acc545_r4_jamona_corp - Jamona Corporation ACC/545 Version...

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Jamona Corporation ACC/545 Version 4 1 University of Phoenix Material Jamona Corporation On January 1, 2006, Jamona Corp. purchased 12% bonds, having a maturity value of $300,000, for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2006, and mature January 1, 2011, with interest receivable December 31 of each year. The company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified as available-for-sale. The fair value of the bonds at December 31 of each year is as follows: o 2006 – $320,500 o 2007 – $309,000 o 2008 – $308,000 o 2009 – $310,000 o 2010 – $300,000 The following information is available from Jamona’s inventory records: Units Unit Cost January 1, 2007 (beginning inventory) 600 $ 8.00 Purchases: January 5, 2007 1,200 9.00 January 25, 2007 1,300 10.00 February 16, 2007 800 11.00 March 26, 2007 600 12.00 A physical inventory on March 31, 2007, shows 1,600 units on hand. Select any one of
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This note was uploaded on 06/25/2011 for the course ACC 539 $21 taught by Professor Mr.someone during the Spring '09 term at University of Phoenix.

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acc545_r4_jamona_corp - Jamona Corporation ACC/545 Version...

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