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Rentoul Inc. made two sales.It sold land having a fair value of $900,000 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,416,163. The land is carried on Rentoul's books at a cost of $590,000. 2. It rendered services in exchange for a 3%, 8-year promissory . Rentoul Inc. recently had to pay 8% interest for money that it borrowed from British National Bank. The customers in these two transactions have credit ratings that require them to borrow money at 12% interest. Record the two journal entries that should be recorded by Rentoul Inc. for the sales transactions above that took place on July 1, 2012.
The company has 10 million shares of stock outstanding. What is the best estimate of the stock's price per share? show your calculation.
Wait time to the start of production 5.0 days, Delivery Cycle time 18 days, Move time 3.0 days, Inspection time 2.5 days, Queue Time during the production process 3.5 days.
Of all the business processes in the Accounting Information Systems (AIS), which do you think is the hardest to control and why? Be specific in your discussion of internal controls.
On January 3, 2011, Jenkins Corp. acquired 40% of the outstanding common stock of Bolivar Co for $1,200,000. This acquisition gave Jenkins the ability to exercise significant influence over the investee.
Why have management consulting operations created problems for the public accounting industry? How has SOX affected these problems?
which of the following statements concerning users of accounting information is incorrect?management is considered an
what we know charlie sells around 12 cases of hamburgers weekly. each case contains 80 hamburgers. each hamburger patty
Prepare an income statement in the contribution margin format. For simplicity, assume that the Jindal began and ended the year with zero inventories of any kind.
The balance in the investment account is $59,000 at the time of the change, and accountants working with company records determined that the balance would have been $94,000 if the account had been adjusted for investee net income and dividends as ..
the bootsie holding company has sales exceeding 10 billion and each of its three wholly-owned subsidiaries has sales
the following data were taken from the balance sheet accounts of wickham corporation on december 31 2012.current
In the current year, Teal Corporation becomes insolvent and is declared bankrupt. During the corporation's existence, Emily was paid an annual salary of $60,000. How should she treat her losses for tax purposes?
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