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On may 1,2012 company purchased $66,000 of 5%,12 year lincoln company bonds at par two months accured interest. The bond pay interest on march 1 and septmber1. on october 1,2012,todd copany sold $24,000 of lincoln company bonds acquired on may 1. plus one month accured interest.on december 31,2012, four omnyhs interst was acuured for the remaining bonds. Determine the interst earned by todd company on lincoln company bonds for 2012.
Provide and show all answers and step by step work to obtain the answer, not skipping any steps. Show all equations, acronyms (ie ETC, ACWP, etc), and if applicable, a description of how you came to the answer.
A corporation issues $2,000 Shares of common stock for $32,000. The stock has a stated value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock for
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You will be asked to address a accounting failure from AMERICAN INSURANCE GROUP. Overview of the situation/accounting issue
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