Week4Indv - Week4IndividualExercises YanaAyrapetyan

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Week 4 Individual Yana Ayrape Accounting Transact Acc/281 November 1
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l Exercises  etyan tion Analysys  1 ,2010
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be expected to be paid in one year. Is Jill correct? Explain. Yes this is correct, current liability is placed on the balance sheet as a sum of money owed by a c a 9%, 6-month, $40,000 note payable to First Bank on July 1. Frederickson’s fiscal year ends on September 30.What information should be reported for the note payable in the annual financial statements? The information that should be on the financial statement is what they have earned for the ending 1.  Jill Loomis believes a current liability is a debt that can 2.  Frederickson Company obtains $40,000 in cash by signing
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company that is due with in a year.  g fiscal year and that is the payment for the fist 3 months.
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E11-12 Deng Company issued $500,000 of 5-year, 8% bonds at 97 on January 1, 2008. The
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This note was uploaded on 11/08/2010 for the course ACCT 281 taught by Professor Shelburn during the Fall '10 term at University of Phoenix.

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Week4Indv - Week4IndividualExercises YanaAyrapetyan

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