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On may 1,2012 company purchased $66,000 of 5%,12 year lincoln company bonds at par two months accured interest. The bond pay interest on march 1 and septmber1. on october 1,2012,todd copany sold $24,000 of lincoln company bonds acquired on may 1. plus one month accured interest.on december 31,2012, four omnyhs interst was acuured for the remaining bonds. Determine the interst earned by todd company on lincoln company bonds for 2012.
Please help me explain the following concepts: A conclusion stating how you think sound financial reporting depends on principles, assumptions, and constraints. Refer to the U.S. GAAP in your response.
Applied overhead at month-end to the Goods in Process (Jobs 137 and 140) using the predetermined overhead rate of 200% of direct labor cost.
Jeffery and Cassie, who are married with modified AGI of $90,000, are sending their son to his first year of college. Their total tuition and related payments during 2013 amounted to $5,500.
Zigs Industries had the following operating results for 2011: sales = $27,960; cost of goods sold = $19,360; depreciation expense = $4,940; interest expense = $2,190; dividends paid = $1,050.
On August 31, 2008, Devs Autoparts Company sold $8,000 worth of parts to Metro Repair Company. The terms of the sale were n/90. Devs receivable policy is to start charging interest of 9% (annually) on all balances over 90 days. Interest is accrued..
Determine ending inventories of Direct Materials, Work In Process, and Finished Good, Draft an insurance claim letter for the controller,seeking reimbursment for the damage to invemtory.
Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)
What would incomplete units physically look like at the end of any given part of the process? For example, at the end of the distillation process and then at the end of the final bottling process
The heating division of ITA International produces a heating element that it sells to its customers for $42 per unit. Its variable cost per unit is $19, and its fixed cost per unit is $10. What is the minimum transfer price that the heating divisio..
The January 1 inventory of supplies in an Internal Service Fund is $9,000. The fund purchases $23,000 of supplies during the year. The December 31 inventory of supplies is $6,000. If the pricing objective of the fund is to be achieved, what dollar..
What is the difference between operating and nonoperating items? And why do we show the difference in the financial statements?
Would you answer in above question be different if the shareholder had also lent the subchapter S corporation cash in an amount in excess of the shareholders' allocable share of losses and deductions, and if so how?
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