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Question 1 - On June 1, 2019 Adelphi Corporation issued $100,000 of 6%, 10-year bonds. The bonds which were issued at 96, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. Enter as a whole number (no cents).
Question 2 - Department J had no work in process at the beginning of the period. 18,000 units were completed during the period, and 2,000 units were 30% completed at the end of the period. The following manufacturing costs were debited to the departmental work in process account during the period (Assume the company uses weighted average method and rounds cost per unit to two decimal places):
Direct materials (20,000 at $5) $100,000
Direct labor 142,300
Factory overhead 57,200
Assuming that all direct materials are placed in process at the beginning of production, what is the total cost of the departmental work in process inventory at the end of the period?
The bonus issue is to be paid out of the General Reserve and was made on the 30th November 20X3. When should record the journal entry
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Calculate the present value of the bond issue to determine its selling price.
Mortonson Corporation factored, with recourse, $300,000 of accounts receivable with Huskie Financing. The finance charge is 3%, and 5% was retained to cover sales discounts, sales returns, and sales allowances. Mortonson estimates the recourse obl..
Apart from the absence of his children, Fred's daily behavior is relatively similar to his behavior before entering Australia
How do you calculate the final rate of return on beginning and end stock prices? Example: My beginning stock was worth 4,129 and the end stock was worth 1,922.50
After analyzing Coyote Canyon Outfitter's Income statement you notice the sales are 20% higher than last year. You also notice the net income is 15% higher. Also, according to your calculations the gross profit has declined from 60% to 50% and Res..
Emma Pfhoul started a computer consulting business, Phoulish Consulting Services, in December, 20X1. Prepare a formal Income Statement as of December 31, 20X1
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