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Desrocher Ltd. issued an instalment note on January 1, 2014 (with a required yield of 9%), in exchange for land that it purchased from Safayeni Ltd. Safayeni's real estate agent had listed the land on the market for $120,000. The note calls for three equal blended payments of $43,456 that are to be made at December 31, 2014, 2015, and 2016. A)Prepare an effective-interest amortization table for the instalment note for the three-year period.
Q. Need for adjusting entries? The income statement of business information all revenues earned and all expenses incurred to generate those revenues during a given period. An i
Weston Corporation manufactures a product that is available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced
Q. Modifying conventions on Materiality? The Materiality is a modifying convention that permits accountants to deal with immaterial (unimportant) items in an expedient however
what are the disadvantages of just-in-time?
Received and paid the telephone bill for $231 including GST
Q. What do you mean by note? A note is an unqualified written promise to pay another party the amount owed either when demanded or at a certain specified date habitually with i
How do you do journal entries for an item bought on credit and then later returned and the total selling price was 4,275.
Q. Advantages and Disadvantages of FIFO? FIFO: Advantages (a) FIFO is easy to apply (b) the assumed flow of costs habitually corresponds with the normal physical flow of goods
Write short notes on 5 modern accounting techniques
Q. What do you mean by Equities? Assets were described earlier as the things of value owned by the business or the economic resources of the business. Equities are every claims
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