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Septer Corporation issued 2,000 of its $1,000, 8% ten-year bonds dated July 1, Year 1. On September 1, Year 1, at a time when the market paid 9% for bonds of similar risk. The bonds were quoted at 94 and pay interest quarterly on September 30th and December 31st. What were the total proceeds of the bond issue at the time of sale?
A. $2,000,000
B. $1,880,000
C. $1,906,667
Swanson Inc. purchased $400,000 of Malone Corp. ten-year bonds with a stated interest rate of 8 percent payable quarterly. At the time the bonds were purchased
Thompson's Jet Skis has operating cash flow of $218. Depreciation is $45 and interest paid is $35. A net total of $69 was paid on long-term debt. The firm spent $180 on fixed assets and increased net working capital by $38. What is the amount of t..
Once the convergence of US GAAP and IFRS has been completed, should US companies restatement their financials for a better comparsion for prior years? Why/why not?
Your firm has clients named Danny and Mary. They are married and have two dependent children. They also fully support Mary's mother, who lives with them and has no income.
Prepare the appropriate entries for the declaration and distribution of the stock dividend.
Make the required end-of-period adjusting entries for each independent case listed below.
Which of the following industries would normally use job order costing systems and which would normally use process costing systems?
Sears collected $57000 from the issuance of bonds with a face value of $50000. A portion of the cash receivable, $2000 was accrued interest. give the journal entry made on sears book to account the issuance of the bonds.
Manufacturing overhead is applied to jobs on the basis of direct labor costs using a predetermined overhead rate. The actual manufacturing overhead cost for the year was $172,000.
Compute CollegePak's break-even point in sales dollars for the year. Compute the number of sales units required to earn a net income of $180,000 during the year.
At the break-even point of 1,500 units, variable costs are $60,000, and fixed costs are $30,000. What would operating income be if 1,501 units are sold?
How does a customer benefit by our spending $50,000 on a supposedly better accounting system?" How should the controller respond?
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