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1. P & P Products issued $1,800,000 of face value bonds on April 1, 2012. The bonds were sold for $1,908,000. They pay 8% interest each year on December 31st and come due in 10 years from their date of January 1, 2012. The company uses the effective interest methos to amortize any premium or discounts. The market rate is 6%.
Required: Prepare a bond amortization schedule showing the interest expense, interest payable/cash, amount of amortization and carrying value of the bond for the first two years. Prepare entries for the issuance of the bonds and payment of interest for 2012 and 2013. ( You can disregard years 3-10)
you are given the subsequent information for lightning power co. suppose the companys tax rate is 40 percent.debt10000
What discount rate would you use in analysing the option alternative? Why?
Determine the direct materials price variance and the direct materials efficiency variance for the year.
On July 1, 2008, Falk Company signed a contract to lease space in a building for 20 years. The lease contract calls for annual (prepaid) rental payments of $90,000 on each July 1 throughout the life of the lease and for the lessee to pay for all a..
Tawstir Corporation has 400 obsolete personal computers that are carried in inventory at a total cost of $576,000. If these computers are upgraded at a total cost of $130,000, they can be sold for a total of $190,000. As an alternative, the computers..
What is the total amount of inventory to be included in Select's August 31st balance sheet and What are the total manufacturing costs charged (debited) to Work-in-Process during August?
Alona Company’s overhead rate was based on estimates of $976,800 for overhead costs and 88,800 direct labor hours. Alona’s standards allow 5 hours of direct labor per unit produced. Production in May was 1,500 units, and actual overhead incurred in M..
When Post collected the receivable on February 15, 2012, the U.S. dollar equivalent was $95,000. In Post's 2012 consolidated income statement, how much should it report as a foreign exchange loss?
Prepare the entry required on December 31, 2013, to record the payment of the first 6 months' interest and the amortization of premium on the bonds.
Mooncake Company uses the perpetual inventory method. The unadjusted balance in the company's Merchandise Inventory account is $120,000 at December 31, 2014. A physical count of its inventory on that date discloses that the cost of the merchandise in..
Prepare journal entries in the General Fund of the Brownville School District.
multiple choice questions on marginal costing.1. which costs will change with an increase in activity within the
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