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Question - Ayayai Corporation purchased trading investment bonds for $43,000 at par. At December 31, Ayayai received annual interest of $1,720, and the fair value of the bonds was $40,200.
Make Ayayai's journal entries for (a) the purchase of the investment, (b) the interest received, and (c) the fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.)
What journal entry should be made at the beginning of the fiscal year to reestablish the Encumbrances account of a capital projects fund for a multi-year capital project?
Acting as financial advisor to the board, you have been asked to report briefly on each option and, considering the board's wishes, make a recommendation. Discuss the effects of each of the foregoing options.
Gomez company issues $9,000,000 of bonds with a coupon rate of 8%. What is the proper entry for this transition
List and describe three actions a firm can take to reduce the risk of bad debt expense. Describe the potential costs involved with these steps
Prepare an income statement for external users. Do you need to prepare a sup- porting statement of cost of goods manufactured? Explain.
Roulette. An observer at the roulette wheel in Monte Carlo notices that there seems to be no pattern to the num- bers that come up during an entire evening. Is this an ex- ample of special- or common-cause variation? Explain.
Pizza prices, part 2. The weekly prices of one brand of frozen pizza over a three-year period in Chicago are provided in the data file. Use the price data to answer the following questions.
Calculate the maximum depreciation expense, rounded to the nearest whole number (ignoring section 179 and bonus expensing)
Chipco paid $15 million of foreign taxes on its foreign-source manufacturing profits and $2 million of foreign taxes on its foreign- source passive investment income. Assume that the U.S. tax rate is 35%.
Their net profit margin for the year was 20 percent, while the operating profit margin was 30 percent. What are Cisco's net income, EBIT ROA, ROA, and ROE?
Recalculate annual depreciation for years 20X1-20X5, and the accumulated depreciation as at the end of year 31/12/20X5
If Jackson Tires's tax rate is 40%,How much value did its management create or lose for the firm during the year (rounded to the nearest whole dollar)?
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