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Question - DISTAFF & SPEAR, Inc., issued $250,000 of 8%, 15-year bonds at 104 on July 1, 2007. Interest is payable semi-annually on December 31 and June 30. Through June 30, 2014 DISTAFF & SPEAR amortized $3,186 of the bond premium. On July 1, 2014 DISTAFF & SPEAR retired the bonds at 99.
Required - Prepare journal entries to record the (i) issue and (ii) retirement of these bonds. (Assume the June interest expense has already been recorded.)
Suppose a company manufactured 100,000 units in the month of August, exclusive of spoilage allocation. Of these completed units, 50,000 units were sold.
Question - Determine the amount of cash collected at the time of making a cash sale of $7,450 worth of merchandise subject to 13%
Prepare a schedule for Northfield to compute the annual interest expense in regard to the preceding note for each year of the restructuring agreement
Calculate the maximum CCA deduction allowed, ending UCC balance(s), and confirm whether or not there is a capital gain or capital loss
he sales invoice is dated October 1, 2020 for $3,000 of tea and tapioca pearls. Determine the beginning and end date of the discount period
Prepare the journal entry to record the payment of interest and the amortization of the premium on July 1, 2011, assuming no accrual of interest on June 30.
What the cash paid for salaries and wages during 2014 was? Balances (all normal balances) have been excerpted from Thompson Corporation's balance sheets
Prepare all the journal entries necessary to record these transactions in the appropriate governmental type fund(s) and identify the fund(s) used.
On that same date, the company had 420,315,589 shares issued, of which 70,291,514 shares were in treasury. Estimating the Weighted Average Cost of Capital
Explain why the chain moved to the average cost flow assumption. How can this assumption help it to "better maintain its net income"?
A car dealer must pay $20,000 for each car purchased. The annual holding cost is estimated to be 25% of the dollar value of inventory. The dealer sells an average of 500 cars per year.
Assume the same facts as in part (b), except that net income included an extraordinary gain of $864,000 and a loss from discontinued operations of $432,000. Both items are net of applicable income taxes.
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