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Last Ltdis a manufacturing company that makes loans to other parties from time to time. The loan assets are classified byLast Ltdas subsequently measured atamortised cost.On 1 July 2016,Last Ltdmade the following loan:A 3-year loan of $1 million to Grate Ltdat an interest rate of 15% p.a. due annually in arrears on 30 June each year.
Last Ltd incurred transaction costs of $97,749 in respect of this loan to arrange charges for security. Prepare the entries of Last Ltd to account for this loan from initial recognition on 1 July 16 to de recognition on 30 June 2019.
The Financial Statement Effects Template
24800 were incurred in connection with the issue. interest on the bonds is payable annually each december 31. the 24800
Define interperiod income tax allocation and briefly explain the three methods that have been advocated. Conclude by summarizing the generally accepted accounting principles for interperiod income tax allocation.
On that date the market price of the bonds was 105 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $175,000. Fogel should record, as a result of this conversion, a :
To alleviate the overstocing of refrigertors at a Minneapolis retailer, some were reshipped to a Kansas City retailer where they were still held in inventory at Decmber 31,2009. Happlia paid the cost of this reshipment. Happlia use the specific id..
wedig diagnostics manufactures two lasers photometer that are used in preparing dnas. the us model is designed for use
marotta produced 4000 tons of plastic and sold 3000 tons. in 2011 the production and sales results were exactly
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what is the relationship between inventory and cost of goods sold by a pharmacy or medical supply business? explain the
1.Levine Company uses the perpetual inventory system and allows customers to use two credit cards in charging purchases.
Explain the meaning of the increase or decrease in the LIFO reserve during the 2010. What does this tell you about inventory costs for the company? Are they rising or falling? Explain.
on the basis of the following data determine the value of the inventory at the lower of cost or
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