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Question - On Jan. 1, 2021, ABC purchased bonds for the purpose of both collecting the contractual cash flows and selling the investment. The bonds have a total face value of $6,000,000, interest rate of 8% payable every August 1, and a remaining term of 4 years and 7 months. It paid $6,145,000 inclusive of accrued interest and transaction fee of $50,000. As of the end of the year, the bonds have a fair value of $5,960,000. What is the compound journal entry to update the carrying value of the investment and the balances of the related accounts on Dec. 31, 2021? Also, provide the interest income to be recorded on that same day.
Why are planning and budgeting important to an organization's success? What are some operational and financial impacts as a result from planning and budgeting?
If direct materials are added, the process and beginning inventory is 5,000 units that are 25% complete, under FIFO equivalent units (EU) for beginning WIP are
Compute What is the annual yield-to-maturity of the bond? A one-year zero coupon bond costs $99.43$99.43 today. Exactly one year from today, it will pay $100.
What amount should HMCC record as compensation expense for the year ended December 31, 2022, assuming HMCC chooses the option to record forfeitures
How much is the Total Liability to be paid on January 1, 2021? On January 1, 2019, BSA Corp. issued redeemable preference shares equal to par of $3,000,000
Let's say I save $400 per month for 20 years, and my investment grows at 6% the whole time that I'm saving. How much money will I have at the end of 20 years? Now let's say the 20 years have gone by and now instead of saving money, I'm living off my ..
Easter Egg and Poultry Company has $1,040,000 in assets and $649,000. If the firm has an asset turnover ratio of 4.0 times, what is the profit margin?
When accounting for income tax in accordance with AASB 112 Income Taxes, explain why income tax expense is generally not equivalent to
Explain the different categories of financial assets (such as passive investments) and their measurement under IFRS and ASPE
the procter amp gamble company pampg the financial statements of pampg are presented in appendix 5b or can be accessed
On January 1, 2013, Tonge Industries had outstanding 620,000 common shares (par $1) that originally sold for $20 per share, and 7,000 shares of 10% cumulative preferred stock (par $100), convertible into 70,000 common shares. Compute basic and dilute..
Sun Suria Berhad holds a combination of debt, common shares and preferred shares, Calculate the weighted average cost of capital and Cost of preferred shares
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