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A firm lends $10,000 for 5-years with no stated interest rate. The market rate of interest at the time would have been 5%. What is the journal entry that should be made a. at the time the money is loaned and b. at the end of the first year of the loan?
Eric lives in a home with a six-plex located at the rear of the property. On his tax returns, he allocates 60% of all expenses to the apartment building.
The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012.
On January 2, 2011, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2012.
Assume the CFO of your organization approaches you to ask your advice about implementing the Balanced Scorecard at your organization.
Design at least two tables that could be used in a database for the hosting of information of your selected accounting cycle revenue cycle.
Liabilities incurred, such as for accrued payroll, but still unpaid at year-end, should be recorded in the General Fund by a debit to which of the following accounts?
The City of Martinville had the following pre-closing account balances in its General Fund as of June 30, 2012. Debits and credits are not separated; each account had its "normal" balance.
If you received the utility bill for $400 but the bill is not due until the 15th of the following month how would you journalize them? What account would be debited and what would be credited?
When the present value analysis of a proposed investment results in an indication the proposal has a rate of return greater than the cost of capital, the investment may not be made because:
What are the primary reasons for a country to sometimes withhold goods or put price controls on exports to international markets? What are possible outcomes of this practice? What are your feelings about price controls?
Donald Tweedt started a company to produce and distribute natural fertilizers. Donald's company sells two fertilizers that are wildly popular: green fertilizer and compost fertilizer.
Using the activity base info in (a), determine the annual amount of payroll and purchasing costs charged back to the Residential, COmmercial, and Government contract divisions from payroll and purchasing services.
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