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1. (Issuance of Bonds between Interest Dates, Straight-Line, Retirement) Presented below are selected transactions on the books of Simonson Corporation. May 1, 2010 Bonds payable with a par value of $900,000, which are dated January 1, 2010, are sold at 106 plus accrued interest. They are coupon bonds, bear interest at 12% (payable annually at January 1), and mature January 1, 2020. (Use interest expense account for accrued interest.) Dec. 31 Adjusting entries are made to record the accrued interest on the bonds, and the amortization of the proper amount of premium. (Use straight-line amortization.) Jan. 1, 2011 Interest on the bonds is paid. April 1 Bonds of par value of $360,000 are called at 102 plus accrued interest, and retired. (Bond premium is to be amortized only at the end of each year.) Dec. 31 Adjusting entries are made to record the accrued interest on the bonds, and the proper amount of premium amortized.
Demonstrates a situation in which a company's net profits appeared good in the statements, but the gross or operating profits presented a different picture. Discuss how this might have occurred.
Record the two journal entries that should be recorded by McLean Company for the two purchases on January 1, 2011. Record the interest at the end of the first year on both notes using the effective-interest method.
kind meek and clean attorneys-at-law specialize in three areas criminal civil and family law. when specifications for
which of the following circumstances most likely would cause an auditor to suspect an employee payroll fraud scheme?a
Describe three issues/problems that a company could encounter when trying to determine the actual cost of a good or service to be used in the cost of goods sold. For each of your issues, provide an example of a company or industry where these issu..
on january 1 2010 you had in supplies inventory 1200. on february 1 you purchased supplies costing 1800 and you debited
Carlyon Company listed the following equity items on December 31, 2012:
Two years ago your corporate treasurer purchased for the firm a 20-year bond at its par value of $1,000. The coupon rate on this security is 8 percent. Interest payments are made to bondholders once a year. Currently, bonds of this particular risk..
After reading Chapter 1 in your textbook, read the 2012 article from the Journal of Nursing Management, "What is strategic management?" Then discuss what strategic management is to you, and provide three examples of different types of strategies ..
assume that you deposited 100000 in a savings account paying an interest of 12 per year compounded monthly. you wish to
Do any of these firms appear to have a cash flow problem?
if investors aversion to risk increased would the risk premium on a high-beta stock increase by more or less than that
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