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On June 1, Padilla Pasta borrows $80,000 from First Bank on a six-month, $80,000, 12 percent note.
Instructions
(a) Prepare the entry on June 1.
(b) Prepare the adjusting entry on June 30.
(c) Prepare the entry at maturity (December 1), assuming monthly adjusting entries have been made through November 30.
(d) What was the total financing cost (interest expense)?
Compute the degree of operating leverage that the company would expect to have on December 31 and compute Pittman Company's break-even point in sales dollars.
the income statement for menage industries for 2011 is as follows.menage industries incomestatementfor yearended31
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At June 30, Yaddof Company has the following bank information: cash balance per bank $3,600; outstanding checks $680; deposits in transit $550; credit memo for interest $150; bank service charge $20. What is Yaddof's adjusted cash balance on June ..
Mark Corporation estimates its manufacturing overhead to be $90,000 and its direct labor costs to be $200,000 for year 1.
Jed wants to know whether he can claim a deduction under section 179 on his 2013 income tax return for the costs incurred in 2009 with respect to planting the vineyard and can someone please let me know if there are deductions that he can claim?
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in january 2010 the free cancer foundation established an endowment of 500000 the income from which is restricted to
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