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Journal entries for paid balance due on the Merchandise Inventory purchase.
1.(3/1/2009) Goochland issued $500,000 of 10-year bonds that will pay a stated annual rate of interest of 6% semi-annually until maturity. Comparable bonds are yielding 8% annual interest, so Goochland sells the bonds for a cash amount that will yield an 8% effective interest return.
Date
Account Titles
Debit
Credit
2.3/1/2009) Purchased on account $200,000 Merchandise Inventory to be held for resale. All purchases are recorded net of the 2% discount offered by the vendor. Any discounts not eventually taken by the firm are recognized as interest expense.
3.(3/8/2009) Paid the balance due on the Merchandise Inventory purchase in Transaction 19 within the discount period.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
A neurologist serves on the board of trustees of the Neurological Disease Foundation, an organization that funds clinical research. He was asked to serve due to his expertise in neurological research, and he chairs the committee of the board that ..
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Compute the book-value weights for each source of capital and Compute the market-value weights for each source of capital.
What are Zia's and Jed's bases in their new AlphaBeta stock and evaluate the total amount of gain recognized by Jed, Zia, Alpha, and Beta on the reorganization?
Make the journal entries necessary to record the transactions above using appropriate dates
Are adjusting entries used in an accrual basis accounting system or in a cash basis accounting system?
Organize journal entries to reflex how the transaction and events would be recorded for governmental fund statements and government-wide statements.
Determine the NPV of this project
Purpose the bank reconciliation at 30 th September, 2012. Purpose the adjusting entries at September 30, consider the NSF check was from a customer on account, and no interest had been accrued on the note.
The Knott Division's evaluated sales and standard cost data for the fiscal year ending Sept. 30 are as given:
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