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.
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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?
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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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