3141 - Chapter 14 CPA

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3141 - Chapter 14 CPA


 
  
Created Feb 7, 2012
by
scotty1982

 

 
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1
On July 1, 2010, Spear Co. issued 1,000 of its 10%, $1,000 bonds at 99 plus accrued interest....
 
a) $1,015,000
2
On January 1, 2010, Solis Co. issued its 10% bonds in the face amount of $3,000,000, which...
 
b) $377,400
3
On July 1, 2009, Noble, Inc. issued 9% bonds in the face amount of $5,000,000, which mature...
 
a) $264,050
4
On January 1, 2010, Huff Co. sold $1,000,000 of its 10% bonds for $885,296 to yield 12%.
 

c.   $53,118

5
On January 1, 2011, Doty Co. redeemed its 15-year bonds of $2,500,000 par value for 102.
 

a.   $90,000

6
On its December 31, 2010 balance sheet, Emig Corp. reported bonds payable of $6,000,000 and...
 
d.         $230,000
7
On January 1, 2006, Goll Corp. issued 1,000 of its 10%, $1,000 bonds for $1,040,000.
 

d.   $8,000 gain.

8
On June 30, 2011, Omara Co. had outstanding 8%, $3,000,000 face amount, 15-year bonds maturing...
 

c.   $2,865,000.

9
A ten-year bond was issued in 2009 at a discount with a call provision to retire the bonds....
 

c.         face amount less...

10
Paige Co. took advantage of market conditions to refund debt. This was the fourth refunding...
 

c.   part of continuing operations.

11
Eddy Co. is indebted to Cole under a $400,000, 12%, three-year note dated December 31, 2009....
 

          disposal      ...

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