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On Jan 1, Joplin City issued 10% serial bonds at par to finance streetlights in an area recently incorporated in the city limits. The face amount of the bonds is $1,200,000; interest and principal is payable annually on January 1, and bonds are to be retired in equal amounts over 6 years from collections from assessments against property affected.
REQUIRED:
a. Record the journal entry at year end to recognize the matured portion of the bond and to recognize interest due
b. On Jan 1, year two, record the journal entry to pay the first year's installment plus interest on the bond.
Concerning the government-wide statement of net assets, describe what information is included in the governmental activites column, the business type activities column, and the column for the total primary government.
the president of deanza-foothill company is puzzled. during the last year the company experienced a net loss of 800000
Suppose a stock had an initial price of $83 per share, paid a dividend of $1.40 per share during the year, and had an ending share price of $96.
sometimes adjusting entries are first made on a work sheet and then are recorded in the general journal from which they
product cost abc company believes that it has an additional 5000 machine hours available in the current facility before
I can be almost as accurate, at virtually no cost, using the random walk model to forecast earnings." What is the random walk model? Do you agree or disagree with John Right's forecast strategy? Why or why not?
Barrett's Fashions forecast sales of $125,000 for the quarter ended December 31. Its gross profit rate is 20% of sales, and its September 30 inventory is $32,500. If the December 31 inventory is targeted at $41,500, budgeted purchases for the four..
Coral Gables Electronics is considering reorganizing its plant into manufacturing cells. The company has the following information:
If the manager of the Eastern Division is evaluated on return on investment alone, will the manager invest in the new project? Explain.
1. kimye corporation e amp p of 700000 has 1000 shares of stock outstanding. stewart owns 400 shares lupe stewarts
at the end of the prior year tasha inc. had a deferred tax asset of 21000000 attributable to its only timing
The company's cash balance decreased $193 million with cash flows from operating activities (+$7.7 billion), investing activities (-$7.6 billion), and financing activities (-$207 million). Discuss possible explanations for these financial results.
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