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Logan Corporation issued $800,000 of 8% bonds on October 1, 2006, due on October 1, 2011. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest. Logan Corporation closes its books annually on December 31.Instructions(a) Prepare the amortization schedule (effective interest method) through October 1, 2007.(b) Prepare the adjusting entry for December 31, 2007. Use the effective-interest method.(c) Compute the interest expense to be reported in the income statement for the year ended December 31, 2007.
Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used Brass $75,000 Repair parts 16,000
Explanations on the correct fixation of selling price
How many pounds of guava puree are required? a. In a month? b. How many in a year? In computing the Total Landed cost for mango concentrate, we are interested in the incre
What are the reasons of preparing income statement?
what is marginal costing and explain concept of marginal costing
the folloeing job order cost sheets were purchased for three jobs that were in production during january job 97 job 98 job 99 material
Andrew Industries is contemplating issuing a 30-year bond with a coupon rate of 7% (annual coupon payments) and a face value of $1000. Andrew believes it can get a rating of A from
The sale turnover and profit during two period were as following Period 1=Sales Rs.20 Laks, and Profit Rs.2 Laks Period 2=Sales Rs.30 Laks, and Profit Rs.4.Laks Calculate P/V Ratio
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Thomas Crown expects to earn the following stream of annual income for the next four years:- $41,000; $45,000; $38,000 and $50,000. Although he has adopted the Pay Yourself First s
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