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On July 1, 2009, the Nicholsen Corporation issued $300,000 of bonds, with a 13% face rate of interest, for $318,000. The bonds pay interest semiannually on each January 1 and July 1 and are to be repaid in three equal semiannual installments beginning July 1, 2011. Assume the company's fiscal year ends May 31 and it makes reversing entries for year end accruals.Required:Prepare the journal entries to account for this serial bond issue on each of the following dates, using the bonds outstanding method of amortization:1. July 1, 2009 2. January 1, 2010 3. July 1, 2010 4. January 1, 20115. July 1, 20116. January 1, 20127. July 1, 2012
Candi purchased a 10 percent limited partnership interest in rental property for $30,000. The partnership has a $1,300,000 mortgage that is secured by the building.
Terrorist organizations differ from organized crime group
the intangible assets section of centaur company at december 31 2012 is presented below.patents 84400 cost less 8440
blue sage mountain produces hinged snowboards. the price charged affects the quantity sold. the following equation
The company pays $44,900 to tear down the old building and $66,374 to fill and level the lot. It also pays a total of $1,857,382 in construction costs"this amount consists of $1,747,100 for the new building and $110,282 for lighting and paving a p..
Up to three standard deviations above or below the centerline is the amount of variation that statistical process control allows for
The firm sold securities on two occasions during the year, receiving a gain of $40,000 on the first sale but losing $50,000 on the second. The stock sold first has been owned for 4 years; the stock sold second had been purchased 3 months before th..
There are various steps that can be used to reconcile the use of different approaches between the buying and selling divisions
southlake corporation issued 900000 of 8 bonds on march 1 20x1. the bonds pay interest on march 1 and september 1 and
A corporation has 1,000 shares of 10 percent, $50 par-value preferred stock and 10,000 shares of $5 par-value common stock outstanding. If the board of the directors decides to distribute dividends totaling $40,000, the common stockholders will re..
flint an s corporation with substantial aep reports operating revenues of 410000 taxable interest income of 390000
compare and contrast three different types of entrepreneurs and state which you are most likely to emulate should you
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