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1. On January 2, 2010, $100,000 of 11%, 10-year bonds were issued for $97,000. The $3,000 discount was charged to Interest Expense. The bookkeeper, Mark Landis, records interest only on the interest payment dates of January 1 and July 1. What is the effect on reported net income for 2010 of this error, assuming straight-line amortization of the discount? What entry is necessary to correct for this error, assuming that the books are not closed for 2010?
the united world corporation has three
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the management of kirchner inc. asks your help in determining the comparative effects of the fifo and lifo inventory
the allowance for uncollectible accounts had a balance of 1400 on january 1 at the beginning of the year. during the
razz corporations common stock is currently selling on a stock exchange at 181 per share and its current balance sheet
star services inc. a manufacturer of telescopes began operations on october 1 of the current year. during this time the
Jackie Chin Waste Management has a subsidiary that disposes of hazardous waste and a subsidiary that collects and disposes of residential garbage. Information related to the two subsidiaries follows:
On May 31, 2014, Reber Company had a cash balance per books of $7,167.50. The bank statement from New York State Bank on that date showed a balance of $6,790.60. A comparison of the statement with the cash account revealed the following facts. Prepar..
the comparative income statement in thousands of dollars for the fiscal years 2008 and 2007 was adapted from the annual
The beginning balance of retained earnings was $137,000,while the end of the year balance of retained earnings was $175,000.Net income for the year was $63,000. How much was paid in cash dividends during the year?
silver company makes a product that is very popular as a mothers day gift. thus peak sales occur in may of each year as
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