Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Entries for discounting notes payable
Swain Enterprises issues a 60-day note for $800,000 to Hill Industries for merchandise inventory. Hill Industries discounts the note at 6%.
a. Journalize Swain Enterprises' entries to record:
1. the issuance of the note.
2. the payment of the note at maturity.
b. Journalize Hill Industries' entries to record:
1. the receipt of the note.
2. the receipt of the payment of the note at maturity.
Assume Green Leaf Nursery anticipated sales of $500 in this quarter. Accounts receivable at the beginning of the quarter was $300. Assuming a collection period of 30 days, which is the approximate cash collections amount for the quarter?
The after-tax profit margin is forecasted to be 5 percent, and the forecasted retention ratio is 30 percent. Use the AFN equation to forecast Carter's additional funds needed for the coming year.
What is the minimum annual interest rate they must earn to achieve their goal of $20,300 if the interest is compounded semi-annually?
What circumstances allowed the alleged frauds happen (e.g., internal control failures, lack of background checks, missing policies and procedures) - be specific?
Profit margins and turnover ratios vary from one industry to another. What differences would you expect to find between the turnover ratios, profit margins, and DuPont equations for a grocery chain and a steel company?
• How much is debt service funds for payments of principal over the life of the bonds?
What is the primary difference between agency funds and trust funds? What are the primary applications of each and how do the administrators of these funds assure responsible stewardship of their resources?
Activity based costing is a unique tool used by management to better determine where a firms costs are.
1. zanny electronics companyuses a standard cost system to collect costs related to the production of its water ski
Norman Corporation had 250,000 shares of common stock outstanding during the year. Norman declared and paid cash dividends of $200,000 on the common stock and $160,000 on the preferred stock. Net income for the year was $880,000. What is Norman's ..
During 2010, Shirley Nutt, the sole shareholder of a calendar year S corporation, received a distribution of $16,000. On December 31, 2009, her stock basis was $4,000.
When questioned by the auditors, the CFO of ABC, Inc. mentioned "An asset is just an expense waiting to happen." Discuss the validity and implications of this statement.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd