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Gerona Company authorized the sale of $300,000 of 10%, 10-year debentures on January 1, 2008. Interest is payable on January 1 and July 1. The entire issue was sold on April 1, 2008, at 103 plus accrued interest. On April 1, 2013, $100,000 of the bond issue was reacquired and retired at 99 plus accrued interest. On June 30, 2013, the remaining bonds were reacquired at 98 plus accrued interest and refunded with an issue of $200,000 of 9% bonds which were sold at 100.
Give journal entries for 2008 & 2013 (through June). Assume straight line amortization on the premium or discount. Ignore any potential impact of year to year market value changes on the accounting for the bonds)
Loring Company had the following data for the month: Variable costs per unit: Direct Materials $4 Direct Labor 3.20 Variable Overhead 1 Variable selling expense 0.40 Fixed Ov
West Industries is a highly decentralized corporation with independent operating divisions. Each division is evaluated and rewarded based on its total net income. One of the divisi
Process of Setting Standards in Standard Costing Establishing correct a standard is extremely important due to the accuracy of the standards usually finds out the success of t
i want to understand everything about contract account
the following information relates to process 3 of a three stage production process for the month of january 2014. opening inventury 300 units comlete as to; material from proces
Compute
Question: At the beginning of the year, Asquith Company Ltd initiated a quality improvement program. The program was successful in reducing scrap and rework costs. To help asse
TYPES OF VARIANCES Variances are computed for the entire three basic elements of cost - direct labour, direct material, and overhead variance 1. Direct labour variance 2.
Absorption Costing and Marginal Costing Product costs are costs identified along with goods produced or purchased for resale. That costs are initially identified like part of
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