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On January 1, 20xx, alpha Corporation isuued $800,000 of 10%, 30-year bonds to lenders at par (100). Interest is to be paid semiannually on July 1 and January 1. Journalize the following entries.
a. Issued the bonds.
b. Paid semiannual interest payment.
c. Retirement of bonds, assuming interest expense is up-to-date.
A performance report for direct labor shows a variance between the budget and actual amounts. This difference is a:
Bentz Corporation bought and sold several securities during 2006. Listed below is a summary of the transactions. Prepare the journal entries for the above transactions. Show calculations.
Which of the following is FALSE in regards to direct materials for an auto manufacturer?
A company enters into a futures contract with the intent of hedging an account payable of DM400,000 due on December 31. The contract requires that if the U.S. dollar value of DM400,000 is greater than $200,000 on December 31, the company will be r..
Future,Inc. reported the following results for the year: Future's taxable income for the year was:
Which of the following is true when ranking proposals using zero-base budgeting?
Equity securities acquired by a corporation which are accounted for by recognizing unrealized holding gains or losses as other comprehensive income and as a separate component of stockholders' equity are:
Journalize the entry to record the payroll for the week of December 10. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".
What is a formal means of distinguishing between random and nonrandom variation in an operating process?
During the year, Loon Corporation has the following trancastions: $ 400,000 operation income, $355,000 operating expenses, $25,000 municipal bond interest, $ 60,000 long-term capital gain, and $ 95,000 short-term capital loss.
What are the differences in reporting guidance in a for-profit and not-for-profit organization? What are the similarities in reporting guidance in a for-profit and not-for-profit organization? How do these differences and similarities affect the c..
Compute the largest tax deduction possible in 2010 for the equipment (consider the Section 179 election, Bonus Depreciation, and MACRS):
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