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On January 1, 2018, Sage Corporation issued $560,000 of 7% bonds due on January 1, 2026 when the market rate was 5%. The company uses the effective interest method to amortize any bond premium or discount. The bonds pay semi-annual interest on June 30 and December 31 of every year.
Problem 1: What is the journal entry to record the issuance of the bonds?
Problem 2: Prepare all journal entries that will be recorded by Sage Corporation for the 2021 year.
Cherry incurs organizational expenditures of $54,000. Determine Cherry Corporation's deduction for organizational expenditures for 2019
The cost to place one order for Material A is P8.00 and the annual cost to carry one material is P2.00. Compute the economic order quantity for Materials A
The company incurred no cost related to these earnings for federal unemployment tax but incurred $777 for state unemployment tax.
Collection of accounts written off in prior years (customer credit was reestablished) 7,750. What is the balance in Allowance for Doubtful Accounts at December
The production budget calls for producing 5,000 units in May and 5,400 units in June. If the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the tw..
explain the types and payment patterns of notes. provide examples of current types of
During 2019, an entity constructed a new building at a cost of P30,000,000. What amount of interest is capitalized as cost of the new building
jack sawyer is presently leasing a copier from john office equipment company. the lease requires 11 annual payments of
Income Statement (with cost of goods sold adjustment). Please prepare an income statement for year ended December 31. Rambler Company had the following activity
Compute the depreciation expense for the year ended December 31, 2016. McPherson elected to depreciate the building on a straight-line basis
Preferred dividends declared 48300 and Common dividend declared 10600. What would Crane report as the ending balance of Retained Earnings
Problem 1: Find the average time in the line if 2, 3, and 4 clerks are used. Problem 2: What is the total time spent waiting in line each day if 2, 3, and 4 clerks are used?
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