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On January 1, a company issued and sold a $400,000, 7%, 10-year bong payable, and recieved proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses the Straight line method to amoritze the discount. Prepare a Journal Entry to record the June 30th interest payment. You may exclude the explanation
Seattle Health Plans currently uses zero debt financing. Its operating income (EBIT) $1 million, and it pays taxes at a 40 percent rate. It has $5 million in assests and because
Most firms build and keep inventories in the course of doing business. Manufacturing firms hold raw material, finished goods and spares and work in process in inventories. Financia
I am an AAT student studying lvl 3 AAT at college. I wish to learn how to complete self assessment end of year tax return forms for other people. That is because I have already bee
Monte and Allie each own 50% of Raider Corporation, an S corporation. Both individuals actively participate in Raider's business. On January 1, Monte and Allie have adjusted bases
CarloffCremes (CC) planned to sell 40,000 Queen size at $20 each and 20,000 King size at $15 each. Actual sales of the former were 45,000 and 25,000 of the latter, at $19 and $16 r
Between 1986 and 2000 Textron dividend changes were described by the following equation: DIVt " DIVt"1 ! .36(.26 EPSt " DIVt"1) What do you think were (a) Textron’s target payout r
Surviving Spouse - This is a person whose wife or husband died during tax year. A surviving spouse can file a JOINT RETURN for the year in which death occurred. Additionally a join
Change in profit sharing ratio When there is a change in profit sharing ratio, it means that some of the partners will get higher profits based on the new ratios in the future wh
Choice of an appropriate discount rate The difficulty with selecting a discount rate rests on whether the correct rate for the risk/return has been derived. A number of things
How to prepare a bond amortization sheet
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