Describe how bonds payable differ from notes payable
Describe how bonds payable differ from notes payable and how to account for the issuance of bonds at par, at a discount, and at a premium. How is the discount and premium amortized?
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John Wayne Company is a major employer in the town in which you live. You have always had a high opinion of the company. The company has been a major donor to the schools and to other charities.
Tea and sugar substitute cost $3.50 and $0.40 per pound, respectively. What dollar amount of raw material purchases is budgeted for June?
At December 31, 2011, the end of the first year of operations at Star Inc., the firm's accountant neglected to accrue payroll taxes of $27,700 that were applicable to payrolls for the year then ended.
Oakley Company does not ring up sales taxes separately on the cash register. Total receipts for February amounted to $28,600. If the sales tax rate is 4%, what amount must be remitted to the state for February's sales taxes?
How is the portion of consolidated earnings to be assigned to non-controlling interest in consolidated financial statements determined?
What is the difference between downstream and upstream sales? How does this difference impact application of the equity method?
On March 15, 2011, XYZ Corp obtained a nine-month working capital loan from Bank Three. The face amount of the note signed by the treasurer was $300,000.
Company uses predetermined overhead (oh) rate. Beg of yr: est mfg oh $248,800. End of yr: actual direct labor hours for the yr 16,800 hrs, mfg oh for the year was underapplied by $17000. Actual mfg oh was $243,800. Predetermined oh rate was?
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