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Cali, Inc. had a $4,000,000 note payable due on March 15, year 3. On January 28, year 3, before the issuance of its year 2 financial statements, Cali issued long-term bonds in the amount of $4,500,000. Proceeds from the bonds were used to repay the note when it came due. How should Cali classify the note in its December 31, year 2 financial statements?
Assume the marginal rate of substitution between land and labor is 2 in producing apples and 1 in producing oranges. This means that if we reduce labor by one in oranges, we need one more unit of land. If we reduce labor by one in apples, we need two..
Evaluate each method in terms of its effect on cash flows, fixed asset turnover, and earnings per share. Assuming that the company is most interested in maintaining a high EPS during year 1 and 2, which method would you recomme..
Explain how you would explore the best practices of technology in use in an HRM office. What factual information would you share to convince the business leaders of the value of new HRM technology changes? Provide a thorough explanation.
Discuss whether you agree with this Update’s required bifurcation of embedded derivative from hybrid financial instrument. Does IFRS 9 require bifurcation of hybrid financial instrument? What is the percentage of ASU 2016-01 dissenters to total numbe..
Chance Company had two operating divisions, one manufacturing farm equipment and other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. Prepare an income statement for 2016 beg..
Their partnership agreement calls for a 5% interest allowance on the partner's capital balances with the remaining income or loss to be allocated equally. If the partnership reports income of $174,000 for its first year, what amount of income is ..
Crane Company is about to issue $251,800 of 7-year bonds paying an 8% interest rate, with interest payable semiannually. The discount rate for such securities is 12%. Click here to view the factor table. (For calculation purposes, use 5 decimal place..
Evaluate the unknowns in Big Chuck's abbreviated cash budget and evaluate the outstanding loan balance as of September 30, after any repayments have been made.
Kim works for a clothing manufacturer as a dress designer. She travels to New York City to attend five days of fashion shows and then spends three days sightseeing. presuming no reimbursement, how much can kim deduct as to the trip? Assume that lodgi..
Sunita Computer Supplies entered into the following transactions. Prepare journal entries under the perpetual inventory system.
Victor used the par value method to record the purchase of the treasury shares. What would be the balance in the paid-in capital from treasury stock account at
Evaluate the minimum revenue that VPharm should derive from supplying MBX Ltd in years 2 and 3 in order to match the forecast profit contribution by the anti-malaria division.
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