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A local government operates on a calendar year basis. Prepare journal entries to record the following transactions and events for calendar year 2012:1. On February 1, 2012, borrowed $ 100,000 on tax anticipation notes (TANs). The TANs will be repaid with 1.0 percent interest on January 31, 2013.2. To prepare for issuing financial statements for 2012, accrued interest on the TANs through December 31, 2012.3. Invested $ 50,000 in a CD on April 1, 2012. The CD, which pays interest of 1.5 percent, will mature on September 30, 2012.4. The CD matured on September 30, 2012.
the number of pizzas ordered on friday evenings between 530 and 630 at a pizza delivery location for the last 10 weeks
John's car was completely destroyed by a fire in 2010. Its cost and fair market value were $8,000. John's claim against insurance was $3,000 and was NOT made until 2011. The following year, 2011, John settled with the insurance company for $2,000. Wh..
Which of the following pertains primarily to the planning of fixed overhead costs?
your cpa firm is preparing the tax return of a new client who says he has had numerous transactions involving the sale
the macrs depreciation allowances on 3-year property are 33.33 percent 44.45 percent 14.81 percent and 7.41 percent
what are some non-financial performance measures? what do they tell us about the performance of an organization? why is
At year-end 2013, Dub's Wind Generator Co. had a $40,000 debit balance in its Manufacturing Overhead Control account. Overhead is applied to products based on direct labor cost. Relevant account balance information at year-end follows:
Lighthouse, Inc. uses the percentage of credit sales method to record bad debt and estimates the percentage to be 2.5%. What is the adjusting entry to record bad debt on 12/31/10?
Natali Vision sells 5,000 pairs of sunglasses per month at $40 each with a desired profit margin of 25%. Fixed costs are $20,000. What is the variable cost per unit?
involving the community in program developmentin this discussion you will consider how you would involve the community
What price will your trade be executed - suppose an investor has submitted a limit order to sell at $55.38. What will happen?
Assuming that the company's tax rate is 30%, what amount will be reported for this loss on the income statement?
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