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Randell company issues 7%, 10-year bonds with a par value of $150,000 and semiannual interest payments. on the issue date, the annual market rate for these bonds is 8%, which implies a seelling price of 93 1/4. the straight-line method is used to allocate interest expense.
1. what is the issuer's cash proceeds from issuance of these bonds?
2. what total amount of bond interest expense will be recognized over the life of these bonds?
3. what is the amount of bond interest expense recorded on the first interest payment date?
Lexicon, Inc. had beginning inventory in March consisting of 15,000 units (60 percent converted) and ending inventory consisting of 20,000 units (40 percent converted). In addition, 45,000 units were started during the period. How many equivalent ..
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Ron served as a resident advisor in a dormitory and, therefore, the university waived the $2,500 charge for the room he occupied. What is Ron's adjusted gross income for 2010?
Clancey Inc. issues $2,085,500 of 7% bonds due in 14 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 11%. What amount will Clancey receive when it issues the bonds?
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The ledger of Salizar Company at the end of the current year shows Accounts Receivable $110,000, Sales $840,000, and Sales Returns and Allowances $40,000.
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