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On November 1, 2015, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at discount for $191,000, and make semiannual payments on April 30 and October 31. At December 31, 2015, Archangel made an adjusting entry to accrue interest at year end. No further entries were made until April 30, 2016 when the first interest payment was made. How much interest expense will be recorded for the period of January through April, 2016?
Race decided to use the equity method to account for this investment. What was the noncontrolling interest's share of consolidated net income?
The effective interest method of amortization is being used. Pinkley expects the machine to have a ten-year life with no salvage value, and be depreciated on a straight-line basis. Collectibility of the rentals is reasonably predictable, and there..
Five equal payments of $10,000 per year are required by the term of the lease, with the first payment due upon signing. Quattro's incremental borrowing rate is 8%, but its implicit interest rate is unknown.
What are some examples of long formal reports? When might an accounting department or accounting firm use these reports?
Discuss your thoughts on whether CEOs' exceptionally high pay is economically justified. Explain your rationale.
What factor(s) do U.S. taxing authorities consider to determine whether the interest is investment income not subject to U.S. taxation or business income subject to U.S. taxation?
Which one of the following items is not necessary in preparing a statement of cash flows?
An asset purchased by A Corporation for $15,000 ON 01/01/1997 also incurred freight charges of $200 and installation cost of $1,000.The asset had a life expectancy of eight years and a salvage value of $2,800.
Differentiate between nonprofits and governments in regards to accounting for restricted funds. What are the potential reasons GASB issued a statement 54 clarifying the reporting and classification of funds for governmental accounting.
Determine the EOQ before and after the change in the cash discount policy. Translate this into average inventory (in units and dollars) before and after the change in the cash discount policy.
Prepare a brief memo (no more than 120 words) giving the arguments for and against offering this preferred stock. In the memo also briefly mention other methods of obtaining the cash.
What 2010 income, if any, must Maritza report due to the receipt of the incentive stock options?
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