ALL INFORMATION RELEVANT TO ANSWERING THE PROBLEMS IS FOUND ON THE LAST PAGE OF THE SAMPLE EXAM. PROBLEM 1 (20 POINTS) 1. Compute the issue price of the bonds on January 1‚ 2010. (3 points) 2. Complete the amortization schedule below for the dates indicated. (3 points) DATE CASH INTEREST EXPENSE AMORTIZATION BOOK VALUE 1/1/10 12/31/10 3. Prepare all necessary journal entries‚ from issuance through the January 1‚ 2011 bond retirement
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BALTIMORE CITY COMMUNITY COLLEGE Principles of Accounting II Spring 2014 125 Points Complete the project by answering the questions below. Type your responses in the space provide after each question below. If you deviate from the format I have noted above‚ there will be an automatic 25 point deduction. Select a publicly traded company. Give me the name and get my approval. Do not choose Target Corporation as I have included a sample analysis of Target here that was done by a student in an earlier
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Audit Proposal Audit Proposal Kudler Fine Foods has many different types of audit to consider that could be used for each functional areas of AP‚ AR‚ inventory management and payroll. This brief has the purpose to distinguish among the types of audits that could be used for each process; to recommend the audit most appropriate for each process; to explain how the audits will be conducted; and to identify events that could prevent reliance on auditing through the computer. Types of Audit
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MBA 607 Examination I I will select five of the following questions for the mid-term exam. You should be able to answer all of them. You may work together in study groups and analyze and answer the questions. Obviously‚ the exam will be an individual effort. 1 Accounting and Control The controller of a small private college is complaining about the amount of work she is required to do at the beginning of each month. The president of the university requires the controller to submit
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Exercise 1.2‚ page 33 a. California Public Employees Retirement System would be interested in Boeing’s financial information to make predictions of the future. By examining historical data and the current information they can decide if and how much to invest. b. China Airlines‚ a potential customer would be interested in the financial information to determine the quality of the products and services and to determine if they could meet warranty obligations. c. Henry James‚ a real estate investor
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Economic benefit doctrine – Occurs when one receives a tax benefit from deduction and later receives reimbursement‚ it must be picked up as income (taxable) {Chapter 4} (will be on Homework ES and needs multiple questions) Applies to cash basis taxpayer; Income is taxable to the recipient when it is set aside on his behalf‚ made available to him‚ or is used to satisfy some of his indebtedness . A very narrow exception exists if to take possession of that income would result in undue hardship.
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Jenny Sawh Chapter 13 13-8‚ 13-11‚ 13-19 December 10‚ 2012 DR CR Salaries and Wages Expense $480‚ 000 Withholding Taxes Payable $80‚000 FICA Taxes Payable $28‚040 Union Dues Payable $9‚000 Cash [($480‚000 – $140‚000) X 7.65% = $26‚010] $362‚960 Payroll Tax Expense $29‚440 FICA Taxes Payable $140‚000 X 1.45% = $2‚030; $26‚010 + $2‚030 = $28‚040 $28‚040 FUTA Taxes Payable [($480‚000 – $410‚000) X .8%) $560 SUTA Taxes Payable [$70‚000 X (3.5% – 2.3%)]
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E 6-5 (Computation of Present Value) Present value of an ordinary annuity = R (PVF -) a) Present value of an ordinary annuity = $30‚000 (PVF -) = $30‚000 (4.96764) = $149‚029.20 b) Present value of an ordinary annuity = $30‚000 (PVF -) = $30‚000 (8.31256) = $249
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Write a four to five (4-5) page paper‚ titled Part I: The Operating Budget for the (Selected Agency) in which you separate the content into sections: 1. Provide background information about the agency‚ mission‚ goals‚ objectives‚ departments‚ and strategic plan. (Title this section Introduction.) 2. Describe the budget of the agency by addressing the following items: (Title this section Budget Overview.) a. Financial Summary‚ including Revenue and Expenditures b. Department Budgets c.
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Question 1 2 out of 2 points | | | The cost concept is the basis for entering the exchange price into the accounting records.Answer | | | | | Selected Answer: | True | | | | | Question 2 2 out of 2 points | | | Allen Marks is the sole stockholder of Great Marks Company. As of the end of its accounting period‚ December 31‚ 2011‚ Great Marks Company has assets of $940‚000 and liabilities of $300‚000. During 2012‚ Allen Marks purchased an additional $65‚000 of capital
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