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On December 31, 2014, Kate Holmes Company has $7,267,400 of short-term debt in the form of notes payable to Gotham State Bank due in 2015. On January 28, 2015, Holmes enters into a refinancing agreement with Gotham that will permit it to borrow up to 50% of the gross amount of its accounts receivable. Receivables are expected to range between a low of $5,100,000 in May to a high of $8,162,000 in October during the year 2015. The interest cost of the maturing short-term debt is 15%, and the new agreement calls for a fluctuating interest rate at 1% above the prime rate on notes due in 2019. Holmes's December 31, 2014, balance sheet is issued on February 15, 2015. Prepare a partial balance sheet for Holmes at December 31, 2014, showing how its $7,267,400 of short-term debt should be presented including footnote disclosure.
briggs candle supply makes candles. the sales mix of its three product lines is birthday candles 30 standard tapered
1. a company had expenses other than cost of goods sold of 262000. determine sales and gross profit given cost of goods
When performing a variance analysis, what are the possible causes for unfavorable or favorable variances? How could this type of analysis help managers?
a. Determine the budgeted factory overhead rate based on direct labor-hours. b. What is the applied overhead based on direct labor-hours? c. Is overhead overapplied or underapplied and by how much?
company n has a 5-year note payable that will mature on march 17 2012.company n has an agreement with a local bank to
Silva Corporation reported net sales of $240,000, $420,000, and $540,000 in the years 2007, 2008, and 2009 respectively. If 2007 is the base year, what is the trend percentage for 2009?
All of the Information you need for the Project is located in this Workbook.There are 10 Sheets in the Workbook including this one.
abbott laboratories currently sells its prducts for 1200 per unit. management is contemplating a 10 increase in the
rhonda owns 50 of the stock of peach corporation. she and the other 50 shareholder rachel have decided that additional
Draft a memo to CEO Carlisle comparing the advantages and disadvantages of using forward contracts and options to hedge foreign exchange risk. Make a recommendation for which type of hedging instrument you believe the company should employ, and provi..
master grill sells free-standing gas grills plus installation to a customers gas line for a total price of 700. the
Consider an asset that costs $780,000 and is depreciated straigh-line to zero over its eight-year tax life. The aset is to be used in a five-year project; at teh end of the project, the asset can be sold for $135,000. If the relevant tax rate is 3..
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