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Question - On April 1, 20x1, an entity issues bonds with face amount of 5,000,000 for 5,415,183 including accrued interest. The bonds are dated January 1, 20x1 and pay annual interest of 14% every December 31. The effective interest rate is 12%.
Requirements -
a. Compute for the initial carrying amount of the bonds.
b. Provide the entry on April 1, 20x1 to record the issuance of the bonds.
c. Compute for the interest expense in 20x1.
Explain what the revenue recognition principle is and explain what the matching principle is.
tiana shar the controller for bondi furniture company is in the process of analyzing the overhead costs for the month
The company uses the straight-line method to amortize intangibles. Prepare entries to record the purchase of the copyright
Actual production was 18,000 masks using 9,500 machine-hours. Actual variable overhead costs were $20 per machine-hour. Calculate the variable overhead rate
Prepare a PowerPoint presentation of 10-15 slides in which you summarize what you have learned regarding the international accounting standards of your chosen foreign country as well as of the company you selected.
On December 31, 2017, Wildhorse Company signed a $1,105,800 note to Sheffield Bank. The market interest rate at that time was 11%.
Compute the amount of goodwill purchased, Record the purchase in a financial statements model like the preceding one.
Summarize the Coca-Cola case expanding upon consumers perspective on soda consumption. Three (3) dilemmas are presented within the case.
Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income. Ignore earnings per share
Calculate the December 31st ending inventory balance.
Compute the cost of goods transferred out and the cost of ending inventory using the FIFO method
discuss the difference between the depreciation described above and depreciation in accounting sense
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