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Zhang Company issued $600,000 of 10 year, 7 percent bonds on January 1, 2013. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Zhang immediately invested the proceeds from the bond issue in land. The land was leased for an annual $110,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, 2013.
Required:
a. Prepare the journal entries for these events, and post them to T-accounts for 2013 and 2014.
b. Prepare the income statement, balance sheet, and statement of cash flows for 2013 and 2014.
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The following information pertains to Stoney Manufacturing for 20X6:Direct labour $ 30,000Sales 400,000Selling expenses 50,000Raw (Direct) materials on hand:
1 Prepare a revised cost estimate for the job, taking into account opportunity costs, replacement costs and incremental costs. Assume that Mr Brewster considers the job from the viewpoint of a family business, including himself and his son together. ..
Unearned Revenue
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Hilltop sells its rock climbing shoes worldwide. Hilltop expects to sell 4000 pairs of shoes for $165 each in January and 2,000 pairs of shoes for $220 each in February. All sales are cash only. Prepare the sales budget fro January and February. S..
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