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West County Bank agrees to lend Drake Builders Company $100,000 on January 1. Drake Builders Company signs a $100,000, 6%, 6-month note. What is the adjusting entry required if Drake Builders Compa
Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Stallman report as its December 31 inventory?
The actual cost for plane operating costs in September was $214,430. The activity variance for plane operating costs in September would be closest to:
The Inn's variable overhead costs are driven by the number of guests. What would be the total budgeted overhead cost for a month if the activity level is 70 guests?
Steckelberg Inc. produces and sells a single product. The selling price of the product is $150 per unit and its variable cost is $54 per unit. The fixed expense is $154,560 per month. what is the br
Assuming the agreemet meets the criteria for a capital lease under the provisions of SFAS No. 13, make the entries required in (1) the capital projects fund and (2) the debt service fund on July 1,
Apple Co. sells merchandise on credit to Zea Co. in the amount of $8,000. The invoice is dated on September 15 with terms of 1/15, net 45. What is the amount of the discount, and up to what date mus
Sean Corp. issued a $40,000, 10-year bond, with a stated rate of 8 percent, paid semiannually. How much cash will the bond investors receive at the end of the first interest period?
Pete's Parlor started a business January 1, 20xx. During January, Pete sold watches costing the company a total of $34,000 to produce. Prepare the Journal Entry for this transaction.
First City Bank computes interest semiannually. If the interest rate is currently 6 percent, the amount deposited today should be multiplied by which future value factor to calculate the amount that
Compute the following values. (Round current ratio and times interest earned to 2 decimal places, e.g. 2.15 and all other answers to 0 decimal places, e.g. 2,500.)
When a note payable us issued for property, goods and services, the present value of the note is measured by
Cash balance at the beginning of the period, what is cash balance at the end of the period ?
1. Allocate the $400,000 joint cost to solvents A and B by the physical-units method. 2. Allocate the $400,000 joint cost to solvents A and B by the relative-sales-value method.
Domestic unit sales price $21 Unit; manufacturing costs: consists of Variable costs of $12 and Fixed costs of $5. What is the differential revenue from the acceptance of the offer
Oxford's tax depreciation exceeded its book depreciation by $40,000. Oxford's tax rate for 2010 and years thereafter is 30%. In its December 31, 2010 balance sheet, what amount of deferred tax liabi
January 1 finished goods, $765,000; December 31 finished goods, $640,000; cost of goods sold for the year, $2,560,000. what is the budgeted costs of goods manufactured for the year ?
ADH uses the percentage-of-completion method to recognize revenue. What would be the journal entry made in 2008 to record revenue?
If you do an NPV analysis assuming a 14 percent discount rate, which proposal is less expensive?What happens if you use an eight percent rate?
The seller prepays the freight costs of $85 (debit Freight Out for the freight costs). Prior to payment for the goods, the seller issues a credit memo for $750 to the customer for merchandise costin
It takes about 5 working days for an order to arrive from the supplier and during this time the demand per week for the product is approximately 80.
1. What effects does stock-based compensation have on the financial statements of an entity? 2. How does this affect the investor's opinion of a company?
The State of Adaven issued $50 million of perpetual bonds in 1990. The bonds were issued in $100 denominations with an annual coupon interest rate of 5%. Determine the value of these bonds today to
The company issues 100 shares of common stock to its attorneys for costs associated with starting the company. At that time, the company stock was selling at $60 per share. Use the $5 stated value i
Madison Industries uses the straight-line depreciation method. One asset had been purchased for $9,000. Annual depreciation expense was $800 after considering a residual value of $1,000. What was th