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On November 1, 2015, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at discount for $191,000, and make semiannual payments on April 30 and October 31. At December 31, 2015, Archangel made an adjusting entry to accrue interest at year end. No further entries were made until April 30, 2016 when the first interest payment was made. How much interest expense will be recorded for the period of January through April, 2016?
Journal entries for equity securities for Capriati Corp in 2012, their first year of business, including unrealized gains or losses in 2012:
What do you think is George Bush's desired conclusion? Make sure to include the computations of income. How can the discrepancies in parts (a) and (b), and the motivation difficulties in part (c) be diminished?
A company has $8,200 in net sales, $1,100 in gross profit, $2,500 in ending inventory, and $2,000 in beginning inventory. The company's cost of goods sold is?
kenwood, Inc, uses a predetermind overhead rate based on direct laboor- hours to apply manufacturing overhead to jobs. at the beginning of the year.
Net income is $29,000. Beginning capital balance was $34,000. Ending capital balance was $55,000. No capital contributions were made by the owner during the year. What amount of drawings was made?
Cooper Co. issued 5,000 shares of its $5 par value common stock in exchange for a tract of land owned by Wallowitz Inc. Wallowitz had originally listed the land for sale at $165,000. The stock price on the exchange date was $30 per share. How much..
Relate your explanation to the audit functions in your organization, or an organization with which you are familiar.
How much should the town report as property tax revenue in its General Fund statements for the year 2009?
Which two components of internal control must management assess when reporting on internal control to comply with Section 404 of SOX?
The Rushing Construction Company obtained a construction ontract to build a highway and bridge over the Snake River It was estimated at the biginning of the contract that it would take three years to complete the project at an expected cost of $50..
TRM Corporation established a defined benefit pension plan in Year 5. In Year 8 the following information is available. Service cost = $45,000. Interest cost = $60,000.
Prepare an appropriate journal entry to indicate the impact of the transactions on the state's fund financial statements for the year ending December 31, 2011.
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