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Bond Investment Transactions
Journalize the entries to record the following selected bond investment transactions for Olson Products:
For a compound transaction, if an amount box does not require an entry, leave it blank. a. Purchased for cash $114,000 of Hart Industries 9% bonds at 100 plus accrued interest of $1,710. b. Received first semiannual interest payment. c. Sold $76,000 of the bonds at 102 plus accrued interest of $580. I know 'A', but I'm having trouble with 'b' and 'c'. For 'b', I'm having trouble with 'cash' which is saying $3990 is incorrect and also having trouble with interst revenu which is saying htat $2660 is incorrect. For 'c', I'm having trouble with cash and gain of sale on investments'.
Talbot Enterprises recently reported an EBITDA of $7.0 million and net income of $2.45 million. It had $2.1 million of interest expense, and its corporate tax rate was 30%. What was its charge for depreciation and amortization?
q1at calebs tights the break-even point is 2000 units. if fixed costs total 300000 and variable costs are 30 per unit
Style wise Printing Company currently leases its only copy machine for $1,000 a month. The company is considering replacing this leasing agreement with a new contract that is entirely commission based. What is the company’s breakeven point under the..
Assuming that the carry back provision is used, prepare all the necessary journal entries for each year 2008-2011 to record income tax expense (benefit) and income tax payable (refundable), and the tax effects of the loss carry back and loss carry fo..
What is the amount and character of the profits Dina recognizes as a result of the distribution? Evaluate Dina's basis in the land?
Expand on John's thought. How are the large losses related to fixed costs and identify a way that John can turn potential fixed costs into variable costs.
Prepare a consolidated statement of financial position for Ham plc as at 1 January 20X0. Explain how the negative goodwill will be treated.
How much cash did the company use to purchase marketable securities during the year ended in 2011, if any? Where did you look to find this information?
Total production of 1,000 units of finished goods required 3,000 actual parts at $2.25 per part. The standard is 2.9 parts per unit of finished goods, at a standard price of $2.30 per part. Which of the following statements is true?
On January 1, 2014, Valley Company entered into a 3-year construction contract that had an estimated gross revenue of P3,000,000. The entity used the percentage of completion method in recognizing income on its books.
Determine labor efficiency variance
Compute Erkens Company's predetermined overhead rate for the year.- Prepare journal entries to record the events that occurred during April.
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