.
Can you get a copy of the full text of a GASB statement from this site? If not, how would you obtain a copy of GASB statement no. 34? Illustrate what is the cost to purchase a statement?
Record the 2020 transactions in a statements model like the preceding one. In the Cash Flow column, use the initials OA to designate operating activity
Make general journal entries to record the transactions and depreciation journal entries required at the end of each reporting period up to 30 June 2024.
Jell and Dell were partners with capital balances of $600 and $800 and an income sharing ratio of 2:3. They admitted Zell to a 30% interest in the partnership, and the total amount of goodwill credited to the original partners was $700. Illustrate..
Capital structure which will mean their WACC will change. Beyond the change in SST's capital weights, how else might the WACC be impacted?
Prepare a multiple-step income statement for Fred, Inc. for the year ended December 31, 2020 including earnings per share, and a comprehensive income statement
Prepare the adjusting journal entry for uncollectible accounts. At the end of the current year, Accounts Receivable has a balance of $800,000
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