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On March 31, 2010, the Brodie Corporation acquired bonds with a par value of $400,000 for $425,800. The bonds are due December 31, 2015, carry a 12% annual interest rate, pay interest on June 30 and December 31, and are being held to maturity. The accrued interest is included in the acquisition price of the bonds. The company uses straight line amortization.Required:1. Prepare journal entries for Brodie to record the purchase of the bonds and the first two interest receipts.2. If the company failed to separately record the interest at acquisition, explain the errors that would occur in the company's financial statements (no calculations are required).
Compute the total amount of goodwill of International Co. based on the price paid by Melissa Co. Prepare all journal entries in Melissa's accounting records relating to the investment for year ended December 31 under the cost method of accounting, ..
The following questions concern independence and the Code of Professional Conduct or GAAS. Choose the best response.
The Flintstone Construction Company delivers dirt and stone from local quarries to its construction sites. A new truck that was purchased for a cost of $120,000 at the beginning of the year was expected to deliver 200,000 tons over its useful life..
Conduct research to find information about organizations that provide governance for accounting practices. Answer the following questions in your own words. Be sure to cite your references in proper APA style.
Identify and analyze the effect of these transactions.
Discuss potential liquidity issues based on your calculations of the current and quick ratios. Are there any factors that could be erroneously influencing the results of the ratios Discuss liquidity issues of competitive companies within the same ..
What is consolidated net income attributable to the controlling interest?
marine inc. manufactures a product that is available in both a flexible and a rigid model. the company has made the
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oxygen co. is incorporated at the beginning of this year and engages in a number of transactions. the following journal
1.adidas issued 10-year 11 bonds with a par value of 170000. interest is paid semiannually. the market rate on the
sweet sue inc. produces a particularly rich praline fudge. each 10-ounce box sells for 5.50. variable unit costs are as
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