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Mclain corporation sold 6.000.000, 9%, 10years bonds on january 1, 2014. the bonds were dated january 1, 2014, and pay interest on july 1 and january 1. McLain corporation use the straight line method to amortize bond premium or discount. assume no interest is accured on june 30a. prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2014, assuming that the bond sold at 102b. prepare journal entries as in part ( a ) assuming that the bonds sold at 96c. show statement of financial position presentation for each bond issued at december 31,2014
Hendrickson Corporation reported net income of $50,000 in 2012. Depreciation expense was $17,000. The following working capital accounts changed.
Dryden Manufacturing Company prepared a fixed budget of 40,000 direct labor hours, with estimated overhead costs of $200,000 for variable overhead and $60,000 for fixed overhead.
On january 1, 2004 kate products issued ten year convertible bonds of $1800000 at 105. Interest es payable semiannually on june 30 abd dicember 31 at a rate of 12%. straight-line amortization is recorded at the end of the calendar year.
Answer the following questions based on the 2011 annual report of Proctor & Gamble Corporation (P&G). A link to the annual report is provided below. The financial statements are on pp. 31-74 of the annual report, and all questions can be answered ..
Setting discount rates are too high due to fear of future rates tends to bias decisions against making strategic investments.
For the year ended December 31, 2011, Blake reported income of $63,000 and paid cash dividends of $14,000 on its common stock. What is the proper carrying value of Clyde's investment in Blake at December 31, 2011?
A company purchased land for $80,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the cost principle, the cost of land wo..
For both Machine use straight line depreciation to zero over the projects life and assume a salvage value of $40,000. if your tax rate is 35 percent and your discount rate is 10 percent , compute the EAC of both machines
Describe in your own words what "segregation of duties" is in an AIS context. Explain how MYOB can assist in the implementation of separation of duties
What are the equivalent units of production with respect to direct labor at the end of the month, assuming the weighted average method is utilized?
Determine the taxable year of the LLC under the existing Code and Regulations. Two years after formation of the LLC, Cameron sells half of his interest (25%) to Totco, Inc. Can the LLC retain the taxable year determined in part (a)?
There were 1,100 units in beginning goods in process inventory, and they were 70% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weight..
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