Monthly Archives: October 2012

The president of the retailer Prime Products has just approached the company’s bank with a request for a $30,000, 90- day loan

Problem 9-21 The president of the retailer Prime Products has just approached the company’s bank with a request for a $30,000, 90- day loan. The purpose of the loan is to assist the company in acquiring inventories. Because the company … Continue reading

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A partial trial balance of Dickinson Corporation is as follows on December 31, 2010

A partial trial balance of Dickinson Corporation is as follows on December 31, 2010. ____________________________________Dr.__________Cr. Supplies on hand___________________$ 2,500 Accrued salaries and wages_______________________ $ 1,500 Interest Receivable__________________ 5,100 Prepaid insurance___________________ 90,000 Unearned rent ___________________________________ -0- Accrued interest payable __________________________ 15,000 … Continue reading

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(Pension Expense, Journal Entries for 2 Years) Gordon Company sponsors a defined benefit pension plan

(Pension Expense, Journal Entries for 2 Years) Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2010 and 2011. 2010 2011 Plan assets (fair value), December 31 $699,000 $849,000 Projected … Continue reading

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