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Logan Appliances purchased $8,000 of merchandise, 2/10, n/30, FOB shipping point. The seller prepaid the shipping charges of $200. If Logan pays for this merchandise within the discount period, how much should Logan remit to the seller?
Where on the balance sheet should a 20 year, 12% bond, due 1/1/2013 for $500,000 be listed. Is it a current liability or a long term liability?
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..
Section 212 addresses expenses for the production or collection of income and tax return preparation fees. Which of the following is not a Section 212 deduction?
Prepare a journal entry for carlton company sells office equipment on sept.2007, for $21,000 cash. the office equipment originally cost $72,000 and as of Jan.1 2007 had accumulated deprication of $42,000. Depreciation for the first 9 months of 200..
What is the value of a Northern Pacific bond with an 11 percent coupon, maturing in 15 years? Assume the market rate for this bond is 14 percent and that the interest is paid semiannually.
John Smith started a consulting business and completed the following transactions. Prepare all journal entries related to these transactions.
Sweet Company applies overhead to jobs on the basis of 125% of direct labor cost. If job 107 shows $10,000 of manufacturing overhead apllied, how much was the direct labor cost on the job?
Assume you are reviewing a company's annual report. In addition to actual revenues reported in the income statement, what other information disclosed would give you help in estimating this company's future revenues?
Dogwood City's water enterprise fund received interest of 10,000 on long term investments. How should this amount be reported on the statement of cash flows?
The project will generate positive cash flows of $85,000 a year at the end of each of the next five years. The project's NPV is $100,000 and the company's WACC is 10 percent. What is the project's simple, regular payback?
Which of the following statements is false regarding involuntary conversions?
Terri receives $30,000 cash and accounts receivable with a $20,000 basis and a $22,000 fair market value to the partnership. What gain or loss does Terri recognize, and what is her basis in the accounts receivable?
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