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Slipshod Machine Tool Co. owes $40,000 to one of its suppliers. The supplier has offered a trade discount of 2/10 net 30. Slipshod can borrow the funds from either of two banks: First City Bank will loan the funds for 20 days at a cost of $400; Upstart Bank offers a discounted loan for 20 days at a cost of $320.
a) What is the cost of failing to take the discount?b) What is the effective interest rate on each of the loans?c) Which alternative should Slipshod follow?
vantage company issued bonds with a 500000 face value and a 6 stated rate of interest on january 1 2013. the bonds
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How does the Congressional Budget Office "score" proposed changes to the income tax code?
1. define and explain the meaning of a predetermined manufacturing overhead rate that is applied in a job-order costing
sam and his sister blair both attend the state university. as a reward for their successful completion of the past year
1. Anna transferred land with an adjusted basis to her of $20,000 and a fair market value of $56,000 to Elm Corporation in exchange for 100% of Elm Corporation's only class of stock.
A corporation sold land (with an adjusted basis of $240,000) for $200,000 to its majority shareholder. (A) What is the company's recognized gain or loss on the sale?
palmiero purchased a patent from vania co. for 1258000 on january 1 2010. the patent is being amortized over its
Recording Capital Asset Transactions
At an activity level of 7,900 machine-hours in a month, Manchester Corporation's total variable maintenance cost is $430,550 and its total fixed maintenance cost is $417,120.
internal controls are required to safeguard assets and to ensure ethical business practices.1 identify and explain the
The fair value of the Treasury bonds is $104,000 at year-end.
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