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1. Think about the transactions listed below.a. A company obtains a $10,000 loan from a bank.b. A company purchases $15,000 of inventory from its suppliers. They paid $5,000 today and will pay the reminder at a later date.c. A company makes a $20,000 sale. The customer will pay in 30 days.For each transaction:i. What accounts would be impacted?ii. Would those accounts increase or decrease?iii. What would you debit and what would you credit if you were doing a journal entry?
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Evaluating a Company's Budget Procedures Springfield Corporation operates on a calendar-year basis. It begins the annual budgeting process in late August, when the president
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DIVISIBLE PROPERTY The property of the bankrupt divisible among creditors includes: Property belonging to the bankrupt at the commencement of the bankruptcy; Property ac
Q. Risk and Return - issue of debt? Raising debt finance will raise the gearing and the financial risk of the company while raising equity finance will lower gearing and financ
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Q. Which one of the following is not necessary in order for a corporation to pay a cash dividend? a. Adequate cash b. Approval of stockholders c. Declaration of dividends by the bo
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