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Reporting Current and Noncurrent Portions of Long- term Debt Assume that on December 1, 2010, your company borrowed $ 14,000, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2011, $ 2,000; 2012, $ 3,000; 2013, $ 4,000; and 2014, $ 5,000. Show how this loan will be reported in the December 31, 2011 and 2010 balance sheets, assuming that principal payments will be made when required.
you have been employed as a entry level management accountant for a little under a year. you suspect that your
During June, 90,000 units were produced. The standard quantity of material allowed per unit was 2 pounds at a standard cost of $5 per pound. If there was an unfavorable quantity variance of $5,000 for June, the actual quantity of materials used mu..
the budgeted and actual revenues and expenditures of seaside township for a recent year in millions were as presented
affinity toasters produces top-quality bagel and bun toasters. the jessie princess production process requires four
Can any of the principles discussed under the same general category be deduced or logically derived from these postulates?
David is admitted to an existing partnership. Several partnership debts and obligations have become due. With regards to ONLY those debts and obligations arising AFTER David joined the partnership.
if inventory costs are rising which method fifo lifo or weighted average cost results in the highest net income? which
a company allocates overhead to production on the basis of direct labor cost. if the companys total estimated overhead
In its first year of operations, Harden Co. earned $39,000 in revenues and received $33,000 cash from these customers-Calculate the first year’s net income under both the cash basis and the accrual basis of accounting.
on june 30 2009 sams office supplies issued 50000 face value of 8 bonds at 106. they were five-year bonds with interest
Is there an advantage to either method of filing? If they postpone their wedding until the January date and file as single persons, will they reduce their tax bill for 2004?
piere imports uses the perpetual system in accounting for merchandise inventory and had the following transactions
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