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On July 1, 2001, the Romero Corp. issued $400,000, 10 percent bonds for $430,924. Interest is payable on January 1 and July 1; the bond matures in 2006. The market rate for this type of bond is 8 percent. Prepare the journal entries to record the sale of the bonds, any adjusting entries, and the payment of the interest through December 31, 2003, using the effective interest method. Prepare the journal entries using the straight-line method
aldos financial statements for the 2010 and 2009 fiscal years contained the following informationbalance sheets in
lauer company reported net income of 66800 on sales of 300000. the company has total assets of 500000 and total
Alamo Inc. had $300 million in taxable income for the current year. Alamo also had a decrease in deferred tax assets of $30 million and an increase in deferred tax liabilities of $60 million.
gilroy corporation is considering new equipment. the equipment can be purchased from an overseas supplier for 3200. the
Determine the total bond interest expense to be recognized over the bonds' life.
newbury bikes co. is a wholesaler of motorcycle supplies. an aging of the companys accounts receivable on december 31
an acquaintance with an interest in investing says i would not invest in company a because their gross profit
primm company produced 2500 units of product that required three standard hours per unit. the standard variable
macgiver brass is a brass plating firm with sales of 8 million and profits before taxes of 625000. macgiver has a loan
Assuming that the equipment sold on April 5, 2009 what would the accumulated depreciation on equipment and the loss of disposal fixed assets be in April of 2009?
the florida lottery agrees to pay the winner 276000 at the end of each year for the next 20 years. what is the future
Compute interest and find the maturity date for the following notes.
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