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1. D. Stoner Co., a building construction company, holds a 120-day, 9% note for $60,000, dated August 7, which was received from a customer on account. On October 6, the note is discounted at the bank at the rate of 12%.
a. Determine the number of days in the discount period.
b. Determine the amount of the discount.
c. Determine the amount of the proceeds.
d. Journalize the entry to record the discounting of the note on October 6.
lake power sports sells jet skis and other powered recreational equipment. customers pay 13 of the sales price of a jet
Which includes $2.50 variable cost and $1.75 fixed cost. If Bluebird accepts this additional business, the effect on net income will be:$52,500 increase.$15,000 increase.$37,500 increase.$11,250 decrease.$37,500 decrease.
estimating uncollectible accounts and reporting accounts receivable lafond company analyzes its accounts receivable at
for each of the following items indicate whether the costs should be capitalized or expensed immediately. 1. purchased
Prepare the appropriate entries for the lessor to record the lease, the initial payment at its commencement, and at the December 31 fiscal year-end under each of the following two independent assumptions:
A bid is received from an overseas customer for 1,000 phones at a price of $60 per phone. An additional 10% export fee on price would be assessed to the mobile phone company for overseas sales. What would be the differintial income or loss from ac..
Ken Cascioli and Bill Ryder ( see E15- 10 and E15- 11) want to know the net income for their first month activities. Post the journal entries prepared for E15- 10 and E15- 11 to general ledger T accounts and prepare a trial balance.
When purchasing merchandise on account for say $88,000, but you pay $67,000 cash on the $88,000 due. Your sales are $145,000, and the ending inventory is $24,000 what would the gross profit be?
Is this acceptable under iGAAP? If so, explain how that treatment could affect comparisons to a U.S. GAAP company.
What would be the market value of Trident Corporation if it were unlevered - What is the value of equity after the announcement of the stock repurchase plan?
The debits and credits from two transactions are presented in the following supplier's (creditor's) account:
nofat manufactures one product olestra and sells it to large potato chip manufacturers as the key ingredient in nonfat
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