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Question :
On January 1, 2015, McDaniel Company issued a 5-year $1,000,000 bond with stated interest rate of 10%. Interests were payable semi-annually on July 1 and January 1. The market interest rate was 8%. McDaniel paid $10,000 issue costs, and amortizes any bond discount/premium using the effective interest method and bond issue costs using the straight-line method.
1. Prepare journal entries on 1/1/2015 for McDaniel
2. Prepare journal entries on 12/31/2015 for McDaniel.
3. After paying interests due on 1/1/2016, McDaniel recalled 100% of the bond at 102. Recall expenses totaled $2,000. Prepare journal entries for the interest payment and retirement of the bond for McDaniel.
Determine the NPV for the purchase, lease without the service contract, and the lease with the service contract.
The machine would reduce cash operating costs by $114,000 per year. The machine could have no salvage value.
Assuming that the auditors consider the amounts involved as indicative of a weakness in internal controls, how, if at all, should that finding affect your report on the program
The standard hours allowed for the definite output of the month totaled 7,070 machine-hours. Evaluate what was the variable overhead efficiency variance for month?
Evaluate the NPV of the given case study
How the balance for depreciation expense for equipment is 4,772,000. Can someone please help
What is the amount of unrestricted Cash and Investments at 9/30/15 and what is the amount restricted Cash and Investments at 9/30/15?
What is the amount of under- or overapplied overhead at December 31 and compute the manufacturing overhead rate for the year. (Round answers to 2 decimal places, e.g. 1.25.)
What is the residual income and with these new costs and selling prices, what recommendations would you make concerning the company's operations?
Compute journal entries to record the above transactions for a retail store.
Journalize transactions as required from the activity data and post journal entries to T-accounts and calculate account balances.
Prepare the Statement of Changes in Net Position of the Flood Control Commission for the month ended October 31, 2011
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