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Record the journal entries needed in an Enterprise Fund to record the following transactions. Include any adjusting entries required.
Transaction 2.
Paid the $8,000,000 into an irrevocable trust to defease in substance the previously outstanding bonds payable of the Enterprise Fund. These old bonds have a par value of $7,200,000 and an unamortized discount of $100,000. The old bonds are scheduled to mature in six years.
(Learning Objectives 3, 5: Show the impact of transactions on the accounting equation; record (journalize and post) transactions in the books) Architect Aaron Ashton purchased supplies on account for $1,700. Later Ashton paid $425 on account.
On Jan 22. Issued a 90 day note payable 3% for $15,100. Calculate the adjusting journal entry on Jan 31 for the interest owed on this note. On Jan 2 Issued $100,000, 5-year, debenture 4% bonds with a yield of 6%. Interest payable semi annually on Jun..
Discuss whether the non-disclosure of information about operations in Pakistan and Nigeria would be material and prepare and analyse the statements in accordance to the requirements of AASB 101
Markum Enterprises is considering permanently adding $100 million of debt to its capital structure. Markum's corporate tax rate is 35%.a. Absent personal taxes, what is the value of the interest tax shield from the new debt?
Prepare any journal entries you consider necessary, including year-end entries (December 31), assuming these are available-for-sale securities.
Betterments are a type of capital expenditure
We will increase our advertising and provide some very attractive price concessions to move these machines. We have no choice. Newer technology is already out there, and we have to unload this inventory.
During 2012 Gates reported net income of $200,000 and reported dividends of $75,000. Illustrate what is the income reported by Dodge for 2012 with regard to the Gates investment?
Identify and strengths and/or weakness you identified in your analysis. and Any recommendations you feel are warranted at this time.
If Sal purchases the component from the supplier instead of manufacturing it, the effect on income would be? What is the maximum price Sal would be willing to pay the outside supplier?
Becky Dool just inherited a 1967 Ford Mustang from her late Aunt Cybil. Aunt Cybil purchased the car 40 years ago for $6,000. Becky is either going to sell the car for $8,000 or have it restored and sell it for $22,000. The restoration will cost $6,0..
Barbara and Bill formed an equal partnership, B&B, a general partnership, on January 1, 2015. Barbara contributed $100,000 in exchange for her one-half interest. Bill contributed land worth $100,000 that had an adjusted basis to him of $30,000 in exc..
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