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On 2/1/16, you issue a 10-year $100,000 bond paying interest quarterly from the date of issue. The market rate of interest has increased to 6% and the stated rate is 5%.
On July 31, you decide to retire the bond you issued on 2/1/2016 because interest rates have fallen. The bond price is 116.479. You retire the bond using 1) the proceeds of a 4%, 10-year, $100,000 bond paying interest quarterly issued on July 31 and 2) cash. The market rate of interest on July 31 is 3%. Record all transactions related to the bonds on July 31. The new bond issue has associated costs of $1,000.
Prepare the necessary journal entry/entries for July 31, 2016
Westman Company lost most of its inventory in a fire in December just before the yearend physical inventory was taken. Prepare a formal labeled schedule computing the fire loss incurred.
Assuming that you have developed a pattern of average % collections over a three or four month collection period, using quantitative or qualitative methods, do you think you can then use this % model to budget cash collections every month in the c..
The question is on accounting basics about closing process in accounting cycle. Show which of the following accounts will be closed to Income Summary at year-end.
q1 what is the weighted average contribution marginwacm percentage for bridgestones next annual budget?q2 what would be
Assuming the cost of direct materials used is $1,500,000, compute the total manufacturing costs using the information below. Raw materials inventory, January 1 $ 30,000 Raw materials inventory, December 31 60,000 Work in process, January 1 27,000 Wor..
Prepare all journal entries required through June to record the above transactions and events.
Identify an organization that was involved in corporate fraud. Explain how fraud can be detected and evaluate the importance of teamwork and leadership in a fraud investigation.
problem 1at the beginning of 20x2 dahl ltd. acquired 8 of the outstanding common shares of tippy ltd. for 400000.nbsp
By how many days would the cash conversion cycle be changed? - Cash conversion cycle
assigning responsibilities in various responsibility centers.for each responsibility center described below indicate
Journalize the April transactions using a periodic system and At the beginning of the current season on April 1, the ledger of Four Oaks Pro Shop showed Cash $2,500; Merchandise Inventory $3,500; and Common Stock $6,000.
journal entries in relation to plant asset transactions.mahoney company had the following transactions involving plant
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