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The City of McNeely sold bonds in the amount of $10,000,000 to finance the construction of a public health center. The bonds are serial bonds and were sold at par on July 1, 2008 the first day of a fiscal year. Shortly thereafter a constuction contract in the amount of $9,000,000 was signed and the contractor commenced work. By year-end the contractor had been paid in full for all billings to date amounting to $4,000,000.
Required: Prepare in general journal form all journal entries that should have been made during the fiscal year ended June 30, 2009 to record the above information in the captial projects fund.
kelm company purchased a new machine on october 1 2010 at a cost of 142300. the company estimated that the machine will
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a barn with an adjusted basis of 125,000 was destroyed by a tornado on March 5, 2011 on May 15, 2011 the insurance company paid the owner 150,000 the owner reingested 170,000 in another barn what is the basis of the new barn if non-recognition of ..
The call premium is one year of coupon payments. It is offered for sale at $1,135.25. What yield to call of the bond?
Assuming that a prevailing interest rate of 8% applies to this contract, how much should Fishbone record as the cost of the machine?
tampa foundry began operations during the current year manufacturing various products for industrial use. one such
What are the issues related to goodwill valuation when comparing partnerships formation with companies consolidations?
eddy falls is considering litigation a tax deficiency of approximately 229030 in the court system. he asks you to
It is an objective of the statement of cash flows to: a. disclose changes during the period in all asset and all equity accounts. b. disclose the change in working capital during the period.
Determine the difference between absorption and variable costing witout preparing an incom statement.
Determine the effects on the accounts and financial statements of recording the following selected transactions of Lone Star Leather Co.:
A company that changes from the declining-balance method of depreciation for previously recorded assets to the straight-line method should report the change as a(n)
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