Prepare the journal entries to record
Heathrow issues $2,000,000 of 6%, 15-year bonds dated January 1, 2011, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,728,224.Prepare the journal entries to record the first two interest payments.
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In 2014, Logan sold 1,000 units at $500 each, and earned net income of $50,000. Variable expenses were $300 per unit, and fixed expenses were $150,000.
Washington industries had budgeted MOH of $90,000 and anticipated using 25,000 machine hours during the period. Actual MOH was $95,000 and OH added to jobs was $97,000. How much OH was overapplied or underapplied?
Jasmine Lee owns a catering company that serves food and beverages at exclusive parties and business functions. Lee's business is seasonal, with a heavy schedule during the summer months and holidays and a lighter schedule at other times.
A review of Parrish Corporation's accounting records found that at a volume of 134,000 units, the variable and fixed cost per unit amounted to $5 and $2, respectively.
Auto Lavage is a Canadian company that owns and operates a large automatic carwash facility near Quebec. The following table provides data concerning the company%u2019s costs.
FedEx Corporation is the world's leading express-distribution company. In addition to the world's largest fleet of all-cargo aircraft, the company has more than 53,700 ground vehicles that pick up and deliver packages.
Conan Company's monthly activity level ranged from a low of 17,000 units in May to a high of 26,000 units in October. Average production was 20,000 units per month. Utilities cost was $8,250 in May and $10,500 in October. The variable utility cost
Suppose Company A is quite similar to Company B in most respects ,but Company A uses the allowance method for bad debts and Company B does not. Which company has higher quality of earningsand Why?
Rita a single employee with AGI of $80,000 before consideration of the items below, incurred the following expenses during the year.
If an asset costs $240,000 and is expected to have a $40,000 salvage value at the end of its ten-year life, and generates annual net cash inflows of $40,000 each year, what is the cash payback period?
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