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Cupola Fan Corporation issued 14%, $440,000, 10-year bonds for $421,000 on June 30, 2016. Debt issue costs were $1,900. Interest is paid semiannually on December 31 and June 30. One year from the issue date (July 1, 2017), the corporation exercised its call privilege and retired the bonds for $431,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs. Required: Prepare the journal entry to record the issuance of the bonds, the payment of interest and amortization of debt issue costs on December 31, 2016 and June 30, 2017 according to IFRS. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Vizla Inc. has sales of $1,200,000, and the break-even point in sales dollars is $960,000. Determine the company's margin of safety as a percent of current sales. Enter your answer as a whole number.
The equipment had a recorded amount on Mayo's books of $21,000. What journal entry should Siegle make to record this exchange?
Prepaid Rent was $800 at the end of May and $1,300 at the end of June. Rent Expense for June was $720. How much cash was paid for rent during June
Due to the recent beef recall, southern steakhouse is considering incorporating. Bill, the owner wants to protect his personal assets in the event the restaurant is sued. Which advantage of incorporating is most applicable?
The Trick Company manufactures tacks. Costs for September were direct labor, $84,000; indirect labor, $36,700; direct materials, $55,900; taxes on raw materials and work in process, $4,800; factory utilities, $3,200; and insurance on plant and equipm..
Calculate the ROI for Rae Corporation and calculate the profit margin for Rae Corporation.
Corporation makes a product whose direct labor standards are 0.8 hours per unit and $28 per hour. In April the company produced 7,350 units using 5,380 direct labor-hours. The actual direct labor cost was $112,980. The labor efficiency variance for A..
Land, Buildings, and Machinery - Prepare a schedule showing the amounts to be recorded as Land, Buildings, and Machinery.
Each of the following scenarios is independent. Assume that all cash flows are after-tax cash flows. Colby Hepworth has just invested $475,000 in a book and video store. She expects to receive a cash income of $120,000 per year from the investment.
Recast the income statement for December 31, 1998, so that it includes comprehensive income - even though not allowed by the FASB, compute the EPS for comprehensive income.
What are some examples of real-life situations where the addition of fractions, multiplication of fractions, or division of fractions might be required?
Calculate the expected return from Dell. Find the highest expected return that is offered by one of these stocks. Find the lowest expected return that is offered by one of these stocks.
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