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C&S Marketing (CSM) recently hired a new marketing director, Jeff Otos, for its downtown Minneapolis office. As part of the arrangement, CSM agreed on February 28, 2015, to advance Jeff $40,000 on a one-year, 7 percent note, with interest to be paid at maturity on February 28, 2016. CSM prepares financial statements on June 30 and December 31.
Prepare the journal entry that CSM will make to record the interest and principal payments on February 28, 2016. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to nearest whole dollar)
the cash register tape for leprechaun industries reported sales of 7392.09. record the journal entry that would be
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Draft a letter to Apollo Shoes that addresses the following key points; assume the role of an auditor at a local firm when composing the letter.
legacy company is considering the production and sale of a new product with the following sales and cost data unit
Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO
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a) Find the z-score of the observed proportion. b) Compare the z-score to the critical value for a 0.1% significance level using a one-sided alternative. c) Explain your conclusion.
Fischer Inc. had the following inventory in fiscal 2013. The company uses the LIFO method of accounting for inventory. Calculate company's cost of goods sold
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How is the value of a bond determined? What is the value of a 10- year, $1000 par value bond with a 10% annual coupon if its required rate of return is 10%
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