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West Palm Company engaged in the following transactions involving promissory notes. May 3 Sold engines to Mittal Company for $ 120,000 in exchange for a 90 days,12 percent promissory note 16 Sold engines to Tata Company for $ 64,000 in exchange for a 60 day,13 percent note 31 Sold engines to Arsenal Company for $ 60,000 in exchange for a 90 day, 11 percent note 1. For each of the notes, determine the (a) maturity date , (b) interest on the note, and (c) maturity value. (Round to the nearest cent) 2. Assume that the fiscal year for West Palm ends on June 30. How much interest income should be recorded on that date? (Round to the nearest cent)
the fair value of net identifiable assets of a reporting unit of x company is 300000. on x companys books the carrying
ab and c were sharing profit and losses in the ratio of 532. the firm had insured the partners lives severally. the
Compute the sales level that would generate a 20% return on investment. Supposing the rate of return is 15%, determine the level of sales that would generate $200,000 of residual income.
ohnston co cleans and applies powder coat paint to metal items on a job-order basis. johnston has budgeted the
compare and contrast an income statement and a balance sheet. what do they measure? why would a marketing manager find
Which of the following principles best describes the conceptual rationale for the methods of matching depreciation expense with revenues?
The High and Dry Boat Company has $120,000 of 15% bonds outstanding along with 2,000 shares of $2.50 (dividend) preferred stock and 3,000 shares of common stock.
Submit your budget to the store manager with no more than a 700-word write-up for the budget. The write-up must include risks associated with sales forecasts and an analysis of ethical considerations in the preparation and subsequent use of the bu..
During its first year of operations, Maria Rose set up Roseland Inc. and invested $25,000 in the corporation. The company earned $68,000 of revenues and incurred $32,000 of expenses.
Bill is cash basis calendar year taxpayer. Which of the following December items result in gross income or deductions for the current year?
julius company developed the following standard costs for its product for 2012standard cost
What is the amount of depreciation, using the double-declining-balance method, for the third year of use for equipment costing $9,000, with an estimated residual value of $600 and an estimated life of three years?
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