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On September 1 2010 Herman Co. issued a note payable to National Bank in the amount of 1,200,000 bearing interst at 12% and payable in three equal annual principal payments of $400,000. On this date the banks prime rate was 11%. The first payment for interst and principle was made on September 1 2011. At december 31 2001, Herman should record accured insterst payable.
If 15,000 units of the new product could be sold at $16.00 per unit, and the company's other business did not change, calculate the company's total operating income and average contribution margin ratio. (The new product adds an additional $37,800..
Wynn, Inc. has contract to construct a large hotel for $12,000,000. The contract was signed on the month January 2, 2010 and it was expected that the hotel would be complete on the month of December 31, 2013. Under these situations, what amount of ..
How can the concept of unit-level activities be applied to an airline? More specifically, what are two examples of unit-level activities for JetBlue? What steps has JetBlue taken to manage these unit-level activities more efficiently?
The actual return on plan assets was $1 million although it was expected to be $6 million. On average, employees' remaining service life with the company is 18 years.
How will the declaration and distribution of a 10 percent stock dividend affect the issuing corporation's balance of retained earnings and total stockholders' equity, respectively?
PepsiCo's financial statements are presented in Appendix A. Coca-Cola's financial statements are presented in Appendix B.
Record the following transactions of a company in a general journal form: Reacquired 8,000 of its own $10 par value common stock at $40 cash per share. The stock was originally issued at $15 per share.
You are an employee of BusComm Consulting. Begun as a small business just a few years ago, BusComm has outsourced its payroll and tax accounting and return preparation to Accountpreneurs, a company specializing in accounting support for small busi..
Nygaard sports single product is purchased for $30 per unit and resold for $53 per unit. the expected inventory level of 4750 units on december 31, 2009, is more than the managements desired level for 2010, which is 20% of the next month's expecte..
Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $75000 of salary, $3000 long term capital gain and $1500 interst income. Bob's expenses for the year consists of $800 investment advice fe..
Which of the following is not a common method of capital budgeting?
What is the difference between a general control and an application control? What internal controls can be implemented using information systems to safeguard an organization's electronic assets?
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