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AP7,000,000 face value bonds were sold on April 1, 2015 at 106. The corporation amortizes premium only Triple V Corporation was authorized to issue P10,000,000 face value, 10%, 10 year bonds on January 1, 2015. Interest on these bonds are payable semi-annually on July 1 and January 1 of each year. at the end of the fiscal year, using the straight-line method.
On April 1, 2018 P4,000,000 face value bonds were purchased and retired at 99 plus accrued interest.
Question 1: What are all the necessary journal entries for the year 2015-2016 including adjustments relating to the bond issuance. Use memorandum approach.
Question 2: What are all the necessary journal entries for the year 2018 including adjustments relating to the retirement of the bonds.
Purpose the company budgeted balance sheet - The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing
To record the retirement of the debt, Aggie Inc. will? On January 1, 2015 Aggie Inc. issues 6.5% bonds with face value of $795,000 and interest payable each Dec
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Arcon Inc. had inventory on hand at the beginning of March with a cost of $280. At the end of March, Arcon Inc. reported cost of goods sold of $14600 on the income statement and inventory of $560 on the balance sheet. What was Arcon's cost of purchas..
The net present value and internal rate of return methods of capital budgeting is superior to the payback method because they:
Tom Industries has a plant capacity of 70,000 units and current production is 55,000 units. At this production volume the variable cost per unit is $30, and the fixed cost per unit is $4.10 per unit. What impact will accepting the special order have ..
Prepare the work paper entries that would be made on a consolidated statements work paper for the years ended December 31, 2020 and 2021
What is the primary financial reporting objective for nonprofit organizations? How does this differ from the primary financial reporting objective
Discuss the nature and value to society of the research being done by BSF Ltd. - Discuss the problems with the early the research done by BSF Ltd.
A man has just inherited $250,000. If he invests the money at 4.5%, what can he expect to have at the end of 15 years when he retires?
Which of the following is true about stock-based compensation?
what is the mean value of market capitalization? Assume that market capitalization has a normal distribution.
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