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On December 1, 2016, Fine Dining Products borrowed $86,000 on a 5%, 10-year note with annual installment payments of $8,600 plus interest due on December 1 of each succeeding year. On December 1, the principal amount was recorded as a long-term note payable. What amount of the note payable will be shown as current portion of Long-Term Note Payable on the balance sheet as of December 31, 2016?
A.$8,600 B.$12,900 C.$4,300 D.$17,200
On December 15, 2009, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sale method of accounting for this transaction. Terms called for a down payment of $500,000 with the balance..
Assuming a 30% tax rate, what amount was deducted for depreciation on the corporation's tax return for the current year
Aamodt Music sold CDs to retailers and recorded sales revenue of $700,000. During 2014, retailers returned CDs to Aamodt and were granted credit of $78,000.
Retail customers pay for merchandise by cash or credit card at cash registers when merchandise is purchased
What is the difference between an account and a ledger? Do the terms debit and credit signify increase or decrease, or can they signify either? Explain.
Using direct labor-hours as the base for assigning manufacturing overhead cost to products - Determine the unit product cost of one pound of the Kenya Dark coffee and one pound of the Viet Select coffee.
a business received an offer from an exporter for 20000 units of product at 15 per unit. the acceptance of the offer
harris kidz is a retail store specializing in childrenu2019s clothing. harrisu2019s management accountant hasgathered
How many shares of common stock are outstanding? Assuming there is a stated value, what is the stated value of the common stock?
Miller Company has a times interest earned ratio of 5. Sales and variable expenses were $57,290 and $40,105 respectively. Compute the company's fixed interest expense
Kentucky Enterprises purchased a machine on January 2, 2010, at a cost of $120,000. An additional $50,000 was spent for installation, but this amount was charged erroneously to repairs expense. The machine has a useful life of five years and a sal..
the 2010 balance sheet of greystone inc. showed current assets of 3190 and current liabilities of 1480. the 2011
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