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Jacks Corporation purchases $200,000 bonds plus accrued interest for 2 months of $2,000 from Kennedy Company on March 1. The bonds have an annual interest rate of 6% payable on June 30 and December 31. The entry to record the purchase of the bonds would include: A.Interest Receivable debit $2,000 B.Investment in Bonds debit $202,000. C.Cash credit $200,000 D.Interest Revenue credit $2,000.
Analyze the budget variance by calculating the direct labor efficiency and rate variances for June. What alternatives to the preceding monthly report could improve control over the stamping department's direct labor?
What is the difference between the auditor's approach in verifying sales returns and allowances and sales? Why is there a difference?
Is it necessary to adjust the inventory records by increasing inventory and accounts payable? if not what adjustments should be made?
During 2009, pension benefits paid were $40,000. The discount rate for the plan for this year was 10%. Service cost for 2009 was $80,000. Plan assets (fair value) increased during the year by $45,000. Required: Determine the amount of the PBO at D..
Jackson Corporation has two service departments whose direct department costs are $75,000 and $10,000, respectively, and two producing departments whose direct department costs are $60,000 and $250,000, respectively.
If a 22 year (Sam) invested $4,000/year into a Roth IRA until his 30th year, what will the value of that IRA be in the 65th year, assuming 8% per year?
Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances and place a check mark in the posting reference column.
To which group can a CPA provide audit documentation without being subpoenaed and without the client's consent?
When the incremental revenues and expenses are analyzed, what is the financial impact?
They had no unrecognized prior service cost, no unrecognized gains or losses, and no balance sheet accruals relating to pension assets or liabilties. The company uses a discount rate of 10% in determining the PBO and has an expected rate of return..
Electro-Rad Inc., a developer of radiology equipment, has stock outstanding as follows: 50,000 shares of 2%, preferred stock of $50 par, and 100,000 shares of $25 par common. During its first four years of operations, the following amounts were di..
Machinery was acquired in January for $300,000. Straight-line depreciation over a ten-year life (no salvage value) is used. For tax purposes, accelerated depreciation is used and Orkin may deduct 14% for 2012.
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