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On May 1, 2011, Newby Corp. issued $600,000, 9%, 5-year bonds at face value. The bonds were dated May 1, 2011, and pay interest semiannually on May 1 and November 1. Financial statements are prepared annually on December 31. Instructions a) Prepare the journal entry to record the issuance of the bonds b) Prepare the adjusting entry to record the accrual of interest on December 31, 2011 c) Show the balance sheet presentation on December 31, 2011. d) Prepare the journal entry to record payment of interest of May 1, 2012, assuming no accrual of interest from January 1, 2012 to May 1, 2012. e) Prepare the journal entry to record payment of interest on November 1, 2012 f) Assume that on November 1, 2012, Newby calls the bonds at 102. record the redemption of the bonds.
question on 1 of january 2013 abc company announced stock options for the cfo at the price of 25 a share - 1000 shares.
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Develop a department budget. The accounting department has supplied you with the following projected information about how this year, 20XX, will end up for your department's spending.
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What resources did you use in preparing this tax return? Provide references to page numbers in your textbook and specific addresses within the IRS website.
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Discuss briefly the accounting irregularities found in ENRON and HIH's corporate collapse. Also discuss, the role auditors played and how they could have helped to avoid these collapses.
Complete Phillip and Claire Dunphy's 2012 federal income tax return.
Does the important increase in compensation in 2011 indicate that there is private increment that endangers the tax exempt status of the organization? Would it matter if Bill was an attorney who provided legal services to organization?
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