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Sun Inc assigns $2,000,000 of its accounts receivables as collateral for a $1 million 8% loan with a bank. Sun Inc. also pays a finance fee of 1% on the transaction upfront. What would be recorded as a gain (loss) on the transfer of receivables?
explain the ways in which the needs of internal and external users of accounting information are the same and
The following checks were outstanding: no. 94, 121.16; No.96, 106.30; no. 99, 64.84. A deposit of 765.69 was not recorded on Donna's bank statement. Her checkbook shows a balance of 806.94. Prepare Donna's bank reconciliation.
What are some significant provisions of the Sarbanes-Oxley Act of 2002? Do any of you have to comply with these standards? - Answer 100-250 words.
SIMCO Commercial Corporation (SCC) is located in Godalming, United Kingdom (U.K.). SCC is owned by an investment group located in London and all corporate functions are performed in Godalming.
Use of auditor judgment or of a risk matrix is necessary in revising planned detection risk whenever
The primary accounting standard-setting body in the United States is the:
How much will a firm need in cash flow before tax and interest to satisfy debtholders and equityholders if: the tax rate is 35%, there is $13 million in common stock requiring a 10% return, and $6 million in bonds requiring an 6% return?
What is the difference between accural-basis accounting and cash-basis accounting? Why would politicians prefer the cash basis over the accrual basis?
At May 5, 2011, MacDougal's common stock was quoted at $34 per share, and the patent had a carrying value of $55,000 on Masset's books. MacDougal should record the patent at.
What is the net present value of a project with the cash flows, if the discount rate is 10 percent - How long will it take the firm to recover its initial investment in this project?
the following list in alphabetical order shows the various items that regularly appear on the financial statements of
black diamond inc. issues 2500 shares o 1 par value common stock and 1000 shares of 50 par value preferred stock for a
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