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You and several classmates are studying for the next accounting examination. They ask you to answer the following questions:
1. If cash is borrowed on a $70,000, 9-month, 12% note on August 1, how much interest expense would be incurred by December 31?
2. The cash register total including sales taxes is $42,000, and the sales tax rate is 5%. What is the sales taxes payable?
3. If $42,000 is collected in advance on November 1 for 6-month magazine subscriptions, what amount of subscription revenue is earned by December 31?
If the current assets in 2010 were 112,004 and in 2009 the current assets were 113,030 the change is -1,026. That would mean the percent of change is -.009%. Is this correct? Can a percent of change be negative? If so, is this the proper way to wr..
Prepare the stockholders equity section of the balance sheet and Dwyer Corporation has issued 100,000 shares of $5 par value common stock.
kibodeaux corporation makes a product with the following standard costsstandard quality or hoursstandard price or
Prepare the statement of cash flows for the year ended December 31, 20X6, using the direct method, and include a schedule of noncash investing and financing activities if necessary.
mullineaux corporation has a target capital structure of 65 percent common stock 5 percent preferred stock and 30
If you received the utility bill for $400 but the bill is not due until the 15th of the following month how would you journalize them? What account would be debited and what would be credited?
Assuming the U.S. corporate tax rate is 35%, what are the U.S. tax consequences of Teny's Year 1 and Year 2 activities?
terry marks is a well-known architect. he wants to start his own business and convinces rob norris his cousin and a
1. Assume Co. A and Co. B are classified as available for sole investments, determine dollar amounts for each of the following. For balances, label the amount as either a "debit" or "credit" balance. For Income effects, indicate an increase as a "..
jose paid the following amounts for his son to attend big stateuniversity in 2008tuition 6000room and board 5000books
When a government sponsors an Investment Trust Fund the portion that belongs to other governments is reported as assets of the Fund but the portion belonging to the sponsoring government is not.
munch n crunch snack company is considering two possible investments a delivery truck or a bagging machine. the
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