GB518

Problem 10-02A Oriole Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2022, Oriole had the following transactions related to notes payable. Sept. 1 Issued a $13,200 note to Pippen to purchase inventory. The 3-month note payable bears interest of 6% and is due December 1. (Oriole uses a perpetual inventory system.) Sept. 30 Recorded accrued interest for the Pi

Assignment A.Assume you are the president of High Power Corporation. At the end of the first year of operations (December 31), the following financial data for the company are available:     Accounts Payable $ 34,000   Accounts Receivable   12,400   Cash   15,200   Common Stock   60,990   Dividends   2,140   Equipment   98,000   Notes Payable   2,390   Operating Expen