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Mclain corporation sold 6.000.000, 9%, 10years bonds on january 1, 2014. the bonds were dated january 1, 2014, and pay interest on july 1 and january 1. McLain corporation use the straight line method to amortize bond premium or discount. assume no interest is accured on june 30a. prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2014, assuming that the bond sold at 102b. prepare journal entries as in part ( a ) assuming that the bonds sold at 96c. show statement of financial position presentation for each bond issued at december 31,2014
Jessie, Inc., which uses a predetermined overhead rate based on direct labor hours, estimated total overhead for the year to be $7,500,000 and total direct labor hours to be 125,000 hours.
Lease or buy: I can lease a building for $10,000 or buy for $800,000. The weighted average cost of capital is 12%. Which is cheaper buy or lease?
Write a strategy on how GM should operate its financial aspect of the company to improve sales.
Suppose you borrowed $20,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would you still owe at the end of the first year, after you have made the first payment?
For the basic cost categories of direct labor and overhead, provide examples of the types of costs that would fall into each category for Liberty Tax Service.
If you were a member of the School District board, what factors would you consider in evaluating the two bids?
Illustrate journal entries required and demonstrate the calculations necessary. How to calculate a change in the periodic rate is also shown. Plant asset disposal slides illustrate the following situations: retirement, loss on sale, and gain on sa..
The estimate for sampling error results because the auditor has sampled only a portion of the population. Sampling error represents the:
Analyze the tax implications of capital gains and/or losses based on the following case study. Apply the IRS codes to calculate adjusted gross income for individuals. Support your conclusions with reference to specific IRS codes and regulations.
What's the difference between random error resulting from manual processing and systematic error resulting from IT processing?
We need to discuss what these options are, how they effect the financial reports, and which one(s) are most beneficial given various goals. Start by describing each of the options for valuing inventory.
Define variable and fixed costs. Comment on how these costs are used to estimate future requirements. Discuss how contribution margin is used by managers for decision making.
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