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On December 15, 2013, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $5,000,000. Rigsby appropriately uses the installment sale method of accounting for this transaction. Terms called for a down payment of $460,000 with the balance in two equal annual installments payable on December 15, 2014, and December 15, 2015. Ignore interest charges. Rigsby has a December 31 year-end. In 2014, Rigsby would recognize realized gross profit of what?
Compute the required monthly payment on a $80,000 30-year, fixed-rate mortgage with a nominal interest rate of 5.80%. How much of the payment goes toward principal and interest during the first year?
Verify the overall break-even point for the company by constructing a contribution format income statement showing the appropriate levels of sales for the two products.
cupola awning corporation introduced a new line of commercial awnings in 2013 that carry a two-year warranty against
Healthcare Financial Management
as you know a companys return on investment or roi is the product of its margin and turnover. financial analysts often
ruby kyleact360nbsp module 3 critical thinkingcomplete the following exercise. submit journal entries in an excel file
If a firm borrows $8,000 to finance the purchase of a new machine. The loan is to be repaid in 7 annual installments at the end of each of the next 7 years, and the interest rate on the loan is 12%. Calculate the annual payment, rounded to the nea..
Kern Company purchased bonds with a face amount of $400,000 between interest payment dates. Kern purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months of $10,000. The amount to record as the cost of..
barker company has a single product called a zet. the company normally produces and sells 89000 zets each year at a
on october 1 sams painting service borrows 80000 from national bank on a 3-month 80000 4 note. explain what entry must
Gore Inc. has outstanding 10,000 shares of $10 par value common stock. On July 1, 2008, Gore reacquired 100 shares at $85 per share. On September 1, Gore reissued 60 shares at $90 per share.
what is an intangible asset? should all intangible assets be subject to amortization? explain why or why not. why is
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