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For each of the following situations, calculate the amount of bond discount or premium, if any.
a. Holt Co. issued $70,000 of 6 percent bonds at 101 ¼. b. Janus, Inc., issued $100,000 of 10 year, 6 percent bonds at 97 ½. c. Mao, Inc., issued $200,000 of 20 year, 6 percent bonds at 103. d. Hammi Co. issued $150,000 of 15 year, 7 percent bonds at 99.
if the lower of cost or market is an exception to the historical cost principle. discuss why it is important to allow
Compute cost of goods sold, assuming Ehlo uses - periodic system, FIFO cost flow
robinsons expects its 2012 sale and cost of goods sold to grow by 5 percent over their 2011 levelsa. what will be the
Aziz Corporation produces and sells a single product. Data concerning that product appear below.
Go to a website that discusses FASB, SEC, IFRS, and/or IASB. Describe and discuss the standards and rulings that are being contemplated through pending discussion drafts and exposure documents of FASB and IASB.
a truck costing 100000 and uninsured is wrecked its first day in use. it can be either a disposed of for 1000 cash
oslo compnay prepared the following contribution income statement based on a sales volume of 100 units the relevant
lomax enterprises purchased a depreciable asset for 26000 on march 1 year 1. the asset will be depreciated using the
The salvage value of the U-Scan is expected to be $3,000. What is the net present value if the cost of capital is 12 percent (ignore income taxes)? If required, round to the nearest whole dollar.
On February 1, 2011, Albert sold $40,000 of the bonds at 103 plus accrued interest. The journal entry Albert will record on April 1, 2011 for the purchase of the bonds will include:
the collins corporation just started business in january of 2007. they had no beginning inventories. during 2007 they
Quick Cleaners, Inc. (QCI) has been in business for several years. It specializes in cleaning houses but has some small business clients as well. Prepare journal entries for the following transactions, which occurred during a recent month, and determ..
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