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On February 1, 2011, Wolf Inc. issued 10% bonds dated February 1, 2011, with a face amount of $200,000. The bonds sold for $239,588 and mature in 20 years. The effective interest rate for these bonds was 8%. Interest is paid semiannually on July 31 and January 31. Wolf's fiscal year is the calendar year. Wolf uses the effective interest method of amortization. Required:1. Prepare the journal entry to record the bond issuance on February 1, 2011.2. Prepare the entry to record interest on July 31, 2011.3. Prepare the necessary journal entry on December 31, 2011.4. Prepare the necessary journal entry on January 31, 2012.
The president says to choose the allocation base that results in the highest income. Is this an apporiate basis for choosing an allocation base?
During the past two years the following selected transactions occurred for Bass Boats Inc.
What is the purpose of the Statement of Cost of Goods Manufactured?
the following information relates to tom a single tax-payer age 18salary 1800interest income 1600itemized deductions
during 2009 the ellis corporation had 370000 shares of 20 par common stock outstanding. on january 1 2009 2000 8
Directions: Prepare a federal gift tax return (Form 709) based on the following information for Wanda Bickford. Use the 2013 Gift Tax forms. Bill agrees to gift split.
The cost of not taking the cash discounton trade credit of 3/10, net 30 is equal to:
Rica's Fleet Feet, Inc., produces dance shoes for stores all over the world. While the pair of shoes are boxed individually, they are crated and shipped in batches. What is the static budget and flexible budget number of crates for 2008?
jobnbsp728 was recently completed. the following data have been recorded on its job cost sheetdirect
Old Alabama Company purchased investments for $45,000 and plant assets for $127,000 during the current year, during which it also sold plant assets for $66,000, at a gain of $6,000. The company also purchased treasury stock for $78,000 and sold a ..
Prepare cost goods sold statement and calculate the following ratios:
the information below is taken from the december 31 2014 adjusted trial balance of rummer company all numbers are
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