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District Water Company issued 10-year bonds with a face value of $100,000 and a stated interest rate of 8.0%. The bonds are dated April 1, 2016, and call for semiannual interest payments on each April 1 and October 1. Due to market fluctuations, the bonds actually sold to yield 10.0% per year. 1. Compute the amount received for the bonds. 2. Compute the first interest and amortization amounts for the October 1, 2016, payment. 3. Prepare journal entries for the issuance of the bonds and for the first interest payment. 4. Compute the second interest and amortization amounts for the April 1, 2017, payment. SOLUTION:
Ingram Framing's cost formula for its supplies cost is $1,120 per month plus $12 per frame. For the month of June, the company planned for activity of 610 frames,
Tungsten Company, Inc., sells heavy construction equipment. There are 10,000 shares of capital stock outstanding. Find the annual fiscal period ends on December 31.
Precious, Inc. is a merchandiser of a single line of golden rings. At the beginning of the? day, the shop had 10 rings in its inventory. During the? day, 4 new rings were delivered to the shop. By close of? business, only 8 rings remained in inventor..
John Boyd Corporation manufactures and sells 1,000 tractors each month. The primary component in each tractor is the motor. John Boyd has the monthly capacity to produce 1,300 motors. Assuming John Boyd wants to earn a pretax profit of $10,000 on thi..
The Data Archives Company produces digital media as well as prints of high end fine art for galleries, artists, and collectors using digital photography, scanners, and other imaging systems. Assume that a Normal Job Costing system is used and that in..
Prepare the Cash Flow Statement for the year ended 28 February 2010
On Dec 31, company needed to record its accrued wages for yr end. if dec 31 is a Wednesday, then company must account for three days of wages. the company operates on a five day work week, the prior week’s gross pay was 29,870 and the net pay was 19,..
Plans to its employees. Under its executive stock option plan, the company granted options on January 1, 2013, that permit executives to acquire 4 million of the company’s $1 par common shares within the next five years, but not before December 31, 2..
The mailing of ken ‘s checks continued for the next four weekly paydays. It wasn’t until the monthly payroll reports were sent to Ken’s supervisor that the error was detected. Ken refused to return the four extra checks. What actions should the co..
Calculate the new bond price. Show all your calculator inputs and adjustments made and calculate the total interest amount you will pay over the life of the loan
What is the annual operating income from Deluxe at the price of $5,000? What is annual operating income from Deluxe if the price is reduced to $4,000 and sales in units increase by 25%?
Evaluate the accumulated depreciation for each machine at December 31, 2008 - The Capital Company purchased 3 machines in the past year. Information regarding these items
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