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MixRecording Studios purchased $7,800 in electronic components from TechCom. MixRecording Studios signed a 60-day, 10% promissory note for $7,800. TechCom's journal entry to record the sales portion of the transaction is:
In 2010, a compact disc cost $14. If the price of CDs continues to increase at an annual compound rate of 4 percent, how much will a disc cost in 10 years? 25 years? 50 years?
A truck costs $16,000 with a residual value of $1,000. It has an estimated useful life of 5 years. If the truck was bought on July 3, what would be the book value at end of year 1?
In truth, not enough to pay for the band's expenses. For his taxes, Rocky receives Form 1099 Misc for his music performances.
Ritter company issues $600,000 of 10%, 10-year bonds on januanry 1, 2008 at 102. Interest payable semiannually on july 1 and january 1. The company uses the straight-line method of amoritization.
What is the difference between cash and accrual accounting? Which basis of accounting do most companies use, cash or accrual? Why? Which method is approved by GAAP? Why?
List and describe four potential problems with a "traditional" overhead allocation system. List and describe four "red flags" that may indicate you should consider revising your overhead allocation system.
Jeffrey Mogul is a Hollywood film producer and he is currently evaluating a script by new screenwriter and director, Betty Jo Thurston. Jeffrey knows that the probability of a film by a new director being a success is about .10 and the probability..
Violeen Corporation (VC), a private Canadian company with a December 31 year end, applies ASPE in preparing its financial statements.
Banks have receivables that are the result of investing activities rather than sale or trade. We call these signed documents notes receivable.
On January 1, 2010, Priscilla signed a FIVE year lease to rent office space from Marjorie. The lease commenced immediately on January 1, 2010. During 2010, Priscilla paid Marjorie $24,000 for the first year's rent, $2,000 for the last month's rent..
Examine Target for the years 2004-2006 and compare to Walmart. Comment on the relative liquidity and efficiency these firms. How does Target compare to Walmart? Would you invest in this company?
Write an analysis about test of liquidity that compare Best buy to Radio Shack and Conn's.
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