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On april 1, 2010, west co. purchased $160,000 if 6% bonds for $166,300 plus accrue interest on available for sale security. interest is paid on july 1 and january 1 and the bonds mature on july 1, 2015.
a. Prepare the journal entry on april 1, 2010.
b. The bonds are sold on november 1, 2011 at 13 plus accrued interest. amortization was recorded when interest was received by the straight-line method. prepare all entries required to properly record the sale.
According to the Financial Executives Institute, one function of the treasurer is _____.
Prepare the entries to record sales and collections during the period. Prepare the entry to record the write-off of uncollectible accounts during the period.
Scot and Vidia, married taxpayers, earn $240,000 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their ave..
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Maris Co. purchased a machine on January 1, 2013, for $1,200,000 for the express purpose of leasing it. The machine is expected to have a five-year life, no salvage value, and be depreciated on a straight-line monthly basis.
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List some Accounting Information system (AIS) and Management information system.
Determine the number of equivalent units of production with respect to direct materials and conversion costs. Enter all amounts as positive numbers. If an amount is zero or a blank, enter in 0.
Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,200 of this balance is direct materials cost, how much of it is direct labor cost? Manufacturi..
Leister Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $15,540. All sales are subject to a 5% sales tax.
A company changes from straight-line to an accelerated method of calculating depreciation, which will be similar to the method used for tax purposes. The entry to record this change should include a
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