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A business issued a 120-day, 6% note for $10,000 to a creditor on account. The company uses a 360-day year for interest calculations. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest.
Timmer Bachman founded the Bachman Corporation over 25 years ago. The company's genesis was the unique climbing apparatus developed by Timmer, an avid mountaineer.
If the average market value of common share is $20, year end price is $25, interest rate on borrowings is 6%, and the tax rate is 50%, then compute both basic and diluted EPS
Explain the benefits of a stock dividend both to the coprporation issuing the dividend and to the shareholder receiving the dividend.
Identify two financial intermediaries. What are their respective functions? What are their major roles in the economy? What are the money markets and what are the capital markets? How do they differ? What are their respective activities?
Ensnada Mfg. Co, rpoduces candles that contain four raw materials: wax, dye, scented oil and a wick. Each candle usues eight ounces of wax and one ounce of die, which Ensinada purchase for $0.15 and $0.02 per ounce, respepctively.
If Department K had 2,000 units, 45% completed, in process at the beginning of the period, 12,000 units were completed during the period, and 1,200 units were 40% completed at the end of the period, what was the number of equivalent units of produ..
In 2011, P Company sells land to its 80% owned subsidiary, S Company, at a gain of $50,000. What is the effect of this sale of land on consolidated net income assuming S Company still owns the land at the end of the year?
Randolph's basis in RD is $37,000. What is Randolph's basis in the distributed inventory and land?
On November 28, 2010, she sold 48 shares, which could not be specifically identified, for $576 and on December 8, 2010, she sold another 25 shares of $188, What was her recognized gain or loss?
Name the steps in completing the accounting cycle and explain how they impact the financial statements. What happens is a step is missed? Explain.
Danni, who is single, maintains a home in which she, her 15-year old brother, and her 21-year old niece live. Danni provides the majority of the support for her brother, her niece, and her cousin, age 18, who is enrolled full-time at teh universit..
Troy (single) purchased a home in Hopkinton, Massachusetts, on April 6, 2005, for $300,000. He sold the home on October 6, 2012, for $320,000.
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