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Problem 1: On March 31, 20x7, EASY issued for P1,774,000, P2,000,000 face amount of its 10%, P1,000 bonds. The bonds were issued to yield 12%. The bonds are dated July 1, 20x7 and mature on July 1, 20x10. Interest is payable annually on July 1. EASY uses the interest method to amortize bond discount. Determine the carrying value of the Bonds on December 31, 20x7.
Biscay Bay Boats established a petty cash fund for minor day-to-day expenses. Following are activities related to this fund. Prepare the necessary journal entries for petty cash.
What is the annual amount of FUTA and SUTA taxes due for each employee
What amount will Clancey receive when it issues the bonds
Prepare the journal entry to record the exchange on Smith's books, assuming the transaction has commercial substance. Prepare the journal entry to record the exchange on Smith's books, assuming the transaction does not have commercial substance.
Submit your budget to the store manager with no more than a 700-word write-up for the budget. The write-up must include risks associated with sales forecasts and an analysis of ethical considerations in the preparation and subsequent use of the bu..
We suppose that the zero-coupon curve increases instantaneously and uniformly by 0.5%. What is the new price and the new yield to maturity of the bond
Accounts payable decreased by $14,200. Calculate the Change in working capital, and indicate whether it increased or decreased
Explain 2 different types of budgets, and discuss why a company would choose one type of budget over another.Discuss the advantages of zero-based budgeting
What is the amount of the accrued liability for compensated absences that should be reported at December 31, 2005?
In Example 13.4 of section 13.5, we examined whether an M/M/1 system with a single fast server is better or worse than an MMs system with several slow servers.
The production manager requisitioned and received 2,350 pounds of raw material, Prepare the General Journal entries for January
A city is preparing its cash forecast for the month of May Using the following information compute the estimated cash receipts from sales tax collections in May.
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