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On Nov. 15 2010, Betty corp accepted a not receivable in place of an outstanding accounts receivable in the amount 138,460. The note is due in 90 days and has interest rate of 7.5%.
What would you expect to be the market price of the bonds, assuming that they are freely traded. Is there an economic benefit for the hospital to refund the existing debt by acquiring it at market p
Jan. 1 Retired a piece of machinery that was purchased on January 1, 2002. The machine cost $62,000 and had a useful life of 10 years with no salvage value.
Information regarding the note payable: The note payable will be due in full in five years. Interest is payable annually. The interest rate on the note is 5%.
The Alpha Division of the XYZ Company manufactures product X at a variable cost of $40 per unit. Alpha Division's fixed costs, which are sunk, are $20 per unit. The market price of X is $70 per unit
The IRS mailed a notice of deficiency to Carlos on November 1, 2005, disallowing the $9.5 million capital loss. Carlos filed a petition in the United States Tax Court, and the case has been staye
In 1990, brothers Peter and Mitchell jointly bought a warehouse that they rented out to commercial tenants. The total cost for the warehouse was $200,000.
The Backus Inc. cash account had a balance of $1,092 on March 31. This included a bank deposit for $172 that was in transit on the 31st. The March 31 bank statement contained the following informati
Dold Acrobats lent $16,529 to Donaldson, Inc., accepting Donaldson's 2-year, $20,000, zero interest-bearing note. The implied interest rate is 10%.
On September 15,20X2, Wall Company , a U.S. firm, purchased a piece of equipment from a foreign firm for 500,000 in foreign currency. Payment for the equipment was to be made in foreign currency on
A department had 12,500 units which were 20% complete in beginning Goods in Process Inventory. During the current period 60,000 units were transferred in.
Cash 41,000,supplies 1,200,prepaid insurance 8,900,land 80,000,equipment 120,000 less accumulated depreciation 42,200 these are the assets .liabilities are accounts payable 14,600.
At the beginning of the year, Addison Company's assets are $300,000 and its equity is $100,000. During the year, assets increase $80,000 and liabilities increase $50,000. What is the equity at the
Suppose the Baseball Hall of Fame in Cooperstown, New York, has approached Sports-Cardz, Inc., with a special order. The Hall of Fame wishes to purchase 50,000.
XYZ Company applies overhead to products using a pre-determined rate of 125% of direct labor cost.Conversion costs for 2009 were equal to 180% of prime costs for 2009.
You have just been appointed as the auditor of Gritty Manufacturing Ltd and you are in the process of planning your first audit. Gritty manufactures security cameras and is a part of the electronics
On Februrary 18,2011, Union Corporation purchased 10,000 shares of IBM common stock as a long-term investment at $60 per share. On December 31, 2011, and December 31, 2012, the market value of IBM s
Gordon Company produces two types of gears, Gear Q and Gear S, with unit contribution margins of $2 and $5, respectively. Each gear must spend time on a special machine
On January 1, 2008, Jeremiah Corporation had 40,000 of $12 par value common stock outstanding. On June 1, 2008, Jeremiah Corporation issued 10,000.
Bee Company purchased 70% of Apple Corporation for $350,000 on January 1, 2008. On May 30, 2008 Apple Corporation declared total dividends of $42,000.
Recently, a company approached Rippey Corporation about buying 1,000 units for $225. Currently, the Models are sold to dealers for $412.50.
On January 1, 2006, the Sepe Delivery Company purchased a delivery van for $33,000. At the end of its five-year service life, it is estimated that the van will be worth $4,000.
The question says "Juan has an option of recieving an immediate bonus of 40,000 or a deferred bonus of 75,000 payable in 10 years assuming a relevant interest rate of 8% which form of settlement s
What is the proper adjusting entry at December 31, the end of the fiscal year, based on supplies account balance before adjustment of $5,200, and supplies inventory on December 31 of $1,200?
Assume that only 250 persons attended the Extravaganza last year. If the same number attend this year, what price per ticket must be charged to break even?