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• december 20-received 10500 for legal services rendered to clients.• december 22-paid advertising 3600.• december 24-billed clients for professional services 16400.• december 25-purchased desktop from micro system 60000 on account.• december 26-micro system was partially paid 45000.• december 27-collected accounts from various clients 7500.• december 28-the salary of legal secretary was paid 5500.• december 29-nestor martel withdrew 12000 for personal use.
Prepare the journal entry for the payment of interest and the amortization of discount on December 31, 2012 (the third year), and determine the balance sheet presentation of the bonds on that date.
Carry's Company bonds have a 12% coupon rate. Interest is paid semi-annually. The bonds have a par value of $1,000 and will mature 8 years from now. Compute the value of the bonds if investors' required rate of return is 8%.
Proceeds from the bonds were used to repay the note when it came due. How should Cali classify the note in its December 31, year 2 financial statements?
Prepare a trial balance with the accounts arranged as illustrated in the chapter, and fill in the missing amount for Cash and prepare an income statement, a retained earnings statement, and a classified balance sheet for the month of July 2012
What amounts would Coca-Cola report for long-term debt (1) on the face of its December 31, 2012 balance sheet and (2) and on the income statement with respect to the note's fair value change?
A joint cost of producing two products can be allocated between those products on the basis of the relative physical quantities of each product produced. The master budget consists of three major groups of budget components: the operating budgets, t..
Overhead variance Fixed And variable - determine the total, controllable, and volume overhead variances.
How would you go about indicating to investors that all account balances are valid and free from potential errors? What types of financial records and information would you use to support your claims? Explain. Use and cite references used.
At what value should the company capitalize the building and would your answer change if the bid from the outside contractor had been $80,000? $60,000?
What was the effect on income from capitalizing interest and compute times interest earned for 2008 and 2007. Comment on the absolute amounts and the trend.
Determine amount of the amortization or depletion expense for the current year for each of the foregoing items.
Provide an analysis of the accounting for each fixed asset item using US GAAP and IFRS. Assume the Company uses straight-line depreciation for all its fixed assets and takes a full year of depreciation in the year of the addition.
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