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Answer good. On July 1, 20Y1, Campbell issued $30,000,000 of
Answer good Image transcription text On July 1, 20Y1, Campbell issued $30,000,000 of 10-year, 10% bonds at a market (effective) interest rate of9%. Interest is payable semiannually on December 31 and June 30. Journalize the entry to record the amountof cash proceeds from the issuance of the bonds on July 1, 20Y1. Use the Excel…
Jennings Corp. has 1,000,000 shares of $1 par value stock
Jennings Corp. has 1,000,000 shares of $1 par value stock authorized, 200,000 shares issued, and 150,000 shares outstanding. On March 31, Jones’ Board of Directors declared a 10% stock dividend at a time that the stock carried a market value of $30. Prepare the journal entry required to record this transaction and then post it to…
In January, Mike loans his S corporation $20,000, and by the end of
In January, Mike loans his S corporation $20,000, and by the end of the year, Mike’s stock basis is zero and the basis in his note has been reduced to $16,000. During the year, the company’s operating income is $20,000. The company also makes distributions to Mike of $22,000. Mike reports a(n): Group of answer…
2. Debra has purchased a soccer ball stitching machine for $20,000
2. Debra has purchased a soccer ball stitching machine for $20,000. It is expected to last 10 years with a salvage value of $2,000. Over 10 years, it will stitch an estimated 100,000 soccer balls. What is true? Select one: O a. Under the double-declining balance method, this machine would be depreciated $3,600 in its…
Completed services that were paid for six months earlier, $2,000
Image transcription text Completed services that were paid for six months earlier, $2,000 Date Accounts and Explanation DebitCredit Depreciation for the current year includes Equipment, $2,200. Date Accounts and Explanation DebitCredit Incurred interest expense of $2,600 Date Accounts and Explanation Debit Credit
Please answer Beginning accounts receivable is $18,000, ending
Please answer Beginning accounts receivable is $18,000, ending accounts receivable is $21,000, and Net sakes revenue is $202,000. What is the cash receipts from customers?
Pear Group Corporation sells $150,000, 5%, 10-year bonds for 96 on
Pear Group Corporation sells $150,000, 5%, 10-year bonds for 96 on January 1. Interest is paid on January 1 and July 1. Straight-line amortization is used. The amount of interest expense recorded on July 1, six months after issuance is: Group of answer choices $4,050.00 $8,500.00 $3,750.00 $4,250.00 $4,500.00