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Q1. On January 1, a company issued 10%, 10-year bonds with a par value of $720,000. The bonds pay interest each July 1 and January 1. The bonds were sold for $817,860 cash, based on an annual market rate of 8%. Prepare the issuer's journal entry to record the first semiannual interest payment assuming the effective interest method is used.
Q2. On January 3, Kostansas Corporation purchased 5,000 shares of Morton, Incorporated for $40 per share. These shares represent a 40% ownership in Morton, Incorporated. Prepare the journal entry Kostansas Corporation should record for the purchase of this investment.
a company pays for advertising space in the local paper for ads to be run during the months of January
Does the AICPA Code of Professional Conduct discuss the collegial responsibilities of CPA firms?In your opinion,were representatives of either Ernst & Young or Kenneth Leventhal &Company unprofessional in this regard during their congressional tes..
cassidy manning is assistant controller at lemar packaging inc. a manufacturer of cardboard boxes and other packaging
Calculate the weighted average number of shares outstanding for Wildhorse for the year ended December 31, 2020
What are the substantive procedures you would perform to obtain evidence in relation to the existence of airplanes other than physically inspecting the airplane
The Woodworks manufactures and sells tables. Each table sells for $25.00 and the variable cost per unit is $15.00. Woodwork's total fixed costs are $25,000.
When the business collected $12,000 in advance three months ago, Journalize the adjusting entry needed at year-end for each situation
Assuming the fund will earn 10% compounded annually, determine the equal deposits required to accumulate $500,000 in the fund by the time Mr. X is 65
macys inc. formerly federated department stores inc. operates more than 880 department and furniture stores under the
During the year, the company produced 20,000 units and sold 16,000 units. Compute the net income under absorption costing method
Phyllis sued Martin's estate and won a $65,000 settlement. She showed the probate court that she carried out her end of a compensatory arrangement with her companion, under which she provided "traditional wifely services" without benefit of matrim..
An investor is considering the purchase of zero-coupon bonds with maturities of one, three, or five years. Currently the spot rates for 1-, 2-, 3-, 4-, and 5.
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