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Johnson corporation bought a new machine and agreed to pay for it in equal annual installments of $6,000 at the end of each of the next 5 years. Assume the prevailing interest rate for this type of transaction is 12%, Assume the present value of an ordinary annuity of $1 at 12% for five periods is 3.60. The future amount of an ordinary annuity of $1 at 12% is 6.35. The present value of $1 at 12% is 0.567. How much should Johnson record as the note payable on the balance sheet if the financial statements were prepared today?
for each of the following scenarios provide an explanation that focuses on the critical performance factors highlighted
problem 14-1a comparative statement data for lionel company and barrymore company two competitors appear below. all
The Zoe Corporation has the following information for the month of March. Prepare a (a) schedule of cost of goods manufactured, (b) an income statement for the month ended March 31, and (c) prepare only the inventory section of the balance shee..
The cost of repairs during the same time period was $2,000 while a major overhaul which extended the life of the equipment cost $14,000. What is Jordan's basis in the equipment at the end of the two-year period?
Briefly describe when the petty cash fund should be replenished. Because there is cash on hand, is there a need to replenish the fund at year end on December 31? Explain.
Larsen Company makes and sells a single product, widgets. Three pounds of clay are needed to make one widget-How much clay should be purchased in September?
what is the purpose of using regression analysis? how may it be used to formulate strategies? provide examples
complete the following two questions. submit journal entries in an excel file and written segments in an ms word
sahara desert homes sdh reports under ifrs and constructed a new subdivision during 2008 and 2009 under contract with
on january 1 2014 jay company had 10000 shares of 1 par common stock outstanding and 4000 shares of 100 par value 7
lakeland inc. manufactured 5000 units during the month of march. they incurred direct materials cost of 100000 and
The options can be converted into common stock after July 1, 2011. The required service period is three years. How much compensation expense will be recorded for the year ending December 31, 2010 assuming that the fair value approach is used?
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