What is the amount of interest expense
On September 1, 2011, Donna Equipment signed a one-year, 8% interest bearing note payable for $50,000. Assuming Donna maintains its books on a calendar year basis, the amount of interest expense that should be reported in the 2012 income statement?
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A company had a $56,000 unfavorable direct material efficiency variance during a time period when the standard rate per pound of direct material was $7 and the actual rate per pound of direct material was $7.50.
The bookkeeper for Andy's Country Music Bar went insane and left this incomplete balance sheet. Andy's working capital is $95,000 and its debt to assets ratio is 40 percent.
Ginvold Co. began operating a subsidiary in a foreign country on January 1, 2013 by acquiring all of the common stock for §50,000.
Hammond Corporation reported the following operating results for two consecutive years.
On September 1, 2011, Donna Equipment signed a one-year, 8% interest bearing note payable for $50,000. Assuming Donna maintains its books on a calendar year basis, the amount of interest expense that should be reported in the 2012 income statemen
Revenue and expense data for Martinez Company are as follows: 2012 2011 Administrative expenses $37,000 $20,000 Cost of goods sold 350,000 320,000 Income tax 40,000 32,000 Net sales 800,000 700,000 Selling expenses 150,000 110,000
Provide a draft sexual harassment policy that is in compliance with the latest Supreme Court decisions.
For 2008, Orchard Corporation reported after-tax net income of $5,800,000. During the year, the number of shares of stock outstanding remained constant at 10,000 of $100 par, 9 percent preferred stock and 400,000 shares of common stock.
Describe when revenue should be recognized by each company. If revenue should not be recognized at the time of sale, indicate what method should be used to recognize the revenue. Justify your decision.
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