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On December 1st 2018, in exchange for consulting services, ABC corp received a $100,000 2 year, 10% bond receivable from their customer. Interest is paid annually on November 31st. The market rate for a similar bond is 8%.
Question 1: Provide the journal entries for the transaction on December 1st, 2018.
Question 2: Provide the adjusting entries for December 31, 2018.
Which of the following is a stakeholder of an organization?
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Sales are $1.5 million, cost of goods sold is $600,000, depreciation expense is $150,000, other operating expenses is $300,000, addition to retained earnings is $146,250, dividends per share is $1, tax rate is 30 percent, and number of shares of comm..
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Hinshaw Company purchased a new machine on October 1, 2014, at a cost of $85,120. The company estimated that the machine has a salvage value of $7,490. The machine is expected to be used for 62,110 working hours during its 8-year life. Compute deprec..
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