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The kurten corporation is authorized to issue $500000 0f 8% bonds interest on the bond payable semiannually ;the bond are dated january 1,2010 and are due december 31,2015
Required
Prepare the journal entry to record the following:
April 1,2010 sold the bond par plus accrued interest
June 30,2010 first interest payment
Dec 31,2010 second interest payment
on May 5, 1980 the Marr company issued a 5 year stock option to the chief financial officer the option entitled the employee to buy 1,000 shares of stock for $4 per share when the stock was selling fro $4 per share. under APB opinion No. 25 what i..
A record shop gives its customers coupons redeemable for a poster plus a record album. One coupon i issued for each dollar of sales. On the surrender of 100 coupons and $3.00 cash, the poster and alsum are given to the customer.
Vases take an average of 15 minutes to manufacture, and the machine that produces the vases has an annual capacity to run 4,000 hours. What is the average wait time for production?
What is the difference between accrual-basis accounting and cash-basis accounting? Why would politicians prefer the cash basis over the accrual basis? Write a letter to your senator explaining why the federal government should adopt the accrual basis..
Mars Corporation has three departments. Condensed income statement data are as follows:
Which one of the following best exemplifies a perpetuity?
Intercompany transactions are very important in the consolidation process. Choose an intercompany transaction. Discuss the effects of intercompany transactions when consolidating financial statements. Your discussion should include the effects on ..
Assuming that the directors decide to declare total dividends in the amount of $382,508, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock.
The framework used to record and summarize the economic activities of a business enterprise is referred to as the accounting equation. State the basic accounting equation and define each of its major components. How are business transactions and f..
What balances would need to be considered in order to prepare the consolidation entry in connection with these intercompany bonds at December 31, 2008, the end of the first year of the intercompany investment?
Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2007, for Guesser Company, using the indirect method.
Production: 12,000 units finished and transferred out: 3,000 units started that are 100% complete as to materials and 40% complete as to conversion costs. Manufacturing costs: Materials $36,000; labor $30,000; overhead $ 37,320. Prepare a producti..
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