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Question: Roney issues $120,000 of 6%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. They are issued at $99,247, and their market rate is 8% at the issue date.
Required: 1. Prepare the January 1, 2011, journal entry to record the bonds' issuance.
2. Determine the total bond interest expense to be recognized over the life of the bonds.
3. Prepare a straight-line amortization table like the one in Exhibit for the bonds' first two years.
4. Prepare the journal entries to record the first two interest payments.
advanced equipment leased equipment to richards chemical inc. on 93011. advanced purchased the machine from makers inc.
Prepare journal entries to record the following transactions entered, answer the questions in accounting basics.
At the end of March, 30,000 additional units were in process in the production department and were 100% complete with respect to materials and 30% complete with respect to labor. Compute the number of units transferred to finished goods.
Why have management consulting operations created problems for the public accounting industry? How has SOX affected these problems?
Eduardo Inc. was organized on July 1, 2009. A summary ofcash flows for July follows. Prepare a statement of cash flow for the month ended July 31,2009.
sales for the year were 600.000. accounts receivable were 100.000 and 80.000 at the beginning and end of the year.
Describe the differences between creditors and investors.
the trial balance of maritime company included the following account balances cash 25000 short-term investments 10000
The stockholdersequity section of Jun Company's balance sheet as of April 1 follows.
Judy, a cash basis taxpayer, leases office buildings to commercial tenants. During 2015, she receive $10,000 from various tenants a refundable damage deposits, $300,000 for 2015 rents, and $50,000 for 2016 rents. How much should Judy include in 2015 ..
As a new staff member at Micro Warehouse's auditing firm- write a memo outlining the effects of the understatement of purchases and the rescinding of the bonuses.
The author tries to explain how different countries differ widely when it comes to accounting systems because they have rules which differ from one country to the other and this brings the whole difference.
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