Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Ontario Resources, a natural energy supplier, borrowed $80 million cash on November 1, 2013, to fund a geological survey. The loan was made by Quebec Banque under a short-term credit line. Ontario Resources issued a 9-month, 12% promissory note with interest payable at maturity. Ontario Resources' fiscal period is the calendar year.
Required: 1. Prepare the journal entry for the issuance of the note by Ontario Resources.
2. Prepare the appropriate adjusting entry for the note by Ontario Resources on December 31, 2013. Show calculations.
3. Prepare the journal entry for the payment of the note at maturity. Show calculations.
Revenues, gains, and investments by owners are all increases in net assets. What are the distinctions among them?
Aftab Company limited realized itself as a social responsible company and decided to construct an employees housing society. How would it capitalize the borrowing cost?
1.garcia corporation purchased a truck by issuing an 108000 4-year zero-interest-bearing note to equinox inc. the
kristen the regional manager for a national hardware chain is based in atlanta. during march and april of this year she
The following data pertains to the direct materials cost for the month of October. What is the direct materials efficiency (quantity) variance?
the controller of sagehen enterprises believes that the company should switch from the lifo method to the fifo method.
A private-purpose trust fund sold investments in securities having a carrying value of $23,000 for $26,000, resulting in a $3,000 gain on the change in value. If there are no trust provisions to the contrary, the gain is generally??
in 2010 the moncrief company purchased from jim lester the right to be the sole distributor in the western states of a
if inventory is being valued at cost and the price level is steadily rising discuss which of the two methods of costing
What are the tax consequences of the asset transfer and land sales if Gene contributes the land to Dee Corporation in exchange for all its stock? What alternative methods can be used to structure the transaction to achieve better tax consequences?
the common stock of alexander hamilton inc. is currently selling at 110 per share. the directors wish to reduce the
u are a fresh accounting graduate. you have landed a job with a big 3 accounting firm. the first day at your job your
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd