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- Multiple choice: 62. A hospitality company is the maker of an $18,000 note to be paid in quarterlyinstallments of $3,000 each. The first payment is to be made on June 30. How willthe note be represented on the balance sheet for May 31?A. $18,000 long-term liabilityB. $3,000 expense, $15,000 long-term liabilityC. $3,000 expense, $9,000 current liability, $6,000 long-term liabilityD. $12,000 current liability, $6,000 long-term liabilityACC 122 Fall 2020Comprehensive ProjectBestValue Corporation's Trial Balance at December 31, 20XX is presented below.All 20XX transactions have been recorded except for the items described on the next page.Debit CreditCash $ 109,890Accounts Receivable 28,789Inventory 25,540Debt Investments 0Land 55,674Buildings 215,850Equipment 75,120Allowance for Doubtful Accounts $ 1,027Accumulated Depreciation-Buildings 63,306Accumulated Depreciation-Equipment 16,048Accounts Payable 35,278Interest Payable 0Unearned Rent Revenue 48,900Dividends Payable 0Income Tax Payable 0Bonds Payable 0Discount on Bonds Payable 0Common Stock ($2 par) 29,200Paid in Capital in Excess of Par-Common Stock 44,580Preferred Stock ($60 par) 0Paid in Capital in Excess of Par-Preferred Stock 0Retained Earnings 107,904Treasury Stock 0Cash Dividends 0Sales Revenue 776,068Rent Revenue 0Gain on Sale of Land 0Bad Debt Expense 0Interest Expense 0Cost of Goods Sold 478,542Depreciation Expense 0Other Operating Expenses 53,274Salaries…Question Content Area A $36,000, 60-day, 5% note, dated May 1, is received from a customer on account. Assume a 360-day year, the maturity value of the note is a. $36,000 b. $36,300 c. $37,800 d. $300
- JOURNAL Page 42 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Oct. 23 Administrative Salaries 51 2,307.69 Office Salaries 52 4,723.08 Sales Salaries 53 3,600.00 Plant Wages 54 5,219.60 FICA Taxes Payable - OASDI 20.1 982.72 FICA Taxes Payable - HI 20.2 229.84 Employees FIT Payable 24 871.00 Employees SIT Payable 25 486.63 Employees SUTA Payable 25.1 9.50 Employees CIT Payable 26 613.60 Group Insurance Premiums Collected 27 182.10 Union Dues Payable 28 16.00 Payroll Cash 12 12,458.98 23 Payroll Taxes 56 1,395.19 FICA Taxes Payable - OASDI 20.1 982.72 FICA Taxes Payable - HI 20.2 229.83 FUTA Taxes Payable 21 3.72 SUTA Taxes Payable - Employer 22 178.92 Nov. 4 Employees SIT Payable 25 486.63 Cash 11 486.63 6 Union Dues…Auditing || fall20 Dashboard My courses ACCT4141_iram_fall20 WEEK 7: 25 OCTOBER - 31 OCTOBER Case study 2 Separate groups: 5 My Submissions Case 2 Title Start Date Due Date Post Date Marks Available Case study 2 - Case 2 27 Oct 2020 - 08:00 28 Oct 2020 - 06:00 28 Oct 2020 - 19:00 100 Summary: On Chapters 9, 10, and 11: The YuRaeKa charity was established in 1960. The charity’s aim is to provide support to children from disadvantaged backgrounds who wish to take part in sports such as tennis, badminton, squash, basketball and football. YuRaeKa has a detailed constitution[1] which explains how the charity’s income can be spent. The constitution also notes that administration expenditure cannot exceed 10% of income in any year. The charity’s income is derived wholly from voluntary donations. Sources of donations include: (i) Cash collected by volunteers asking the public for donations in shopping areas, (ii) Cheques sent to the charity’s head office, (iii) Donations…QUESTION 1 The trial balance of The Parker Exclusive Mens Clubs at 31th May 2020 is as follows GHSAccumulated fund (1/06/2019)23364000Massage Palour inventory at beginning (1/06/2019)4455000Massage Palour Purchases8382000Building (Cost)21153000Equipment (Cost)2640000Furniture and fittings (Cost)1650000Subscriptions1980000Affiliation Fees247500Savings Account5610000Venue of the "Weekend in Paradise Trip" 115500Executive Mens Club Entrance fees198000Massuer's Wages and Salaries825000Accumulated Depreciation Building 8461200Equipment 660000Furniture and Fittings 165000Salaries792000Rent 316800"Weekend in Paradise Trip" expenses198000Administrative expenses574200Interest on Savings account313500Sale of "Weekend in Paradise Trip" tickets2508000Bank account (Current)4125000Donation for "Weekend in Paradise Trip"610500Revenue from Massage Palour12540000Life membership fees610500Utilities326700102821400Additional Information1. Massage Palour inventory (31st May 2020)8910002. Subscription paid…
- 37 A company has the following loans in place throughout the year ended 31 December 2014. GHSm 10% bank loan 140 8% bank loan 200 On 1 July 2014 GHS50m was drawn down for construction of a qualifying asset which was completed during 2015. What amount should be capitalised as borrowing costs at 31 December 2014 in respect of this asset? A GHS5.6m B GHS2.8m C GHS4.4m D GHS2.2mD1 Retention: 50%, D7 Retention: %20, D30 Retention: 8% Interstitial Impressions per DAU: 4, Rewarded Impressions per DAU: 2 Interstitials eCPM: $30, Rewarded eCPM: $50 1) What is day 7 ARPU? 2) How would you estimate d30 ARPU?Problem 24-03 a Splish Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Splish and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2021, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $34,980 notes, which are due on June 30, 2021, and September 30, 2021. Another note of $6,060 is due on March 31, 2022, but he expects no difficulty in paying this note on its due date. Brown explained that Splish’s cash flow problems are due primarily to the company’s desire to finance a $298,500 plant expansion over the next 2 fiscal years through internally generated funds.The commercial loan officer of Topeka National Bank requested the following financial reports for the last 2 fiscal years. Splish CorporationBalance SheetMarch 31 Assets 2021 2020 Cash…
- Item5 10points eBook Print References Check my workCheck My Work button is now enabled3 Item 5 On January 1, 2021, The Barrett Company purchased merchandise from a supplier. Payment was a noninterest-bearing note requiring five annual payments of $22,000 on each December 31 beginning on December 31, 2021, and a lump-sum payment of $120,000 on December 31, 2025. A 12% interest rate properly reflects the time value of money in this situation. ((FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)Required:Calculate the amount at which Barrett should record the note payable and corresponding merchandise purchased on January 1, 2021. (Round your final answer to nearest whole dollar amount.)$9,334 principal, 8.1% ordinary, 84 days (Ordinary Interest is 360 days) Find simly interest earn. Show workCHOICES: ₱24,000 ₱ 3,000 ₱22,000 ₱ 2,000
