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Watney Inc. purchased $25,000 of 6% Hamel bonds at par on July 1, 2013. The bonds pay interest semiannually. Watney intends to hold the Hamel bonds for the life of the bonds. During the second half of 2013, an increase in interest rates reduced the fair value of the bonds to $22,500.
Prepare a journal entry to record Watney's receipt of six months of interest revenue. (If no entry is required for a transaction, select "No journal entry required" in the first account field.)
Explain why Food Lion must write down the current carrying value of its unprofitable stores. Explain why the recent $9.5 million charge to write down these impaired assets is considered a noncash expense.
Product-cost cross- subsidization is less likely to occur when: a) a single cost pool is used b) little effort is mae to trace cost objects c) a peanut butter approach is used to allocate overhead d) none of the above
Sales (50,000 units) $1,000,000, direct materials and direct labor $500,000, other variable costs $50,000, and fixed costs $180,000. What is Boswell break-even point in units?
The June 30 bank reconciliation also reported outstanding checks of $940. During the month of July, Arora Company books show that $17,500 of checks were issued, yet the bank statement showed that $16,400 of checks cleared the bank in July.
What are some inferences of possible interest to a stockbroker? How would the reliability of the inferences be assessed?
Please explain, identify, and justify effective funding strategies in the following areas:
What is the underlying rationale for Alimony Rules: A. The income should be taxed to the person with a claim of right to the income B. The income should be taxed to the person who enjoys the benefits of the income
Young corporation issued 2,000 shares of $25 par value common stock and 300 shares of 13% par value preferred stock for cash at par value. How do i record the journal entry?
Direct labor hours used on each product are 50,000for A1, 40,000 for B2, and 110,000 for C3. How much ordering andreceiving overhead is assigned to each product?
Which of the following is not one of the basic shareholders rights? a. The right to participate in earnings. b. The right to maintain one's proportional interest in the corporation.
Orange has a $20,000 charitable contribution carryover to 2010 from a prior year. Identify the tax issues the board should consider regarding the proposed contribution.
Funzy Cereal includes one coupon in its cereal and offers a toy car in exchange for $1.00 and coupons. The cars cost $1.50. 40% of the coupons were redeemed in the 1st month. 12 million boxes of cereal were sold and 2.4 million coupons redeemed. W..
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