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Sundown company issued $500,000 of 6% first mortgage bonds on January 1, 2013 for $413,540, when the market rate was 8%. the bonds mature in 15 years and pay interest semiannually on January 1 and July 1. Predawn Corporation purchased $200,000 of Sundowns bonds from the original purchaser on December 31, 2015, for $183942, when the market rate was 7%. Predawn owns 60% of Sundowns voting common stock.
1. Prepare the worksheet consolidation entry or entries needed to remove the effects of the intercorporate bond ownership in preparing consolidated financial statements for 2015.
2. Prepare the worksheet consolidation entry or entries needed to remove the effects of the intercorporate bond ownership in preparing consolidated financial statements for 2016.
Ending inventory consisted of 5,000 units which were 80% complete with respect to materials and 60% complete with respect to conversion costs.
For 2007 Mossland Corporation reported gross profit $100,000; net income of $24,000; sales $500,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 profit margin?
Smithson corporation had a 1/1/08 balance in the allowance for doubtful accounts of $10000. During 2008, it wrote off $7200 of accounts receivable and collected $2100 on accounts previously written off.
What is CVP analysis? Why is this an important analysis for a company to perform?
murphy companys total liabilities on december 31 2012 amounted to 1500000. the debt-to-equity ratio on this date was
Prepare Kasey's journal entry to record the credit card sales.
Robert deposits $150 monthly into a retirement account that has an APR of 5% with monthly compounding. What will this be worth in 40 years from today if it has $5,000 in it today?
Last year, the company made 150,000 trades with an average commission of $60. Estimate SVI's commission revenues for the coming year
Prepare a monthly schedule of depreciation for each of the seven assets for 2014 using 1) straight-line and 2) 200% DDB
the articles of partnership for a-b partnership provide for a salary allowance of 5000 per month for partner b with the
M.T. Glass, Inc. is considering the acquisition of a new piece of heavy machinery to replace an old, Calculate the net present value (NPV) of the new machine
Rosen and the other owners invest $50,000 in exchange for corporate stock in the firm.
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