At January 1, 2018, Brainard Industries, Inc., owed Second BancCorp $13 million under a 10% note due December 31, 2020. Interest was paid last on December 31, 2016. Brainard was experiencing severe financial difficulties and asked Second BancCorp to modify the terms of the debt agreement. After negotiation Second BancCorp agreed to: a. Forgive the interest accrued for the year just ended.
b. Reduce the remaining two years' interest payments to $1 million each and delay the first payment until December 31, 2019.
c. Reduce the unpaid principal amount to $11 million.

Required:
Prepare the journal entries by Brainard Industries, Inc., necessitated by the restructuring of the debt at (1) January 1, 2018; (2) December 31, 2019; and (3) December 31, 2020.

Jurvin enterprises is a manufacturing company that had no beginning inventories. a subset of the transactions that it recorded during a recent month is shown below. $76,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. of this amount, $66,300 was for direct materials and the remainder was for indirect materials. total labor wages of $151,700 were incurred and paid. of this amount, $134,300 was for direct labor and the remainder was for indirect labor. additional manufacturing overhead costs of $126,300 were incurred and paid. manufacturing overhead of $126,800 was applied to production using the company's predetermined overhead rate. all of the jobs in process at the end of the month were completed. all of the completed jobs were shipped to customers. any underapplied or overapplied overhead for the period was closed to cost of goods sold. required: 1. post the above transactions to t-accounts.2. determine the cost of goods sold for the period.

One pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be:

Which best describes what financial planning skills ultimately enable an individual to do? to prepare for the future to determine lifetime income to determine the cost of living to learn from the past