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Question - Debit the cash account by $1,865,791 as this is the cash received at the time of issuance.
Debit the Discount on bond account $134,209 and it will be amortised over the period of bond life.
Credit the bond payable account by $2,000,000 as this is the value which will be paid at the time of maturity.
The bond of $134,209 would have to be amortized over the life of the bond. There are two methods of amortization. The straight line method and the effective rate.
Assume that you are using the effective rate method of amortization, what would be the amortization for the first year? and how would you journalize it?
There are several ways a company can allocate overhead costs to products produced or services provided. Two of these methods are absorption costing and variable costing.
Advise managers whether or not this contract is profitable. All assumptions must be clearly stated
If you choose the 0% financing option, what is the effective interest rate that the auto dealership is earning on your loan
Based on information in the video, explain primary advantages and disadvantages of applying direct write-off over the allowance method of writing off accounts.
spam inc. had the following standard costs and plans for fiscal current year for the production of custom meat
Essay: What you believe a CPA designation will do for you from a career perspective?Where do you want to be career wise 5 years from now as being a CPA?
a company purchased 20000 of merchandise. transportation costs were an additional 240. the company returned 320 of the
accounts receivable arising from sales to customers amounted to 35000 and 40000 at the beginning and end of the year
What is the unextended due date for the income tax return of a corporation whose fiscal year ends on February 28? What is its extended due date?
Prepare horizontal analysis of revenues and cost of goods sold, both in dollar amount and in percentage, for 2016 and 2017
Evaluation of Inventory
Write a short memo to the chief financial officer explaining which costing approach will produce the higher income and what the difference will be.
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