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The balance sheet for marin co include 7.5% bonds payable due december 31, 2018 for $1,600,000. Unamortized discount on bonds payable for $64,000. The bonds were issued on dec 31, 2008 at 95 with interest payable on june 30 and december 31( straight line). On january 1 2011 marin retire $640,000 of these bonds at 101. what are the journal entry to record the retirement?
As part of a Careers in Accounting program sponsored by accounting organizations and supported by your company, you will be taking a group of high-school students through the accounting department in your company. You will also provide them with v..
They also have a policy of maintaining a raw material inventory at the end of each month equal to 20% of the pounds needed for the following month's production. There were 3,920 pounds of raw material on hand at Dec. 31, 2010, For the first quarter o..
If a check correctly written and paid by the bank for $428 is incorrectly recorded on the company's books for $482, the appropriate treatment on the bank reconciliation would be to:
A manufacturing company prepays its insurance coverage for a three-year period. The premium for three years is $2,700 and is paid at the beginning of the first year. 80% of the premium applies to the factory and 20% applies to administrative. What..
For inadequacies in internal controls describe the financial statement misstatements that may arise, and describe how they may occur.
Prepare the necessary correcting entries, assuming that Longfellow uses a calendar-year basis.
Which of the following will be disclosed in the reconciliation of retained earnings?
Which of the following is the most probable reason a company would experience an unfavorable labor rate variance and a favorable labor efficiency variance?
On October 1, Kingbird Corporation made a contribution to a qualified charitable organization of $6,300 in cash (not included in any of the above items). Determine Kingbird's charitable contribution deduction for the current year.
Determine Tonya's adjusted gross income for the current year. I know that the income is limited to the tax benefit from the prior year, but I am unsure of the tax benefit of the prior year, whether you would use all the of $10,000 or if it's limit..
The 2008 annual report for Fortune Brands, the seller of Pinnacle golf balls and MasterLock padlocks,disclosed that 750 million shares of common stock have been authorized.
Dabney's salary is $35,000 while Nancy's salary is $40,000 and they have interest income of $3,000. During the year, they spend $9,000 for child care expenses that are required so both of them can work outside of the home. Calculate the credit f..
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