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Bayside Corporation began 2014 owing notes payable of $3.5 million. During 2014 Bayside borrowed $1.7 million on notes payable and paid off $1.6 million of notes payable from prior years. Interest expense for the year was $0.7 million, including $0.1 million of interest payable accrued at December 31, 2014.
Show what Bayside should report for these facts on the following statements
1. Income statement for 2014a. Interest expense
2. Balance sheet as of December 31, 2014a. Notes payableb. Interest payable
a. jayantha commenced business on 1 january 2010 with equity of 100000. during the year ending 31 december 2010 he paid
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Merchandise Inventory. Describe the inventory valuation methods FIFO and LIFO. Which items are included in ending inventory under each method?
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Other operating costs equaled $80,000 and their tax rate is 30%. Round final answers to the nearest dollar. What was ending inventory and cost of goods sold on 12/31 under the LIFO cost flow assumption?
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Choose companies in which you are interested. Perhaps the company has been featured in the news lately. Perhaps you own stock in the company. Perhaps you would like to own stock in the company.
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