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On August 31, Jenks Co. partially refunded $180,000 of its outstanding 10% , note payable, made 1 year ago to Arma State Bank by paying $180,000 plus $18,000 interest (having obtained the $198,000 by using $52,400 cash and siging a new 1-year $160,000 note discounted at 9% by the bank)
1. Make the entry to record the partial refunding. Assume Jenks Co. makes reversing entries when appropriate.
2. Prepare the adjusting entry at December 31, assuming straight-line amortization of the discount.
The R. Morin Construction Corporation requires to borrow $100,000 to help finance cost of a new $150,000 hydraulic crane used in firm's commercial construction business.
The management of Mitchell labs announced to go private in 2002 by purchasing in all 3 million of its outstanding shares at 19.50/share. By 2006 management had restructured the firm by selling off petroleum research division for 13 million.
What is the industry average price-earnings ratio?
Questions based on Ratio analysis, Standard deviation, and SWOT analysis - International trade occurs primarily because of relative price difference among nations.
Telecom Italia is considering investment in a capital project. Initial cost in year 0 is $149,000 to be depreciated straight line over five years to an expected salvage value of 15,000 dollar.
Assume that Jong used the equity method of accounting for its investment in Nye instead of the cost method. Calculate the balance of its "Investment in Nye" account.
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Does the essay by Wayne F. Cascio, Decency Means More than Always Low Prices: A Comparison of Costco to Wal-Mart's Sam's Club, tend to support the position of Milton Friedman or R. Edward Freeman?
Evaluation of Foreign Currency Exposure due to changes in currency rates - What is Rolls-Royce's dollar transaction exposure in dollar terms? In pound terms?
Preparation of operating budget of hospital by combining revenue and expense budget - Combine the revenue (Section A) and expense budgets to present an operating budget for the coming year.
Bay, Corporation buys a new machine for $50,000 on March 28, 2004. The useful life was expected to be 8-years & then they would sell it to junk yard for $2,000.
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