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Caruba Company issued $300,000, 6%, 20-year bonds on January 1, 2012, at 103. Interest is payable semiannually on July 1 and January 1. Caruba uses straight-line amortization for bond premium or discount. Prepare the journal entries to record the following.The issuance of the bonds.The payment of interest and the premium amortization on July 1, 2012, assuming that interest was not accrued on June 30.The accrual of interest and the premium amortization on December 31, 2012.The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.
Mahtomedi Corporation is considering investing in specialized equipment costing $240,000. The equipment has a useful life of five years and a residual value of $20,000. Depreciation is calculated using the straight line method. The expected net ca..
atlantic airlines is considering these two alternatives for financing the purchase of a fleet of airplanes.1.issue
Describe the accounting treatment for discontinued operations. How should an analyst treat discontinued operations?
1. Problem 10- 4B Computing and revising depreciation; selling plant assets C2 P1 P2 York Instruments completed the following transactions and events involving its machinery. 2012 Jan. 1 Paid $ 107,800 cash plus $ 6,470 in sales tax for a new..
badger recorded 500000 of net sales for the year which 2 is estimated to be uncollectable. identify and analyze the
Prepare an income statement and statement of cash flows for the 2009 accounting period.
mozena corporation has collected the following information after its first year of sales. sales were 1500000 on 100000
Quillen Company is performing a post-audit of a project completed one year ago. The initial estimates were the project would cost $250,000, would have a useful life of 9 years, zero salvage value, and would result in net annual cash flows of $46,0..
Find an article on using the cloud with AIS. Articles should address current technologies and/or emerging trends
the "Dual Track" approach is a method of accounting used in government for the purposes of simplified reporting. What does it mean to run your accounts on the ‘Dual Track' approach?
complete the table to compare the effects of dropping the ski line of products. enter all amounts as positive numbers
Memo on Capitalization of Cable Equipment
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