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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
how do you record this transaction? May 18 Issues 30,000 additional shares of $2 common stock for $75 per share. May 25 Issue 8,000 shares of preferred stock for $125 per sha
THE NOTES TO THE ACCOUNTS The notes to the accounts provide additional information on the a/c policies that the company has adopted the make-up of some of the items appearing on
Adjusting Entries Clapton Guitar Company entered into the following transactions during 2013. [The transactions were properly recorded in permanent (balance sheet) accounts unless
Explain the term - Providing a service One way of viewing accounting is as a form of service. Accountants provide economic information to their 'clients', who are numerous user
XYZ Corporation recieves $100,000 from investors for issuing them shares of its stock. XYZ's journal entry to record this transaction would include a a debit to investment b credit
WILL SOMEONE PLEASE ASSIST ME WITH THIS ASSISGNMENT Preview Company, a diversified manufacturer, has five divisions that operate throughout the United States and Mexico. Preview ha
During 2014, Victoria’s Fashion had beginning inventory of $480,000, ending inventory of $560,000, and cost of goods sold of $2,200,000. Compute the inventory turnover and days’ in
I need extra help with receivable turnover, days'' sales uncollected, and bank reconciliation.
ACCUMULATION ACCOUNTS FOR MINORS (a) Income accumulations : When property is left in trust for minors, the income earned for the period will be divided equally or according t
WyseFinance maintains a non-current asset register for recording information for non-current assets for a business. The business is registered for VAT. The following is a purcha
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