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On March 1, 2015, Vantage Services issued a 5% long-term notes payable for $15,000. It is payable over a 3-year term in $5,000 annual principal payments on March 1 of each year plus interest, beginning March 1, 2016. Each yearly instalment will include both principal repayment of $5,000 and interest payment for the preceding one-year period. On March 1, 2016, ________.
a. Vantage must accrue $5,000 of Interest Expense
b. Vantage must accrue for the coming $5,000 as current portion of principal payment
c. Vantage must pay out $750 of Interest Expense to the note holder
d. Vantage will receive $5,000 as an instalment payment
determine and use the degree of operating leverage.engberg company installs lawn sod in home yards. the company most
Sparrow Corporation would like you to review its employee fringe benefits program with regard to the tax consequences of the plan for the company's president (Polly), who is also the majority shareholder. The company owns a parking garage that is use..
Break-even-analysis - Contribution Break-even and Margin per unit margin ratio in Units
How would these capital expenditures for recreation center appear on the Town of Dex's government-wide statements of net activities and assets and prepare journal entries to record preceding information in Town of Dex Recreation Center Construction ..
Discuss the Earnings per Share results for the quarter in comparison to historic results and long-term growth targets. Discuss the emerging markets for The Coca-Cola Company and the likely future impact on earnings per share.
Compute the material price variance - Provide the accounting entry for the price variance - Compute the labor efficiency variance.
Waley Corporation, a merchandising company reported sales of 7,400 unite for May at a selling price of $677 per unit. The cost of goods sold ( all variable) was $441 per unit and the variable selling expense was $54 per unit. Prepare a contribution f..
Selk Steel Co., which began operations on January 4, 2013, had the following subsequent transactions and events in its long- term investments. Selk purchased 60,000 shares (20% of total) of Kildaire’s common stock for $1,560,000.
Checks Experts sells checks and deposits slips to businesses. The company’s history shows 40% of the sales are collected in the month of the sale, 30% the following month, 28% two months later and 2% is never collected. The company expects sales to b..
Merton Manufacturing Company has an opportunity to purchase some technologically advanced equipment that will reduce the company’s cash outflow for operating expenses by $1,271,000 per year. The cost of the equipment is $8,156,843.32. Calculate the i..
sessegnon ltd income statement for the year ended 31 december 2011nbsppound000spound000ssalesnbsp1690cost of
Foreign exchange rates are used to establish budgets and track actual performance. Of the various exchange rate combinations which do you favor? Why? Is your view the same when you add local inflation to the budgeting process?
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