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Question - Entries for redemption and Issuance of Bonds - Matt Perry, Inc. had outstanding$6,000,000 of 11% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $9,000,000 of 10%, 15-year bonds (interest payable July 1 and January 1) at 98. A portion of the proceeds was used to call the 11% bonds ( with an unamortized discount of $120,000) at 102 on August 1.
Prepare the journal entries necessary to record the issue of the new bonds and the refunding of the bonds.
Determine the effect of the distribution on the shareholders if the entity is (1) a C corporation and (2) an S corporation
Write two pages about accounting problems in any company and how they solve it from newspaper websites
Kabuo and Melinda got married on December 15, year 1. If Kabuo and Melinda choose to file jointly, what is their year 1 gross income?
decision making across the organization byp2-4 lisa ortega is president of ortega riding academy inc. the academys
Assuming that Sales Discounts and Credit Card Discounts are treated as contra-revenues, compute net sales for the two months ended August 31
For this situation, state the null and alternative hypotheses in verbal terms, then identify what would constitute a Type I error and a Type II error in this situation.
Evaluate how the appearance of solvency for a business changes when using cash vs. accrual accounting, noting which stakeholders might be affected and how.
Medical Supply Company uses a cash receipts journal, a cash payments journal, a sales journal, a purchases journal, and a general journal
Determine the equity income to be recognized by Killearn during each of these years
Vintech Company is planning to produce 2,100 units of product in 2011. Compute the standard cost of one unit of product
Suppose a sole proprietor settles the rental expenses of the entity amounting to P10,000 through his personal bank account. The journal entry should be
Although companies outsource their internal auditors from CPA firms, they never outsource them from their own external auditor. Why not?
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