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Lonergan Company infrequently uses its accounts receivable to get immediate cash. At the end of June 2013, the company had accounts receivable of $780,000. Lonergan needs just about $500,000 to capitalize on a unique investment opportunity. On 1st July, 2013, a local bank offers Lonergan the subsequent two alternatives: a. Borrow $500,000, sign a note payable, and assign the whole receivable balance as collateral. At the end of each month, a remittance will be made to the bank that equals the amount of receivables collected plus 12 percent interest on the unpaid balance of the note at the starting of the period. b. Transfer $550,000 of specific receivables to bank without recourse. The bank will charge a 2 % finance charge on the amount of receivables transferred. The bank will collect receivables straight from customers. The sale criteria are met.
Evaluate all materials and labor variances in a spreadsheet by using a program like Excel. Be sure to add price, quantity, wage rate, and labor efficiency variances.
For consolidated financial statements for 2011, evaluate the balances that would appear for the subsequent accounts: (1) Buildings (net), (2) Operating expenses, and (3) Non-controlling Interest in Subsidiary's Net Income.
Evaluate the overhead rates for Dept A and B and evaluate the contract cost using the rates is in question 1 and the subsequent information
Write the adjusting entry needed to reconcile the difference between actual and normal cost
Prepare a perpetual inventory record for Classique Designs, to determine the value of ending inventory at December 31, 2013, and the total amount to be assigned to cost of goods sold for the period.
Shortly thereafter, Bob sells the residence, liquidates the trust, and distributes the proceeds to the beneficiaries. Evaluate what are the estate tax consequences of these transactions to June?
What is the yield that Trevor could earn by selling the bonds today
Write a statement of cash flows for 2011 for Farmer Company
Create the journal entry for the issuance when the market price of common shares is $ 168 each and market price of the ideal is 210 each.
Preparing a seminar on cost-volume-profit analysis for non accountants
Consider the alternative to trashing is choosing the more profitable of the two alternatives (that the new employee looked at and did not like). Find effect will the trashing option (that the new employee wants) have on net income
If a product requires 7,000 machine hours, Evaluate manufacturing overhead will be allocated to this product
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