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Question 1: On June 30, 2016, Alpha Corporation issued $200,000 of 10% ten-year bonds at 103 on its semiannual interest date. Alpha uses the straight-line method for amortization. Use this information to determine the carrying value of this bond issue after adjusting entries have been made on June 30, 2019? Round your answer to the nearest whole dollar.
Question 2: On August 1, 2016, Alpha Company entered into a capital lease, and correctly recorded the leased asset, and related obligation at $50,000. The annual interest rate implicit in the lease was 6%, and the first lease payment of $2,000 is due at the end of each month of the lease. Use this information to prepare the General Journal entry (without explanation) for the August 31, 2016 monthly lease payment. If no entry is required then write "No Entry Required." (Round your answer to the nearest whole dollar.)
Discuss the motivation for excluding "non-productive" assets from invested capital when computing return. What circumstances justify excluding assets
Which of the following companies would not be a subsidiary undertaking of Red?
How do firms account for the wide range of intangible assets that frequently comprise a large proportion of the value in many business combinations? What is the difference, if any, between acquisition costs and direct combination expenses? What are s..
What is the product cost of providing one evening of instruction for all students and What is the product cost of training a student over the entire course?
Which regulatory body oversees the systematic risk in the banking industry?
Clear Sky Sailmakers manufactures sails for sailboats. The company has the capacity to produce 15,000 sails per year, but is currently producing and selling 10,000 sails per year.
If the bond will be issued at an effective rate of 9 percent per year, what is the current bond price? Please explain the answer in detail.
A company made the following merchandise purchases and sales during the current month: There was no beginning inventory. If the company uses the FIFO (first-in, first-out) perpetual inventory system, what would be the cost of the ending inventory? Wh..
What is the impact of accrued interest on accounting equation? Explain.
Grantham Corporation purchases 5% (200 shares) at $14 per share of stock in Douglas Corporation on January 1, 2015. Dividends are issued at $2 per share annually. Dividends are issued at $3 per share annually Please complete the journal entry for Dou..
Ellis issues 6.5%, five year bonds dated January 1, 2013, with a $250,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $255,333. The annual market rate is 6% on the issue date. Calculate the total bond int..
Record the necessary entries in the Journal Entry Worksheet below. Fighting Irish Incorporated pays its employees $5,600 every two weeks ($400/day). The current two-week pay period ends on December 28, 2015, and employees are paid $5,600. Record the ..
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