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On August 31, Latty Co. partially refunded $450,000 of its outstanding 10% note payable made one year ago to Dugan State Bank by paying $450,000 plus $45,000 interest, having obtained the $495,000 by using $131,000 cash and signing a new one-year $400,000 note discounted at 9% by the bank. Make the entry to record the partial refunding. Assume Latty Co. makes reversing entries when appropriate. Prepare the adjusting entry at December 3, assuming straight-line amortization of the discount.
the following facts apply to the pension plan of boudreau inc. for the year 2012.plan assets january 1
outdoor charlies is introducing a new fishing pole and is trying to decide what to charge for it. the company has
For the tax year, Susan had salary income of $19,000. In addition, she reported the following capital transactions: Long-term capital gain $2,000; Short-term capital gain $4,000; Long-term capital loss -$7,000; Short-term capital loss -$3,000. The..
paramount trading co. sells watches to retailers with the right of return. based on past experience paramount estimates
Provide the necessary journal entries to record the transactions for Wilcox for the period January 2, 2011 through December 31, 2012.
division w of comer company has sales of 840000 cost ofgoods sold of 500000 operating expenses of 256000 andinvested
the following is a list of steps in the accounting cycle.a. post to the ledgerb. close the accountsc. analyze
diston company uses the weighted-average method in its process costing system. the first processing department the
acc305 the colorado company manufactures a product acc305 managerial accounting tco f the colorado company manufactures
harrisburg company which began business in early 20x7 reported 40000 of accounts receivable on the december 31 20x7
Compute the net cash provided by operating activities
intermediate accounting questions1nbspnbspnbsp estimating inventorythe following data was available when you are able
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