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Kananga Company has these obligations at December 31: (a) a notepayable for $100,000 due in 2 years, (b) a 10-year mortgage payable of$200,000 payable in ten $20,000 annual payments, (c) interest payable of $15,000 on themortgage, and (d) accountspayable of $60,000. For each obligation, indicate whether it shouldbe classified as a current liability.
On July 10, 2009, Bruce purchased an option to buy 1,000 shares of Omni, Inc. at $30 per share. He purchased the option for $2,000. It was to remain in effect for five months. The market experienced a decline during the latter part of the year, so..
does the partnership really have to reconstitute itself legally and if so would it be wise to do so without a formal
on january 1 2013 bishop company issued 10 bonds dated january 1 2013 with a face amount of 520 million. the bonds
Snyder, Inc., which has excess capacity, received a special order for 4,000 units at a price of $15 per unit. Currently, production and sales are anticipated to be 10,000 units without considering the special order. Budget information for the curr..
Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $26,580 which was paid in the current year.
lindsey operates a small chain of skisnowboard shops in colorado. in november of 2013 she decided to attend a two-day
alden inc. has hired you to review its internal controls for the purchase receipt storage and issuance of raw
lewis industries adopted a defined benefit pension plan on january 1 2013. by making the provisions of the plan
The journal entry required on the company's books to record the note payable on July 1, 2009 would include a
assume that the 400000 in manufacturing overhead was driven by the following activities.how much of the 400000 in
Motorcycle Manufacturers, Inc. projected sales of 76,000 machines for 2012. The estimated January 1, 2012, inventory is 6,500 units, and the desired December 31, 2012, inventory is 7,000 units.
Casso limited has an option to purchase new car for the use from a bank on loan for Rs. 100,000 with 16% interest payable annually and the principal is repayable in full at the end of four years.
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