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Question - On January 1, 2021, Marigold Corporation sold property to Ivanhoe Company. There was no established exchange price for the property, and Ivanhoe gave Marigold a $4200000 zero-interest-bearing note payable in 5 equal annual installments of $840000, with the first payment due December 31, 2021. The prevailing rate of interest for a note of this type is 9%. The present value of the note at 9% was $3267348 at January 1, 2021. What should be the balance of the Discount on Notes Payable account on the books of Ivanhoe at December 31, 2021 after adjusting entries are made, assuming that the effective-interest method is used?
a barn with an adjusted basis of 125,000 was destroyed by a tornado on March 5, 2011 on May 15, 2011 the insurance company paid the owner 150,000 the owner reingested 170,000 in another barn what is the basis of the new barn if non-recognition of ..
Discuss the importance of implementing effective internal controls in organisation. In addition, evaluate the impact of breakdown in internal control
summerborn manufacturing co. completed the following transactions during 2012 jan 16 declared a cash dividend on the 5
Write a memo to Marcus. The memo should be concise, clear, unified, and should be adapted to the audience's needs. financing for the purchase of MicroPet
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In addition Larry's car (15000 value cost 2000) was stolen during the year, and the insurance reimbursement was only 7000. He also had 2000 of travel expenses related to his job not reimbursed.
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Payment for machinery, $9,000. What amount would be reported for financing cash flows on the Statement of Cash Flows
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For each of the following transactions for Sky Blue Company owned by sole proprietor Anna Cerveny, give the effects amounts and direction of effect.
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