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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What is the present worth of a series of equal quarterly payments of $3000 that extends over a period of 8 years if the interest rate is 10% compound monthly?
In 2008, Micdougal sold 3,000 units at $500 each. Variable expenses were $350 per unit and fixed expenses were $195,000. The same variable expenses per unit and fixed expenses are expected for 2009.
P1-6 Data analysis, manufacturing statement, cost terminology O'Reilly Manufacturing, Inc.'s cost of goods sold for the month ended July 31 was $345,000. The ending work in process inventory was 90% of the beginning work in process inventory.
The marketing department believes that a promotional campaign for Store H costing $8,500 will increase the store's sales by $18,000. If the campaign is adopted, overall company net operating income should:
On the Basis of the following data (a) journalize the adjusting entries at June 30, the end of the current fiscal year, and (b) journalize the reversing entries on July 1, the first day of the following year.
Did Vallejos net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Provide numerical support for your answer.
Advance Products regards all of its workers as full-time employees and the company has a longer standing no-layoff policy. Furthermore, production is highly automated.
The Prepaid Insurance account had a $5,000 balance on December 31, 2012. An analysis of insurance policies shows that $2,700 of unexpired insurance benefits remain at December 31, 2013.
Telmarine Company's payroll taxes are: FICA 8%, state unemployment 2.50% (due to a stable employment record), and 0.80% federal unemployment.
Elite Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $300,000 cost with an expected four-year life.
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