prior 410 exam questions

prior 410 exam questions - On January 1, Year 1 the B Co....

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On January 1, Year 1 the B Co. issued $2,000,000 face value of bonds payable with a 12 year life. The bonds had a coupon rate of 12% annual (compounded semiannually) and were issued to yield 14% annual (compounded semiannually). Interest was payable on January 1 and July 1 each year. On July 1, Year 2, the company repurchased the bonds in the open market when the yield rate was 10%. The company’s year end is December 31. Required : Make relevant journal entries for each of the dates listed below: January 1, Year 1 June 30, Year 1 December 31, Year 1 July 1, Year 2
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The following information relates to the inventory and cost of goods sold for the M. Company for a recent year: Balance at beginning of year: 200 units @ $8.30 Purchase 1: 1700 units @ $7.80 Purchase 2: 3400 units @ $7.70 Sales: 4600 units Required: Determine the value assigned to Ending Inventory and Cost of Goods Sold assuming that FIFO is used.
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The DEH Company uses the allowance method for accounting for bad debts. The aging
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prior 410 exam questions - On January 1, Year 1 the B Co....

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