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Question - Randle Inc. issues $300,000, 10-year, 8% bonds at 98. Prepare the journal entry to record the sale of these bonds on March 1, 2019. Prepare entry for bonds issued.
Accounting Basics, Accounting
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Question - 1. What is gross profit margin and what is net profit margin? What are in the between the two? Give a few examples to explain the items between these margins, and show how to analyze these items for improvemen ...
Question - Morgan Jennings, a geography professor, invests $99,000 in a parcel of land that is expected to increase in value by 15 percent per year for the next ten years. He will take the proceeds and provide himself wi ...
Question - Splish Company purchased equipment on January 2, 2013, for $ 111,400. The equipment had an estimated useful life of 5 years with an estimated salvage value of $ 12,400. Splish uses straight-line depreciation o ...
Question - Blue Co. reported $150,000 of net income for 2017. The accountant, in preparing the statement of cash flows, noted the following items occurring during 2017 that might affect cash flows from operating activiti ...
Question: Review the Course Project Guidelines. In the last module, you completed your estimate of cash flows for your project. In this module, you will calculate the break-even point for the project and the expected fin ...
Question - Selfish Gene Company is a merchandising firm. The following events occurred during the month of May. (Note: Selfish Gene maintains a perpetual inventory system.) May 1. Received $40,000 cash as new stockholder ...
QUESTION - Dole Industries had the following inventory transactions occur during 2017: Units Cost Unit Feb. 1, 2017 Purchase 90 $90 Mar. 14, 2017 Purchase 155 $94 May 1, 2017 Purchase 110 $98 The company sold 255 uni ...
Question - Prepare bank reconciliation and related entries On October 31, 2017, Lisik Company had a cash balance per books of $8,946. The bank statement on that date showed a balance of $10,155. A comparison of the state ...
Question - The following information is available for Collins Company. January 1, 2014 2014 December 31, 2014 Raw materials inventory $22,000 $30,000 Work in process inventory 20,300 17,200 Finished goods inventory 27,00 ...
Question - A building classified as part of PPE is accounted for differently from a building classified as Investment Property. The cost and fair value models are available for both, but whereas PPE is depreciated under ...
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