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Green Valley issued $ 20,000,000 of general obligation bonds to construct a multipurpose arena. These bonds will be serviced by a tax on the revenue from events held in the arena and will mature in 2017. During 2012, Green Valley budgeted $ 2,500,000 of tax revenues and $ 2,000,000 for interest on the bonds in its Debt Service Fund. Prepare the journal entries necessary to record(a) The budget and(b) The expenditure when the interest comes due for payment.
Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 20,000 shares of common stock were outstanding during 2012.
Dick’s Sporting Goods makes customized uniforms. The Great Northwest League has offered to buy 80 basketball jerseys for $16 per jersey-If Dick’s accepts the special order from The Great Northwest League, its operating profit will
use the following data for abc music co. to prepare a statement of cash flows using the indirect method for the year
the management of peterson manufacturing company has asked for your assistance in deciding whether to continue
Soap Corporation issued a $350,000, 6% 15-year mortgage note to obtain needed financing for new office. The terms of the note call for semiannual payments of $17,857 each. Prepare the entries to record the mortgage loan and the first installment.
lenter supply company is a medium-sized distributor of wholesale hardware supplies in the central ohio area. it has
The equipment is expected to last five years and be worth $2,000 at the end of that time. Prepare the entry to record one year's depreciation expense of $3,600 for the equipment as of December 31, 2013
sierra company allocates the estimated 200000 of its accounting department costs to its production and sales
niu companys budgeted sales and direct materials purchases are as follows. budgeted sales budgeted d.m. purchases
on january 1 2012 richards inc. had cash and common stock of 66120. at that date the company had no other asset
Issuance of the bonds. Accrual of interest and amortization of bond discount for the year, on December 31, using the straight-line method.
for this cost volume profit scenario the variables aresales profit 25variable cost 15fixed cost 180contribution margin
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