Entries for installment note transactions on the first day of the fiscal year, shiller company borrowed $71,000 by giving a six-year, 11% installment note to soros bank. the note requires annual payments of $17,060, with the first payment occurring on the last day of the fiscal year. the first payment consists of interest of $7,810 and principal repayment of $9,250. journalize the entries to record the following: a1. issued the installment note for cash on the first day of the fiscal year. if an amount box does not require an entry, leave it blank. a2. paid the first annual payment on the note. if an amount box does not require an entry, leave it blank. b. how would the notes payable be reported on the balance sheet at the end of the fiscal year?
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Business, 22.06.2019 15:30, jasonoliva13
Careers in designing, planning, managing, building and maintaining the built environment can be found in the following career cluster: a. agriculture, food & natural resources b. architecture & construction c. arts, audio-video technology & communications d. business, management & administration
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Business, 22.06.2019 19:10, jonmorton159
The stock of grommet corporation, a u. s. company, is publicly traded, with no single shareholder owning more than 5 percent of its outstanding stock. grommet owns 95 percent of the outstanding stock of staple inc., also a u. s. company. staple owns 100 percent of the outstanding stock of clip corporation, a canadian company. grommet and clip each own 50 percent of the outstanding stock of fastener inc., a u. s. company. grommet and staple each own 50 percent of the outstanding stock of binder corporation, a u. s. company. which of these corporations form an affiliated group eligible to file a consolidated tax return?
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Business, 22.06.2019 21:00, sofiaisabelaguozdpez
Roberto and reagan are both 25 percent owner/managers for bright light inc. roberto runs the retail store in sacramento, ca, and reagan runs the retail store in san francisco, ca. bright light inc. generated a $125,000 profit companywide made up of a $75,000 profit from the sacramento store, a ($25,000) loss from the san francisco store, and a combined $75,000 profit from the remaining stores. if bright light inc. is an s corporation, how much income will be allocated to roberto?
Answers: 2
Entries for installment note transactions on the first day of the fiscal year, shiller company borro...
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