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Ruben Company purchased $100,000 of Evans Company bonds at 100 plus $1,500 in accrued interest. The bond interest rate is 8% and interest is paid semi-annually. The journal entry to record the receipt of interest on the next interest payment date would be: A.Debit: Cash $4,000; Credit: Interest Revenue $4,000 B.Debit: Cash $4,000; Credit: Interest Receivable $4,000 C.Debit: Cash $4,000; Credit: Interest Receivable $1,500 and Interest Revenue $2,500 D.Debit: Cash $2,500; Credit: Interest Revenue $2,500
Which of the following statements is true regarding the different types of general ledger accounts?
Using the appropriate interest table, answer each of the following questions.
Current and projected free cash flow for Radell Global Operations are shown below. Growth is expected to be constant after 2012, and the weighted average cost of capital is 11%. What is the horizon (continuing) value at 2012?
Reisner Company assembled the following information in completing its March bank reconciliation: balance per bank $11,460; outstanding checks $2,325; deposits in transit $3,750; NSF check $240; bank service charge $75; cash balance per books $13,200...
Under SFAS 52, when the current rate method is used, how are translation adjustments treated in the consolidated financial statements?
How much should the town report as property tax revenue in its General Fund statements for the year 2009?
Journalize the adjusting entry for bad debts on December 31, 2008, assuming that the unadjusted balance in the allowance for doubtful accounts at that time is a debit of $1,000 and an aging schedule indicates that the estimated value of uncollecti..
A substantial number of hours was spent by Raleigh and Mincin in resolving relatively minor differences between the confirmation replies and the accounting records. Alternative audit procedures were used for supplier who did not respond to the con..
In the current year, Company C lost $100,000. How should the parties report the above arrangements in its consolidated financial statements?
Venz Company's net income for 20x1 is $50,000. The only potentially dilutive securities outstanding were 1,000 options issued during 20x0, each exercisable for one share at $6. None has been exercised, and 10,000 shares of common were outstanding ..
This week, Airbus announced it was building new plant in Alabama. Can you aid me in answering the following questions based on information in conjunction with Foreign Direct Investment.
Amazon.com's financial statements in Appendix A at the end of this book reveal some interesting relationships. Answer these questions about Amazon.com:
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