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Not sure on how to calculate and record. On Feb. 28,2012 Ace Company sold 8,000,000, 9%, 10yr bonds to purchase a new production machine. Bonds of similar risk and length have a current market rate of 8%. Can you answer the following questions & show how you got it please. Thanks so much for your help 1.Record the journal entry to sell the bonds and purchase the equipment 2.Record the first semi-annual interest payment. 3.Show how the bond would appear on the Dec 31, 2011 B.S.
which has very large E&P, distributes $540,000 in redemption of 300 shares of XYZ Company stock from Ed's estate. What is the estate's income from the redemption?
What was the amount of Stoop's earnings that should be included in calculating consolidated diluted earnings per share?
Brigham is single, in the 33% marginal income tax braket, and has the sales or exchanges below. At the beginning of the year, he has nonrecaptured net Sec.1231 losses of $10,000. Determine the increase or decrease in Brigham's tax liability as a r..
Long Term Liabilities and Noncollectable Accounts
matthews delivery service inc. completed the following transactions during its first month of operations for january
During the month, 6,000 units of product were manufactured and 5,500 units of product were sold. On May 1, George's carried no inventories.
On February 1, 2011, Charo Mendez purchased 6% bonds issued by CR Utilities at a cost of $30,000, which is their par value. The bonds pay interest semiannually on July 31 and January 31. For 2011, prepare entries to record Mendez's July 31 receipt..
garza and neely cpas are preparing their service revenue sales budget for the coming year 2012. the practice is divided
the macarthur company is a retail sporting goods store. facts regarding their operation are as follows sales are
Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating activity (indirect method), investing activity,
What are the major objectives of financial reporting? Who are the users of financial reporting? What type of information will each user group need? Why?
During 2004, Yvo Corp. installed a production assembly line to manufacture furniture. In 2005, Yvo purchased a new machine and rearranged the assembly line to install this machine. The rearrangement did not increase the estimated useful life of th..
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