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On January 1 2015 Acme company issued 100 ($1000 par) 6 % semi-annual 9 year convertible bonds when the market rate of interest was 8 %
A) make the journal entry on 1/1/15 when acme issued the bonds
B) make the journal entry ACME makes on 6/30 when it makes its first interest payment (amce uses effective interest method)
Consider the following statements regarding traditional costing systems: Many traditional costing systems: The relationship between cost and activity is termed: Which of the following costs changes in direct proportion to a change in the activity lev..
Preparing the trial balance, it is learnt that Mr.X a debtor has becomeinsolvent and nothing could be recovered from him and, therefore the entireamount of Rs.5,000 due from him was irrecoverable.
Suppose you are an accountant for a large retail company. At the end of the quarter, the General Manager (GM) tells you: “Our sales are slightly below forecast and we will not make our bonus this quarter. What would the ethical issues be with reporti..
Identify the core functions of each department, their strengths and weaknesses, and make recommendations for improvement, as appropriate
schedule of cash collections sugarland company sells a single product and anticipates opening a new facility in
The following transactions took place for Parker’s Grocery and Prepare the journal entries that Parker's Grocery would record for the above transactions.
Assume that the company normally is not required to pay a bank service charge if it maintains a minimum average daily balance of $ 1,000 throughout the month. If the company’s average daily balance for December had been $ 8,000, why did it have to..
Determine the unit product cost of each product for the current period using the activity-based costing approach.
As part of the audit, you must assess the operating effectiveness of controls related to the misstatement. Illustrate what additional information, if any, is needed to complete your assessment?
Determine the net credit and collection expense in dollars and as a percentage of sales after considering the revenue not earned from other investment opportunities.
XYZ Company uses a job order costing system and has established a pre-determined overhead rate of 150% of direct labor cost. Job #231 was charged with direct materials of $20,000 and with overhead of $18,000. Assume XYZ Company prices its jobs at 40%..
Journalizing the transactions involving stock issues and purchases - Journalize the transactions for Garner Corporation.
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