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On January 1, 20xx, Alpha Corporation issued $800,000 of 10%, 30-year bonds to lenders at par (100). Interest is to be paid semiannually on July 1 and January 1. Journalize the following entries:
a) Issued the bonds.
b) Paid semiannual interest payments
c) Retirement of bonds, assuming interest expense is up-to-date.
The common shares have a market price of $22.50 per share on the grant date. Suppose Magnetic Optical expected a 10% forfeiture rate on the restricted shares prior to vesting Determine the total compensation cost.
which is the rate users pay to providers. For debt, we call this price the interest rate. For equity, we call this price the cost of equity. Discuss the four most fundamental factors affecting the cost of money.
Canoe Company uses a job order cost accounting system and allocates its overhead on the basis of direct labor costs. Canoe Company's production costs for the year were: direct labor, $30,000; direct materials, $50,000; and factory overhead applied..
Diane, the tool crib attendant, works eight hours a day, five days a week. Each order is for one small tool and each small tool takes Diane 2 minutes to retrieve from the bins. What is the average waiting time, in minutes?
During the preparation of the bank reconciliation for New Concepts Co., Peter Fikes, the assistant controller, discovered that City National Bank incorrectly recorded a $710 check written by New Concepts Co. as $170.
What is the relationship between tax base and tax rate in determining the revenue collected by the government? Give an example of how a particular tax would fit into the various components of the equation.
A company purchased 100 units for $20 each on January 31. It purchased 100 units for $30 on February 28. It sold 150 units for $45 each from March 1 through December 31.
Generally, companies follow one of two broad strategies: offering a quality product at a low price, or offering a unique product or service priced higher than the competition. Assume you are opening a small food outlet across the street from your cam..
Your client, Totally Toys, is a toy manufacturer. For several years, the company buried empty paint cans on its property. The paint was used in the production process.
LaFluer Corporation issued $400,000 of 15-year bonds on January 1. The bonds pay interest on January 1 and July 1 with a stated rate of 8 percent. If the market rate of interest at the time the bonds are sold is 10 percent, what will be the issuan..
When a change in the tax law or rates occurs, the effect of the change on a deferred tax liability or asset must be recognized as an adjustment as of the:
The stock warrants will expire on December 31, 2008. Select the total value that Chase Corp should use to record the detachable warrants issued on March 1, 2006.
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