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Garr Co. issued $5,000,000 of 12%, 5-year convertible bonds on December 1, 2010 for $5,020,800 plus accrued interest. The bonds were dated April 1, 2010 with interest payable April 1 and October 1. Bond premium is amortized each interest period on a straight-line basis. Garr Co. has a fiscal year end of September 30.
On October 1, 2011, $2,500,000 of these bonds were converted into 35,000 shares of $15 par common stock. Accrued interest was paid in cash at the time of conversion.
Short Term Financial Policy
Linda is a qualifying tax widow in 2010. In 2010, she reported $75,000 of taxable income (all ordinary). What is her gross tax liability using the tax rate schedules?
Discuss how the authoritative literature addresses comprehensive income. Define three classifications within net income and give an example of each.
Partners share the economic risk of loss from recourse liabilities in the same way they share partnership losses. Kasi's basis in the partnership interest is:
Diane purchased a factory building on November 15, 1993, for $5,000,000. She sells the factory building on February 2, 2012. What is the cost recovery deduction for the year of the sale?
Buckman Corporation issued bonds with a face value of $800,000 on April 1, 2008. The bonds pay interest semi-annually at a coupon rate of 10% per year and the due date of the bonds is April 1, 2014. The market rate is 8% per year.
Which of the following does the FASB consider a source of nonauthoritative guidance for use then there is no authoritative guidance available?
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Providing language and cultural training for employees is big business. If you were going to write a class on how language affects intercultural business communications, what would your lesson plan look like?
If the East territory is discontinued, one sales manager (whose salary is $40,000 per year and is part of the fixed costs) will be relocated to the West territory. By how much would Green's income change if the East territory is eliminated? Recast..
What is the amount of purchased differential amortization included in the calculation of investment income on Schneide's book in 2005 and 2006?
What is the amount of the loss on impairment that Beehive should recognize at June 30, 2006?
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