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On January 1, 2013 the Montgomery company agreed to purchase a building by making 6 pymts. The 1st 3 are to be $25,000 each, Dec. 31, 2013, 2014, 2015. The last 3 are to be $40,000 each and will be paid on 12/31 2016, 2017, & 2018. Montgomery borrowed other money at a 10% annual rate. 1. At what amount should Montgomery record the note payable & corresponding cost of the bldg on 1-1-13? 2. How much interest expense on this note will Montgomery recognize in 2013?
explain the major advantages and disadvantages inherent in using both the cash and the accrual basis of accounting and
Compute total asset turnover ratio for 2009 and 2010 and evalute results, would you promote me??
The average remaining service period for employees expected to receive benefits is ten years. What is the amount of amortization to pension expense for year?
write a 350- to 500-word summary explaining the differences between revenue expenditures and capital expenditures
In 2010, Wild Corporation reported a net loss of $70,000. Wild's only net income adjustments were depreciation expense $81,000, and increase in accounts receivable $8,100. Compute Wild's net cash provided (used) by operating activities.
A performance report for direct labor shows a variance between the budget and actual amounts. This difference is a:
You have been asked to provide the journal entries for each calendar month, commencing 1 January 2009 and ending 30 June2009, to record the security in accordance with AASB139 assuming that it is classified as:
dugan company applies manufacturing overhead to jobs on the basis of machine hours used. overhead costs are expected
one bond has a coupon rate of 7 another a coupon rate of 8.5. both bonds have 11-year maturities and sell at a yield to
What inventory system do you use and why? What are its advantages and disadvantages? What activities should you perform to correctly account for your inventory at year-end? Why is it important to track inventory? What does this information tell you a..
The minimum lease payments were determined to have a present value of $208,493 at an effective interest rate of 10%. In 2009, Dalton should record interest expense of
The comparative advantages and disadvantages of ideal versus normal standards. The factors that should be included in setting the price and quantity standards for direct materials, direct labor, and manufacturing overhead.
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