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On January 1, 2010, Carla Industries issued 10% bonds dated January 1, 2010, which has a face amount of 25 million. The bonds mature in 2020. The market rate of interest 12%. The interest is paid on June 30 and December 31.
Determine the price of the bonds at January 1, 2010, then prepare the journal entry to record the issuance by Carla Industries on Jan 1, 2010, and prepare both of the journal entries to record interest on June 30 and December 31.
Hamilton Company owns 51,000 of Hennie Company's 100,000 outstanding shares of common stock. Hennie Company pays $25,000 in total cash dividends to its shareholders. Hamilton's entry to record this transaction should include a:
Which of the following is not considered actual receipt or "constructive receipt" of income in the current year? Which of the following does not have to be included in gross income?
Describe the two major obligations incurred by a company when bonds are issued. Magda and Helga are discussing how the market price of a bond is determined.
Colgate-Palmolive Company has just paid an annual dividend of $0.96. Analysts are predicting an 11% per year growth rate in earnings over the next five years.
Zigs Industries had the following operating results for 2011: sales = $27,960; cost of goods sold = $19,360; depreciation expense = $4,940; interest expense = $2,190; dividends paid = $1,050.
Madison Industries has equivalent units of 2,000 for materials and for conversion costs. Total manufacturing costs are $160,000. Total materials costs are $120,000. How much is the conversion cost per unit?
Norman traveled to San Francisco for four days on vacation, and while there spent another two days conducting business for his employer. Norman's plane fare for the trip was $500; meals cost $150 per day; hotels cost $300 per day
Accounts receivable arising from sales to customers amounted to $40,000 and $35,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $110,000. Exclusive of the effect of other adjustments, t..
The following production and total cost information relates to a single product organisation for the last three months: Month Production Total cost units £ 1 1,200 66,600 2 1,900 58,200 3 1,400 68,200
Sherman Brothers, Inc., sold 4 million shares in its IPO, at a price of $18.50 per share. Management negotiated a fee (the underwriting spread) of 7% on this transaction.
The single audit requirements apply only to state and local governments. Private not-for-profits do not have to comply with these requirements, even if they receive federal grants.
You realize that your accounting services are why Eric's Elmhurst Motorcycle has both stayed afloat and even prospered through the years.
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