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Swanson Corporation issued $8 million of 20-year, 8 percent bonds on April 1, 2009, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2029. Swanson's fiscal year ends on December 31. Prepare the following journal entries:
a. April 1, 2009, to record the issuance of the bonds.
b. September 30, 2009, to pay interest and to amortize the bond premium.
c. March 31, 2029, to pay interest, amortize the bond premium, and retire the bonds at maturity (make two separate entries).
Expalin how Wal-Mart could use the international bond market to finance the establishment of new outlets in foreign markets.
The average remaining service period for employees expected to receive benefits is ten years. What is the amount of amortization to pension expense for year?
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
One quarter of the principal plus interest is payable on June 30 of each year beginning June 30, 2009. Property owners are assessed to provide the funds to pay the principal and interest on the debt.
Anthony and Latrisha are married and have two sons, James, age 25 and Jonas, age 13. Both sons are properly claimed as dependents. Anthony and Latrisha's marginal tax rate is 25% in the current year and they file a joint return. Both James and Jon..
Using vertical analysis, prepare a common size comparative balance sheet.
The following costs were incurred in August: Direct materials $37,000 Direct labor 14,000 Manufacturing overhead 38,000 Selling expenses 10,000 Administrative expenses 28,000 Conversion costs during the month totaled:
a. Calculate the issue price of the bonds. b. Without prejudice to your solution in part a, assume that the issue price was $884,000. Prepare the amortization table for 2008, assuming that amortization is recorded on interest payment dates.
Discuss generally how revenue should be recognized at interim dates and specifically how revenue should be recognized for industries subject to large seasonal fluctuations in revenue and for long-term contracts using the percentage-of-completion m..
Talia Corp. produces digital cameras. For each camera produced, direct materials are $24, direct labor is $16, variable manufacturing overhead is $12, fixed manufacturing overhead is $28, variable selling and administrative expenses are $10, and f..
On January 1, 2010, Garner Corporation purchased 25% of the common stock outstanding of Landon Corporation for $250,000. During 2010, Landon Corporation reported net income of $80,000 and paid cash dividends of $40,000.
"Cost allocation is arbitrary, so there is nothing gained by it. We should report only the costs we know are direct." Do you agree? Why?
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