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Question - On June 30, 2013, Cruz Co. had outstanding 9%, $ 5,000,000 face value bonds maturing on June 30, 2018. Interest was payable semiannually every June 30 and December 31. On June 30, 2013, after amortization was recorded for the period, the unamortized bond premium and bond issuance costs were $ 30,000 and $ 50,000, respectively. On that date, Cruz acquired all its outstanding bonds on the open market at 98 and retired them. At June 30, 2013, what amount should Cruz recognize as gain before income taxes on redemption of bonds?
In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct method.
The company"s accounting year ends on December 31. Compute the depreciation expense for 2009 and 2010 under the double-declining balance method.
Are these rules comparable? What are the major differences between the two accounting standards? What was your rationale for choosing a rule?
Differentiate between the multiple-step and the single-step forms of the income statement.
Compute ending inventory and cost of goods sold, using each of the methods - Average cost
Using the retail method, estimate (1) the cost of goods sold during the year and (2) the inventory at the end of the year
Explain the benefits of using transfer pricing within organisations. Explain the benefits of EMA to both internal decision making and external reporting
What is a constructive dividend? Under what circumstances is the IRS likely to argue that a constructive dividend has been paid?
Compute the contribution margin unit, and calculate the break-even point in units (notes: round answer to the nearest unit.) Calculate the contribution margin ratio and the break-even sales revenue to the nearest dollars.
When calculating the contribution margin for breakeven analysis purposes, should one handle variable selling and administrative costs the same way as variable manufacturing costs? Explain. Is CVP analysis more focused on the short or the long term..
According to an article in the Economist, the Russian economy "may not have been booming by 7% a year, as in the mid-2000s, but GDP grew by 3.6% in 2012." Are these two percentages referring to changes in nominal GDP or in real GDP? Briefly explai..
georgia company reported accounts receivable of 16.5 millionat the end of its 2007 fiscal year. this amount was net of
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