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At the beginning of the year, Lambert Motors issued the three notes described below. Interest is paid at year end. 1) The company issued a two-year, 12%, 600,000 note in exchange for a tract of land. The current market rate of intrest is 12%. 2) Lambert acquired some office equipment with a fair value of 94,643 by issuing a one-year, 100,000 note. The stated interest on the note is 6%. 3) The company purchased a building by issuingh a three-year installment note. The note is to be reqpaid in equal instalments of $1 million per year beginning one year hence. The current market rate of interest is 12%. Prepare the journal entries to record each of the three transactions and the interest expense at the end of the first year for each.
many accounting writers have emphasized the effect that the allocation of fixed overhead can have on managerial
what where the total balances after adding and subtracting the adjustments giving you the adjusted trial balance totals for the month of may? for the generals favorite fishing hole comprehensive promblem.
A manufacturer of thermostats uses a kanban system to control the flow of materials. The packaging center processes 10 thermostats an hour and receives completed thermostats every 30 minutes. Containers hold 5 thermostats each.
please give me a quote for solving the attached problems. please do not use the teacher who performed the calculations
Describe the internal and external users of your company's stock information and what they would be looking for in your financial statements.
Required: Show the necessary entries in the books of Wilz Ventures Plc.
Described below are certain transactions of Carson Company for 2007: On May 10, the company purchased goods from Jay Company for $50,000, terms 2/10, n/30. Purchases and accounts payable are recorded at net amounts. The invoice was paid on May 18.
urban company manufacturers tables. if raw material used was 80000 and raw material inventory at the beginning and
Nearly a week before Hurricane Katrina reached New Orleans, Wal-Mart began moving trucks and supplies into position, as specified in the company's ________ plan.
What is the Conventions on Contracts for the International Sale of Goods (CSIG)? What is the Uniform Commercial Code (UCC)? In what ways is the coverage of the CSIG and the UCC similar or different? Explain your answer in 200 words
Explain how a physical inventory count would differ in a company using a perpetual inventory system versus one using a period inventory system.
diego company manufactures one product that is sold for 80 per unit in two geographic regionsthe east and west regions.
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