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Assume a 3 year $100,000 bond with an 11% stated rate and a 9% effective rate was sold for $105,063. Interest is paid annually.
A) What is the interest expense in the first year of bond?
B) What is the cash coupon payment in year 3?
C) Prepare all of year 3 journal entries related to the bond
D) What is the interest expense in the second year of the bond
E) What is the amortization of the bond premium that would be recorded in year 2?
F) Why were investors willing to pay a premium for this bond?
The factory administration costs are allocated based on direct labor hours, factory maintenance costs are allocated based on square footage occupied, and factory cafeteria costs are allocated based on the number of employees.
Sterling Garde, Inc., has 90,000 shares of $1.35 preferred stock outstanding in addition to its common stock. The $1.35 designation means that the preferred stockholders receive an annual cash dividend of $1.35 per share. How much in dividends must S..
On September 17, 2013, Ziltech, Inc. entered into an agreement to sell one of its divisions that qualifies as a component of the entity according to generally accepted accounting principles. By December 31, 2013, the company’s fiscal year-end, the di..
on 1st april 2012 seminole company sold 21600 of its 11 percent 15-year 1000 face value bonds at 97. interest payment
Determine the amount of gross profit or loss to be recognized in each of the three years using percentage of completion method and how much revenue will San report in its 2011 and 2012 income statement related to this contract using the percentage-..
Compare and contrast the two mainstream histories identified by Macve, i.e. ‘FAT is rationally derived from a basically coherent conceptual framework'.
A restaurant's revenue formula is $25q, where q is the number of meals served. The restaurant's planning budget is based on 400 meals. Its actual level of activity was 380 meals and the actual revenue at that level of activity was $9325. Illust..
Explain the action, if any, you would recommend to management in relation to the accounting treatment of every items.
Assume the same facts as in Problem 32. Dale dies four years later when the trust is worth $6.1 million. Nicole is 38, and the applicable interest rate is 4.6%. How much as to the trust is included in Dale's gross estate?
The total assets and total liabilities (in millions) of Green Mountain Coffee Roasters, Inc. and Starbucks Corporation follow:- Determine the stockholders' equity of each company.
valuation of ending work-in process using process costing.the following information is available for department a for
What type of evidence would provide the highest level of assurance in an attestation engagement?
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