Business, 28.06.2021 16:50 allieballey0727
Sharp Company borrowed $480,000 on a 6% one-year, interest-bearing note dated October 2, 2017 with interest payable at maturity. The annual accounting period ends on December 31. Assuming that adjusting entries are only made at December 31, the company's fiscal year-end.
Required:
Prepare journal entries for each of the following dates:
a. November 1, 2014.
b. December 31, 2014.
c. October 31, 2015.
Answers: 1
Business, 21.06.2019 22:50, Zagorodniypolina5
Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.
Answers: 1
Business, 22.06.2019 15:20, alex12everett
Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.
Answers: 1
Business, 22.06.2019 16:00, anonymous1813
Winners of the georgia lotto drawing are given the choice of receiving the winning amount divided equally over 2121 years or as a lump-sum cash option amount. the cash option amount is determined by discounting the annual winning payment at 88% over 2121 years. this week the lottery is worth $1616 million to a single winner. what would the cash option payout be?
Answers: 3
Business, 22.06.2019 20:00, wallsdeandre6927
Richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.
Answers: 3
Sharp Company borrowed $480,000 on a 6% one-year, interest-bearing note dated October 2, 2017 with i...
Mathematics, 04.11.2020 20:40
Mathematics, 04.11.2020 20:40
Biology, 04.11.2020 20:40
History, 04.11.2020 20:40
Spanish, 04.11.2020 20:40
Mathematics, 04.11.2020 20:40