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Problem 1: On March 1, 2010, Pyne Furniture Co. issued P700,000 of 10 percent bonds to yield 8 percent. Interest is payable semiannually on February 28 and August 31. The bonds mature in ten years. Pyne Furniture Co. is a calendar-year corporation. Compute the interest expense to be reported in 2010.
Problem 2: On its December 31, 2000 balance sheet, Molo Corporation reported bonds payable at P8,000,000 and related unamortized bond issue cost of P430,000. The bonds had been issued at par. On January 2, 2001, Molo retired P3,200,000 of the outstanding bonds at par plus a call premium of P200,000. What amount should Molo report in its 2001 income statement as loss on extinguishments of debt?
Partner A is to receive $100,000 in retirement of her partnership interest. How much income must A report in Year 1 if an election to apportion gain is made
In your own word please answer these three questoions. This is seriosly the tenth time i posted these three questions please dont plagierize this professor.
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A violation of the profession's ethical standards most likely would have occurred when a CPA:
assume that a company issues bonds with a 100000 face value at 100 and must pay 5000 of costs associated with the
BUACC5932 Corporate Accounting Assignment Help and Solution, Federation University, Australia. Describe the core business of the company
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