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On June 30, 2009, Sideways Movers had $243,000 in current assets and $211,000 in current liabilities. On August 1, 2009, Sideways received $50,000 from an issue of promissory notes that will mature in 2012. The notes pay interest on February 1 at an annual rate of 6 percent. Sideways' fiscal year ends on December 31.what is the interest expense for December 31?
Issuance of the bonds. Accrual of interest and amortization of bond discount for the year, on December 31, using the straight-line method.
northern manufacturing company found that during the last year it took an average of 43 days to pay its suppliers while
Helping Hands uses an accrual basis accounting. For which of the events above should an expense be recorded in May? Ineach case, how much expense should be recorded? If an eventdoes not involve an expense, specify why not.
Gold Co. sold merchandise to Bronze Co. on account, $25,000, terms 2/15, net 45. The cost of the merchandise sold is $18,500. Gold Co. issued a credit memorandum for $2,500 for merchandise returned that originally cost $1,900. Bronze Co. paid the ..
The Colson Company issued $300,000 of 10% bonds on January 1, 2011. The bonds are due January 1, 2016, with interest payable each July 1 and January 1. The bonds are issued at 98. Prepare the journal entries for (a) January 1, (b) the July 1, and ..
What is the impact of not balancing intercompany payables/receivables on a monthly basis? What is the impact on not eliminating intercompany payables/receivables during the consolidation? Is there an instance where either of these two practices wo..
chateau beaune is a family-owned winery located in the burgundy region of france which is headed by gerard despinoy.
when a company sells the product for cash it generally recognizes the revenue. but therere situations when it isnt
indicate in each case whether the item has been handled in accordance with generally accepted accounting principles
a firm sold an investment in securities available for sale originally costing 30000 for 28000. at the beginning of the
after the amount due on a sale of 28000 term 210 neom is received from a customer within the discount period the seller
What would be your estimate of the additional funds
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