Journalize teh bonds which are issued at face value
The Goody Co. issued $300,000 of 10% bonds on January 1, 2008. the bonds are due Jan. 1, 2013, with interest payable each July 1. The bonds are issued at face value. How do I figure the amounts of this problem in order to journalize it?
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The City of Happy Valley records the following property tax transactions. Prepare the journal entries.
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Your investment advisor wants you to purchase an annuity that will pay you $25,000 per year for 10 years. If you require a 7% return, what is the most you should pay for this investment?
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Assume that net income for the year was $150,000 (record the closing entry) and the board of directors appropriated $70,000 of retained earnings for plant expansion.
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Prepare the general journal entries necessary to record these transactions.
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