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Singletary Company had the following select transactions. Apr. 1, 2010 Accepted Wilson Company's 1-year, 12% note in settlement of a $20,000 account receivable. July 1, 2010 Loaned $25,000 cash to Richard Dent on a 9-month, 10% note. Dec. 31, 2010 Accrued interest on all notes receivable. Apr. 1, 2011 Received principal plus interest on the Wilson note. Apr. 1, 2011 Richard Dent dishonored its note; Singletary expects it will eventually collect. Instructions Prepare journal entries to record the transactions. Singletary prepares adjusting entries once a year on December 31.
cougar carpet manufactures broadloom carpet in seven processes spinning dyeing playing spooling tufting latexing and
a company uses 20000 pounds of materials for which it paid 6.00 a pound. the materials price variance was 15000
During 2011 Thomas earned $36,000 of cash revenue, paid $20,000 for cash expenses, and paid a $2,000 cash dividend to the stockholders.
the financial statements presents a company to the public in financial terms. which financial statement identifies how
the following information relates to starbucks for 2007 net income 672.638 million unrealized holding loss of 20.380
newco inc. had current earnings and profits of 150000 when it made a nonliquidating distribution to an individual
explain the special feature that makes callable bonds attractive to an issuing corporation. why would some bonds be
phelps glass inc. has reported the following financial data net revenue of 10 million. variable cost of 5 million
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The balance in the unearned fees account, before adjustment at the end of the year, is $112,000. Of these fees, $71,600 have been earned. In addition, $47,400 of fees have been earned but have not been billed.
x company has the following estimated costs for the year direct materials 62800 direct labor 23800 factory supplies
united express unex is a package delivery company which offers two types of service air delivery overnight and ground
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