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Horton Enterprises issued $100,000, 10 year, 6% bonds payable on 1/1. Interest is payable each 6 months 1/1 and 7/1. The discount or premium is amortized using the straight line method. Journalize the issuance, first interest payment, and redemption of the bonds at maturity under the three conditions listed: Journalize the issuance at par value. Journalize the selling price of $90,000 when the market rate is 7 %. Journalize the selling price is $105,000 when the market rate is 5.5%. Which condition results is the most interest expense? Why?
A private-purpose trust fund sold investments in securities having a carrying value of $23,000 for $26,000, resulting in a $3,000 gain on the change in value. If there are no trust provisions to the contrary, the gain is generally??
If you purchased $6000 of inventory for cash; later in the same year one-half of the inventory was sold for $4000 on account. What would the amount of net income and net cash flow from operating activities.
During the year, ABC LP generated a ($90,000) loss. How much of Sue's loss is disallowed due to her tax basis or at-risk amount?
Describe the maturity matching principle. What are the risks of not matching maturities? How would you characterize a firm that ignores the principle? Can you think of situations in which it would be advisable for an otherwise prudent firm to dev..
What are the factors that lead to a valuation of a company's worth compared to that of the financial statements? How do company executives create the most value for all stakeholders?
compute the depletion expense in 2013 and 2014 for financial accounting purposes. what accounts will be diebited and
abc company has office furniture that cost 40000 an estimated life of 10 years and a 4000 salvage value. as of january
1. in two to three paragraphs describe the sarbanes-oxley act and why it is important to the accounting profession.2.
the thomas supply company inc. is a distributor of gas-powered generators. as with any business the length of time
If sales for April, May, and June were $60,000, $80,000, and $70,000, recpectively, what were the firm's budgeted collections for June?
How should governments report their capital projects and debt service activities in their government-wide statements?
What types of situations result in troubled debt? What are some of the general rules for recognizing gain or loss by both parties in a troubled debt situation? How would you report these gains or losses?
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