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On January 1 of year 1, congo express airways issued 3,250,000 of 7% bonds that pay interest semiannually on January 1 and July 1. the bond issue price is 2,969,004 and the market rate of interest for similar bonds is 8%. The bond premium or discount is being amortized at a rate of 9,367 every six months.
Question 1: The amount of interest expense recognized by congo express airways on the bond issue in year 1 would be
It is quite possible for costs that once were fixed to become variable, often because of management decisions. Cite a clear example (not directly from the textbook) of a cost that is becoming more variable than it has been in the past, and give reaso..
Kinkos wrote off $10,650 of receivables as bad debts during 1999. What amount of bad debt expense was recognized for the year 1999?
On June 1, 2014, Mink Company issued $12,000,000 of 10 percent bonds to yield 12 percent. Interest is payable semiannually on May 31 and November 30. The bonds mature in 15 years. Mink Company is a calendar-year corporation. Determine the issue price..
Could this lack of clarity in its financial reporting serve as a red flag in alerting you to the possibility of fraud at Enron?
Calculate the total amount of cash dividends paid in the fourth quarter and calculate the number of shares of stock issued in the stock dividend.
the first two years and $30,000 for the following two years. What is the internal rate of return
Desmond Drury and Ty Wilkins have decided to form a partnership. They have agreed that Drury is to invest $27,300 and that Wilkins is to invest $63,700. Drury is to devote full time to the business, and Wilkins is to devote one-half time. For each pl..
Anna Garden recently opened her own basketweaving studio. She sells finished baskets in addition to the raw materials needed by customers to weave baskets of their own. Anna has put together a variety of raw material kits, each including materials at..
Logan Products computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year, it estimated that 41,000 direct labor-hours would be required for the period's estimated level of production. Compute t..
Direct Labor Variances The following data relate to labor cost for production of 20,000 cellular telephones: Actual: 8,450 hrs. at $22.50 Standard: 8,400 hrs. at $23.00 a. Determine the direct labor rate variance, direct labor time variance, and tota..
What is the total contributed capital at December 31, 2018? What was the net income (loss) earned for the year ended December 31, 2018?
Assume the auditor rounds the sampling interval down to the next nearest $5,000. Calculate the approximate largest sample size the auditor would expect.
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