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Swisher Company issued $2,000,000 of bonds on January 1, 2020.
Instructions
Problem (a) Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 98, and (3) 103.
If PetCo had net sales of $600,000, goods available for sale of $450,000, and cost of goods sold of $375,000, what is its gross margin? What amount of inventory will be shown on its balance sheet?
question a testing lab owns a hydraulic load frame which was purchased for 35000 untimely in the labs fiscal year 4
Assume Sally is in the 35% tax bracket for ordinary income and 15% for long term capital gains.
John organized Toucan Corporation 10 years ago. He contributed property worth $1,000,000 (basis of $200,000) for 2,000 shares of stock in Toucan (representing 100% ownership). John later gave each of his children, Julie and Rachel, 500 shares of the ..
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What is the current break-even point in units and in dollar sales? (Round contribution margin ratio to 2 decimal places, e.g. 15.25%)
On January 1, 2011, Mulcahy Manufacturing Inc., a newly formed corporation, issued 1,000 shares of common stock in exchange for $135,600 cash. No other shares were issued during 2011, and no shares were repurchased by the corporation. Prepare the sto..
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Assume the firm receives an additional $1 million of interest income from some bonds it owns. What is the additional tax on this interest income
Parker owned all of Odom Inc. Although the Investment in Odom Inc. account had a balance of $834,000, the subsidiary's 12,000 shares had an underlying book value of only $56 per share. On January 1, 2011, Odom issued 3,000 new shares to the public fo..
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