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Not sure on how to calculate and record. On Feb. 28,2012 Ace Company sold 8,000,000, 9%, 10yr bonds to purchase a new production machine. Bonds of similar risk and length have a current market rate of 8%. Can you answer the following questions & show how you got it please. Thanks so much for your help 1.Record the journal entry to sell the bonds and purchase the equipment 2.Record the first semi-annual interest payment. 3.Show how the bond would appear on the Dec 31, 2011 B.S.
Jaclyn is going to the company's primary bank to negotiate a line of credit and wants to show the maximum amount of income without actually changing last year's results. What costing method of inventory(variable or absorption) should she choose? W..
On October 1, 2011, $2,500,000 of these bonds were converted into 35,000 shares of $15 par common stock. Accrued interest was paid in cash at the time of conversion.
Within today's international business environment, there has been a great deal of discussion about the convergence of United States accounting standards
select two components of internal control. Explain how the role of internal and external audit would differ in assessing these components.
A magazine offers a one-year subscription at a cost of 15 with renewal the following year 16.50. Also offered is a two-year subscription at a cost of 28.
Didde's effective income tax rate is 34% for 2011. What amount should Didde report in its 2011 income statement as the current provision for income taxes?
(a) Determine the total estimated uncollectibles. (b) Prepare the adjusting entry at March 31, 2007, to record bad debts expense. (c) Discuss the implications of the changes in the aging schedule from 2006 to 2007
How does activity-based costing differ from other forms of costing? What about activity-based management? Are activity-based costing and management suitable to all companies? Why or why not?
Discuss the effect that this event will have on the company's financial statements - Data Technologies provides maintenance service for computers and office equipment for companies throughout the Northeast.
Casso limited has an option to purchase new car for the use from a bank on loan for Rs. 100,000 with 16% interest payable annually and the principal is repayable in full at the end of four years.
Compare and contrast the differences in accounting processes and procedures that medium sized companies such as yours go through when going public.
When can information about two operating segments be aggregated? How is accounting for pensions different than accounting for other post-retirement benefits?
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