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On june 1, 2011, kirby, inc. issued $3,000,000, 6% bonds for $2,938,200, which includes accrued interest. Interest is payable semiannually on February 1 and August 1 with the bonds maturing on February 1, 2021. The bonds are callable at 102.
Kramer has two primary bank accounts. At December 31, 2012, one of these accounts had bank overdrafts that caused the balance to have a negative balance of 100,000. The other bank account had a balance greater than 500,000. Kramer recorded the 100..
On May 1, 2010, Stanton Company purchased $50,000 of Harris Company's 12% bonds at 100 plus accrued interest of $2,000. On June 30, 2010, Stanton received its first semiannual interest. On February 1, 2011, Stanton sold $40,000 of the bonds at 103..
The General Fund, a Special Revenue Fund, or an Enterprise Fund. Indicate the circumstances in which each of these fund types might be appropriate.
madison industries has equivalent units of 4000 for materials and for conversion costs. total manufacturing costs are
Botkins issued 56,000 new shares of its common stock valued at $3.25 per share for all of the outstanding stock of Volkerson. Assume that Botkins acquired Volkerson on January 1, 2010. At what amount did Botkins record the investment in Volkerson?
The following table lists the stockholders equity accounts appearing on the balance sheet of a corporation on Dec. 31, 2008. Answer the questions below the table.
Valence Enterprises received a $5,100 check from a customer for the balance due. The transaction was erroneously recorded as a debit to Cash $1,500 and a credit to Service Revenue $1,500.
if a firms forecasted sales are 250000 and its break-evensales are 190000 the margin of safety in dollars ischoose one
you have 5000 you want to invest for the next 45 years. you are offered an investment plan that will pay you 6 percent
1. When pre-tax financial accounting income is a different amount than taxable income, what are the various accounts needed on the balance sheet? Explain how the amounts in those accounts are calculated and how they are displayed on the balanc..
Woody Corp. had taxable income of $8,000 in the current year. The amount of MACRS depreciation was $3,000 while the amount of depreciation reported in the income statement was $1,000. Assuming no other differences between tax and accounting income..
in the month of june jose heberts beauty salon gave 4000 haircuts shampoos and permanents at an average price of 30.
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