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1. Coates Inc. issues $3 million, 5-year, 10% bonds at 102, with interest payable on July 1 and January 1.The straight-line method is used to amortize bond premium.
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2010.
(b) Prepare the journal entry to record interest expense and bond premium amortization on July 1, 2010, assuming no previous accrual of interest.
Emmy would like to organize PRK as a C corporation with herself as sole shareholder. Emmy expects PRK to generate $15,000 annual income before paying Emmy's salary. Individual ordinary rates are 25 percent, corporate rates are 15 percent, and individ..
direct method and overhead ratesdelille company manufactures both traditional toothpaste and gel tooth paste with each
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the central valley company is a merchandising firm that sells a single product. the companys revenues and expenses for
An industrial machine requires an emer- gency shutoff switch that must be designed so that it can be easily operated with either hand. Design an experiment to find out whether workers will be able to deactivate the ma- chine as quickly with their ..
Has the recent drop in airplane passengers resulted in better on-time performance? Before the recent economic downturn, one airline bragged that 92% of its flights were on time. A random sample of 165 flights completed this year reveals that 153 w..
Acme, Inc. is evaluating a new project to produce rockets. The project will involve $500,000 to purchase a new machine. Every year, Acme will need to spend $10,000 to keep the machine running and the revenue is $195,000 per year by selling the rocket..
A person owned 300 shares of MNO common stock, which cost $23,400. MNO then had a 3-for-1 stock split. After the split, the person sold 100 shares for $5,600. How much gain (or loss) resulted from the sale?
av city stocks and sells a particular brand of laptop. it costs the firm 625 each time it places an order with the
1.At the beginning of 2011, Robotics Inc. acquired a manufacturing facility for $12 million.
what is the difference between earnings management and the types of frauds and scandals companies have been doing in
J&J sells its toothpaste to a wholesaler
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