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Purchase of Computer with Zero-Interest-Bearing Debt Napoleon Corporation purchased a computer on December 31, 2009, for $130,000, paying $30,000 down and agreeing to pay the balance in five equal installments of $20,000 payable each December 31 beginning in 2010. An assumed interest rate of 10% is implicit in the purchase price.
(a) Prepare the journal entry (ies) at the date of purchase. (Round to two decimal places)
(b) Prepare the journal entry (ies) at December 31, 2010, to record the payment and interest (effective interest method employed).
(c) Prepare the journal entry (ies) at December 31, 2011, to record the payment and interest (effective interest method employed).
List and define the basic organizational structures.
prepare a cash receipts journal based on the information given below and post it to the accounts receivable subsidiary
a company purchased a cash register on january 1 for 5400. this register has a useful life of 10 years and a salvage
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differences in operating income between variable costing and absorption costing are due solely to accounting for costs.
prepare the following journal entries and answer the questions.descriptionsexplanations are not required for the
Identify the three areas of an auditor work that are significantly impacted by the presence of IT accounting systems.
for 2010, ford corporation reported net income of $15000, net sales $200000; and average share outstanding 6000. there were no preferred stock dividends. what was the 2010 earnings per share?
Hutch Corporation finished their fiscal year ending March 31, 2010, with $88,000 of net income. They issued dividends of $22,000 at year end. At the end of the year on March 31, 2010, they had a net loss of ($46,000) and did not distribute any div..
Based on your experience or readings, discuss the role of higher education and professional development providers in the preparation of Purchasing and Supply Management professionals to meet the challenges of the profession in first quarter of thi..
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Alex Mashiri and Dana Mendel are discussing the benefits of budgeting. They ask you to identify the primary advantages of budgeting. Comply with their request.
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