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In January 1, Year 2017, Kennard Co. issued $2,000,000, 5%, 10-year bonds, with interest payable on June 30 and December 31 when the market rate of interest for similar bonds was 6%. Use the following format and round figures to the nearest dollar.
1. Actual proceeds received from the issuance of the bonds.
2. Amortization schedule for Year 1 and Year 2 using the effective interest rate method.
Date Cash Paid Interest Expense Amortization Bond Carry Value
3. Show how this bond would be reported on the balance sheet at December 31, Year 2.
Meyers Corp. has annual revenues of $450,000, an average contribution margin ratio of 35%, and fixed expenses of $175,000. If 15,000 units of the new product could be sold at a price of $16.00 per unit, and the company's other business did not change..
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question charles austin of the controllers office of thompson corporation was provided the assignment of evaluating the
Linda owns land with an adjusted basis of $250,000, subject to a mortgage of $50,000. Real estate taxes are $12,000 per calendar year and are payable on December 31. On July 1, 2016, Linda sells her land subject to the mortgage for $300,000 in cash, ..
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