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How to enter these in a Interest expense, InterestReceivable, Interest Income Journal. Some how my ending balance isnot going to good, i don't want to use the computer calcuator iwant to learn how to calcualate it manually.
NOTES PAYABLEDate.......Description...............................InterestRateJan 1......100,000 note due in 9 mths...............9 %Feb 1......75,000 note due in 6 mths................12%NOTES RECEIVABLEFeb 1......60,000 note due in 3 mths.................6%
Assume all interest is paid at maturity and none of the notesare paid early.What should be the entry for interest expense on March31?What entry should be recorded in the interest receivableaccount for Friday?How much interest income should be recorded for the yearending December 31?How much interest expense is recorded for the year endingDecember 31How much cash will be paid for the January 1 note, plusinterest, on October1?
Assume that the quantity demanded at the price calculated in part a is only 600 units. What is the full cost of the globe, and what is the price with a 25 percent markup?
The fair value of the options, estimated by an appropriate option pricing model, is $4 per option. No forfeitures are anticipated. Ignoring taxes, what is the effect on earnings in the year after the options are granted to executives?
Compare and contrast GAAP and income tax accounting. Describe how they are similar and why there are differences.
which of the folllowing is least likely to uncover fraud?
How would your answer to Part a. change, if at all, if the FMV of the gift property was $85,000 as of the date of the gift.
What are the tax consequences to each of the parties as a result of the formation of the partnership, the sale of the property, and the liquidation of the partnership?
Expected sales are 40,000 units; expected production is 50,000 units; practical (maximum) capacity is 100,000 units. If Tayla Industries uses a normal costing system and a plantwide predetermined overhead rate, the budgeted overhead per unit is:
That the taxpayer has consistently elected to carryback the net operating losses as incurred and elected the "two-year" carryback provision.
Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $30,000. What is the amount of the gain or loss on this transaction?
Questions based on partnership. a)Write definition of partnership? b) Name and discuss the characteristics of a partnership c) Advantages of a partnership as a form of business
Kramer has two primary bank accounts. At December 31, 2012, one of these accounts had bank overdrafts that caused the balance to have a negative balance of 100,000. The other bank account had a balance greater than 500,000. Kramer recorded the 100..
What do potential voting rights refer to and how do they affect the application of the equity method for investments under U.S. GAAP?
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