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On August 1, Clayton Co. issued 1,300,000 of 20 year, 9% bonds, dated August 1, for $1,225,000. Interest is payable semi annually on February 1 and August 1. Present the entries to record the following transactions for the current year.
a. Issuance of bonds
b. Accural of interest and amortization of bond discount for the year, on December 31, using the straight-line method.
Recently, there have been a number of high profile company collapses which have had a significant effect on employess, customers,government,creditors,and other stakeholders.
Assume Evon is the sole owner of the entity and ignore self-employment taxes. Explain how much would Evon keep after taxes if SHO is organized as either a C corporation or an LLC?
2013 westgate construction company entered into a contract to prepare a road for santa clara county for 10000000. the
Comment on the difference between net cash provided by operating activities and net income. Speculate on which number is likely to be the better indicator of long-term profitability.
What is the value of the cash flow stream at the end of Year 5 if the cash flows are invested in an account that pays 10 percent annually?
accumulated postretirement benefit obligation at jan 1 2012 = 760,000; accumulated OCI (PSC) at jan 1 2012 = 100,000 Dr.; discount rate = 9%. Instrucions: compute postretirment benefit expense for 2012.
Mahmet earned wages of $118,650 during 2014. He is single and claims two withholding allowances. How much will Mahmet's employer withhold in social security taxes for the year?
Thoroughly describe the differences between a transaction privilege tax and a use tax. Describe the requirements for reporting these taxes to the State of Arizona and summarize the penalties associated with filing/paying late. Complete your essay by ..
Prepare the closing entries at October 31 in the General Journal and Trial Balance for your closing entries
If sales totaled $200,000 for the current year (10,000 units at $20 each) and planned sales totaled $150,000 (12,500 units at $12 each), the effect of the unit price factor on the change in sales is a:
Ashley is an attorney who specializes in family law. She uses the cash method of accounting and is a calendar-year taxpayer. Last year, she represented a client in a lawsuit and billed the client $5,000 for her services, Although she made repeated at..
Post the journal entries to the T-accounts. (Hint: some new accounts must be opened. and Prepare all four financial statements for the year ended December 31, 2009.
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