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On January 1, 2014, the Town of Walton issued $ 5,000,000 of 4% tax supported bonds. The bonds are dated January 1, 2014 with interest payment dates of June 30 and December 31. The first of 10 annual principal payments is due on December 31, 2014. The bonds were sold at a $48,000 premium that was transferred to the Debt Service Fund from the capital projects fund to be used to fund the first payment. Cash sufficient to cover interest and principal payments for the year less the premium is transferred from the General Fund on June 1st.
Required: Record any and all entries to be made by the Debt Service Fund for the bond issued for the year 2014 (including closing entries)
seagren industries inc. manufactures in separate processes furniture for homes. in each process materials are entered
On January 1, 20X1, Pagoda Pond Construction acquired a small excavator for $180,000. This device had a 4-year service life to Pagoda, at which time it is expected that the equipment will be sold for a $20,000 salvage value: Pagoda uses the double-de..
Finlon applies manufacturing overhead to production on the basis of direct-labor cost. (The budgeted direct-labor cost is the company's practical capacity, in terms of direct-labor hours, multiplied by the budgeted direct-labor rate.)
Determine net income under each approach and calculate the quality of earnings ratio under each approach and explain your findings.
Evaluate the company's contribution margin (CM) ratio and Estimate the change in the company's net operating income if it were to increase its total sales by $1,000.
On February 15, 2013, Leo purchased and placed in service a new car that cost $23,750. The business use percentage for the car is always 100%. He does take the additional first-year depreciation. What MACRS convention applies to the new car?
some transactions are reported in a different way in funds versus government-wide statements but other is not.the state
Provide the appropriate journal entries, assuming that Jerry Lopez takes two weeks annual leave after being employed for one year and assuming that the tax deductions from the payment for the two weeks is $1200.
Now suppose that Hunter considers the time value of money for all cash flows that he expects to receive one year or more in the future. Which alternative does this consideration favor? Why?
question millar inc. purchased a truck to use for deliveries and is attempting to evaluate how much depreciation
Hired as a consultant for ABC Investment Group
The liability policy was $63,000 for eighteen-months, and the crop damage policy was $24,000 for a two-year term. What was the balance in Eve's prepaid insurance as of December 31, 2012?
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