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Question - On 1/1/2019, Allie Company issued bonds payable of $500,000 at 8%. It was sold at $464,000 with effective interest rate of 9%. On 1/1/2020, Choco purchased all of Allie's bond for $532,000 cash with effective interest at 7% and Allie's bonds payable has been effectively retired.
Required -
1) What is Allies' book value of $500,000 bonds payable on 1/1/2020?
2) Prepare a journal entry that Choco will record on 1/1/2020 regarding purchase of Allie's bond.
3) Compute the consolidated gain or loss on a consolidated income statement for at the end of 2020.
4) Prepare a journal entry that Allie will record for bond interest expense on 12/31/2020.
Instructions: Prepare the stockholders' equity section of the balance sheet at December 31, 2017.
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vidovich corp. produces and sells renewable energy equipment. to finance its operations vidovich corp. issued 1412000
On December 1, 2011, Barnum Company (a U.S. -based on company) entered into a three-month forward contract to purchase 1,000,000 ringgits on March 1, 2012. The following U.S. dollar per ringgit exchange rates apply.
1. Discuss the formulation phase of policymaking in general terms.
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