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On January 1, 2008, Boston Enterprises issues bonds that have a$3,400,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par.
How much interest will Boston pay (in cash) to the bond holder severy six months?
Prepare journal entries to record (a) the issuance of bonds onJanuary 1, 2008; (b) the first interest payment on June 30, 2008;and (c) the second interest payment on December 31, 2008.
Prepare the journal entry for issuance assuming the bonds areissued at (a) 98 and (b) 102.
The appraised value of the property is 490,000 and of the warehouse is 980000. Prepare the entry by cheng for the receipts of the properties.
According to the textbook author, potential investors need information that is: a) relevant and reliable. b) fair and future-oriented. c) accurate and truthful. d) audited and complete.
Year to date, the actual overhead is $15,500,000 and the actual machine hours are 220,000 hours. If the Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, what is that overhead rate?
A.The character of any income or loss will be ordinary regardless of when the contributed property is sold by the partnership and regardless of the character of the asset in the hands of the partnership.
Name the steps in completing the accounting cycle and explain how they impact the financial statements. What happens is a step is missed? Explain.
Prepare all journal entries to record the preceding information. How the accounts related to BBB's factoring and assignment agreements be reported on BBB's year end financial statements
The primary purpose of the statement of cash flows is to provide information about a companys: a. cash receipts and cash payments. Corporations should record dividends as a direct charge to retained earnings
The actual cost for plane operating costs in September was $214,430. The activity variance for plane operating costs in September would be closest to:
Davis Corporation has a sales budget for next month of $600,000. Cost of goods sold is expected to be 30 percent of sales. All goods are purchased in the month used and paid for in the month following purchase.
Alpha, Inc. issued $100,000 of its 7% fiveyear bonds on January
In 2011,Bodily Corporation reported $300,000 pretax accounting income.The income tax rate that year was 30%.Bodily had an unused $120,000 net operating loss carry forward from 2009 when the tax payable rate was 40%. Bodily income tax payable for 2..
The company expects to incur $56,400 of total inspecting costs this year. How much of the inspecting costs should be allocated to the Beginner model using ABC costing?
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