Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question 1-Alma's Company issued $400,000 face value of 18 percent, 20-year junk bonds on 2010 October 1. The bonds are dated 2010 October 1, call for semiannual interest payments on April 1 and October 1, and are issued to yield 16 percent (8 percent per period). a) Compute the amount received for the bonds. b) Prepare an amortization schedule. Enter data in the schedule for only the first two interest periods. Use the interest method and make all calculations to the nearest dollar. c) Prepare entries to record the issuance of the bonds, the first six months interest on the bonds, and the adjustment needed on June 30, 2011, assuming the company's fiscal year ends on that date. Question 2-Brook Company acquired 75 percent of the outstanding voting common stock of Casey Company for $1,444,800 cash on January 1, 2011. The investment is accounted for under the equity method. During 2011, 2012, and 2013, Casey Company reported the following: Year Net income/(loss) Dividends Paid 2011 $357,840 $290,640 2012 ($45,360) -0- 2013 $108,360 $72,240 1. Prepare general journal entries to record the investment and the effect of the subsidiary's income, losses, and dividends on Brook Company's accounts 2. Compute the balance in the investment account as of December 31, 2013.
Prepare a Schedule of Expected Cash Collections for November and December. Prepare a Merchandise Purchases Budget for November and December.
What are the limitation,uniqueness and two illustration of bank reconciliation.
smitty museum purchased the copyright to a piece of artwork for 922000. smitty plans to reproduce 1.8 million posters
Analyze the primary way in which Emerging Issues Task Force (EITF) influences Generally Accepted Accounting Principles (GAAP). Based on your analysis, recommend one (1) improvement that the EITF could take in order to more effectively influence..
jerry works in the human resources department at ajax corporation. one of his responsibilities is to interview
measuring and recording pension expense.presented below is information related to the pension plan of zimmer inc. for
robinson inc. had outstanding 5067000 of 11 bonds interest payable july 31 and january 31 due in 10 years. on july 1 it
rci inc. is a decentralized organization with four autonomous divisions. the divisions are evaluated on the basis of
nevin company makes three products in its factory plastic cups plastic tablecloths and plastic bottles. the expected
investment cash flows of 3135 3460 and 3820 at the end of years 1 2 and 3 respectively. if he can earn 7.5 percent on
What amount of bad debts expense will Hamilton Company report if it uses the direct write-off method of accounting for bad debts?
what is meant by the evaluation of a clients ability to continue as a going concern? what are some situations that
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd