Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Amortization of discount or premium.
Benson Industries, Inc. issued $5,000,000 of 8% debentures on May 1, 2004 and received cash totaling $4,436,315. The bonds pay interest semiannually on May 1 and November 1. The maturity date on these bonds is November 1, 2012. The firm uses the effective interest method of amortizing discounts and premiums. The bonds were sold to yield an effective interest rate of 10%.Instructions
Calculate the total dollar amount of discount or premium amortization during the first year (5/1/04 through 4/30/05) these bonds were outstanding. (Show computations and round to the nearest dollar.)
Discuss the efforts made toward convergence of International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (GAAP) on the financial performance reporting by business enterprises.
A soft drink maker wants to expand into a neighboring country. They want the product bottled in that country to avoid political issues and to enhance the local image of the product.
Your firm has the following income statement items; sales of 50,250,000; income tax of 1,744,000.00; operating expenses of 10,115,000; cost of goods sold of 35,025000 and interest expense of 750,000. What is the amount of the firm's gross profit.
Provide for a general definition of the income statement, its purpose as well as its relation to the Balance Sheet and Cash Flow statements
Compute the following variances and indicate whether the variance is favorable or unfavorable. 1. Direct material price variance, Direct materials quantity variance, Direct labor price variance, Direct labor quantity variance
Net Income for Levin-Tom partnership for 2012 was 125000. Levin and Tom have agreed to distribute partership net income according to the following plan.
All of the following would be entries in assigning accumulated costs to the Work In Process Inventory except:
Tammy Potter, a new partner with the regional CPA firm of Tower & Tower, was recently appointed to the board of directors of a local civic organization. The chairman of the board of the civic organization is Lewis Edmond, who is also the owner of ..
Using the Internet or Strayer databases, research the rules regarding the transfer of property and services to a corporation in exchange for stock. Include a review of the IRS to determine its level of interest and audits conducted related to this..
Aquafloat Corporation manufactures raft for us in swimming pools. The standard cost for material and labor is $89.20 per raft. Compute the following amounts. Indicate whether each variance is favorable or unfavorable.
Distinguish between a defined benefit plan and a defined contribution plan. Why does a defined benefit plan present far more complex accounting issues than a defined contribution plan?
What employment records are important to keep? Why?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd