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On January 1, a company issued and sold a $400,000, 7%, 10-year bong payable, and recieved proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses the Straight line method to amoritze the discount. Prepare a Journal Entry to record the June 30th interest payment. You may exclude the explanation
The balance sheet and income statement for Bingle Ltd is presented to you as follows: Balance Sheet Extract as at 30 June 2012 with comparatives
Q. Explain the Matching Principle? Matching Principle - A basic concept of basic accounting. In any one given accounting period, you must try to match the revenue you are repor
How do I prepare a partial income statement under each inventory method?
What is asset turnover - Asset turnover is a ratio which is considered as measures the effectiveness with which a business uses its assets in relation to the level of sales or inc
Once credit has been extended it is vital to ensure that customers abide by agreed terms of trade. Regular checks on customer accounts for instance using an aged receivables analys
Real Estate Mortgage Investment Conduit (REMIC) - An entity which holds a fixed pool of mortgages and issues multiple classes of interest in itself to investors. A qualified REMIC
Small Business Stock -No corporate investors can exclude up to 50 percent of the GAIN they realize on disposition of qualified small business stock issued after Aug. 10, 1993 and h
The capital structure of Wild West Inc. is as follows: - Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and current price at par - Preferred shares:
Q. What do you mean by Inflation? Predicts of future inflation of sales prices and variable costs should be prepared Therefore that a nominal NPV evaluation is able to be under
Q. What do you understand by Tax Court? Tax Court - U.S. Tax Court is a legislative court functioning to adjudicate controversies between taxpayers and IRS arising out of defic
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