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Garr Co. issued $5,000,000 of 12%, 5-year convertible bonds on December 1, 2010 for $5,020,800 plus accrued interest. The bonds were dated April 1, 2010 with interest payable April 1 and October 1. Bond premium is amortized each interest period on a straight-line basis. Garr Co. has a fiscal year end of September 30.
On October 1, 2011, $2,500,000 of these bonds were converted into 35,000 shares of $15 par common stock. Accrued interest was paid in cash at the time of conversion.
FASB has special rules for reporting on private health care organizations. And of course, if the health care organization is associated with government (as an SPE), then GASB rules. What are the similarities and differences in the accounting pract..
Lea Mediators, a not for profit religious organization suffered damages when a storm broke glass windows in Lea's building. A member of Lea's congregation, a professional glazier, replaced the windows at no charge. In Lea's statement of activities..
After completing her residency, an obstetrician plans to invest $10,000 per year at the end of each year in a low-risk retirement account. She expects to earn five percent for 35 years. What will her retirement account be worth at the end of these..
Mega Inc, has common stock and 6% preferred stock outstanding as follows: Preferred stock: 10,000 shares, $100 par value, cumulative. Common stock 50,000 shares, $50 par value.
Variable costs as a percentage of sales for Leamon Inc. are 66%, current sales are $612,750. and fixed costs are $189,751. How much will operating income change if sales increase by $49,790?
Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.) The December 31, 2010 balance sheet of Wolfe Co. included the following items:
Differentiate between the various rates of pay among the different major groups of employees, and include information about the differences between exempt and nonexempt employees. Discuss how wage and hour legislation has affected employment prac..
What is the distinctive difference between the United States focus on promulgating and implementing accounting principles and that of other countries?
Sue ask for you to prepare a well organized and formatted schedule showing what the variable manufacturing cost is as a percentage of total sales for each of the three product sales for 2007.
Use the appropriate information from the data provided below to calculate operating income for the year ended December 31,2011.
Upon examining the balance sheet of a large city, you notice that the total assets of the general fund far exceed those of the combined total of the city's ten separate special revenue funds.
What is the income reported by Regal during 2012 pertaining to the Air investment?
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