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Kelly issues $315,000 of 4%, 15 year bonds dated january 1, 2009, that pay interest semiannually on june 30 and december 31. They are issued at 253,263, and their market rate is 6% at the issue date.
1. prepare the january 1, 2009, journal entry to record the bond's issueance2. determine the total bond interest expense to be recognized over the bonds life.3. prepare an effective interest amortization table for the bond's first two years.4. prepare journal entries to record the first two payments.
She also has another 250 units in her van, ready to deliver per a customer order, terms FOB destination, and another 70 units out on consignment to a friend who owns a retail store. How many units should Jenny include in her company's period-endin..
The two main types of pension plans are defined benefit plans and defined contribution plans. Explain the difference between the two. How does the accounting for each differ?
Would the use of accelerated depreciation in the financial statements be more conservative or less conservative than the current practice of using the straight-line method? Explain.
Discuss how to calculate how much Marbury Bank loaned to the maker of the note and how must Marbury would receive when the note was rediscounted.
Under a perpetual inventory system, record all of the journal entries required for the above transactions
On January 1, Pucket company paid 1.6 million for 50,000 shares of Harrison's voting common stock, which represents a 40 percent investment.
A non profit company sells a pair of shoe that has a cost of $2.00 for the price of $102.00. The gross profit is 100%. The tax libility is 37%. What is the formula to reduce the tax liability to 0%
Donald Corporation owns machinery with a book value of $670,000. It is estimated that the machinery will generate future cash flows of $560,000.
Determine net income assuming 1000 haircuts are given each month.
When Medicare and Medicaid were created, reimbursement of services changed. These entities comprised a very large portion of a health care provider's business. Explain how Medicare and Medicaid have affected cost-setting for a health care organiza..
Which of the following is accounted for as a change in accounting principle?
Compute basic and diluted EPS for the year ended December 31, 2009.
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