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Crocket Corp issues $200,00 of its 10percent bonds payable on April 1, 2030. The bonds were issued at face value, Interest is payable semi-annually, on 10/1 and 4/1. give the journal entries to issue the bonds and pay each of the first two interest payments to bondholders.
What is the latest date Kelley may reinvest in qualifying replacement property to defer recognition of gain as a result of the involuntary conversion?
Using the same concept selected above, discuss how a business manager may benefit from an understanding of this statement.
A purchasing agent makes a purchase and when the item is shipped it is delayed. Which department bears the cost of time lost in the plant due to the delay in shipment and should the plant manager be responsible?
Tomas and Saturn are partners who share income in the ratio of 3:1. Their capital balances are $80,000 and $120,000 respectively. Income Summary has a credit balance of $30,000. What is Tomas' capital balance after closing Income Summary to Capita..
Explain the impact of tax treatment legislation on employee disposable income and employer profits.
What is the value of a Northern Pacific bond with an 11 percent coupon, maturing in 15 years? Assume the market rate for this bond is 14 percent and that the interest is paid semiannually.
Gordon Company issued $1,000,000, 10-year bonds and agreed to make annual sinking fund deposits of $80,000. The deposits are made at the end of each year into an account paying 5% annual interest.
Fluff expected to use 1,000 direct labor hours. Fluff actually paid a wage rate of $12 per hour. The static budget variance equals the flexible budget variance for direct labor.
Millman Electronics will produce 60,000 stereos next year. Variable costs will equal 50% of sales, while fixed costs will total $120,000.
Suppose that instead of using a plantwide overhead rate, the company had used a separate predetermined overhead rate in each department. Under these conditions:
Many individuals believe that trade deficits are troubling economic condition which points out weakness in economy while trade surpluses are sign of strength and rising prominence for economy.
S Corp uses the following activity rates from its activity-bases costing to assign overhead costs to products.
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