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Prepare the necessary journal entries to record the following tr Need more help! Prepare the necessary journal entries to record the following transactions relating to the long-term issuance of bonds of Pitts Co.: March 1: Issued $2,000,000 face value Pitts Co. seconds mortgage, 8% bonds for $2,180,400, including accrued interest. Interest is payable semiannually on Dec. 1 and June 1 with the bonds maturing 10 years from this past Dec. 1. The bonds are callable at 102. June 1: Paid semiannual interest on Pitts Co. bonds. (Using straight-line amortization of any premium or discounts) December 1: Paid semiannual interest on Pitts Co. bonds and purchased $1,000,000 face value bonds at the call price in accordance with the provisions of the bond indenture. Students also viewed these Organizational Behavior questions Prepare the necessary journal entries to record the following transactions relating to Prepare the necessary journal entries to record the following transactions relating to the…… … interest on Pitts Co. bonds. (Use straight-line amortization of any premium or discount.) December 1 Paid semiannual interest on Pitts Co. bonds and purchased $2,000,000 face value bonds at the call… Prepare the necessary journal entries to record the following transaction for the Prepare the necessary journal entries to record the following transaction for the city of Small…… … a fair value of $3,000, originally purchased for $15,000 from the general fund. e. The serial bonds funded in transaction (c) were retired on their maturity date. f. By year-end, $450,000 of… Prepare the necessary journal entries to record the following transactions, assuming a Prepare the necessary journal entries to record the following transactions, assuming a periodic inventory system: (a) Purchased $400,000 of merchandise on account, terms 2 / 10, n / 30 (b) Returned $30,000 of damaged merchandise for credit. (c) Paid for the merchandise purchased within 10 days. Prepare the general journal entries to record the following transactions of the Prepare the general journal entries to record the following transactions of the Quinones County…… … is not used). The annual principal and interest payment, which is due two months before year end, was paid. The principal payment was $200,000 and the interest was $120,000. (Next year’s… Is one factor of production more important than the others? If so, Is one factor of production more important than the others? If so, which one? Why? What is meant by a safe expression in relational calculus? What is meant by a safe expression in relational calculus? Clothing Frontiers began operations on January 1 and engages in the following Clothing Frontiers began operations on January 1 and engages in the following transactions during…… … 110 additional shares of common stock for $54 per share. Required: 1. Record the transactions, assuming Clothing Frontiers has no-par common stock . 2. Record the transactions, assuming… The joint density for the random variables (X, Y), where X is The joint density for the random variables (X, Y), where X is the unit temperature change and Y is the proportion of spectrum shift that a certain atomic particle produces, is cry, 0 Aaron Lynch Company has the following balances in selected accounts on December Aaron Lynch Company has the following balances in selected accounts on December 31, 2019. Service Revenue…………….$40,000 Insurance Expense……………..2,700 Supplies Expense………………2,450 All the accounts have normal balances. Aaron Lynch Company debits prepayments to expense accounts when paid, and credits unearned revenues to revenue accounts when received. The following information below has been gathered at December 31, 2019. 1. Aaron Lynch Company paid $2,700 for 12 months of insurance coverage on June 1, 2019. 2. On December 1, 2019, Aaron Lynch Company collected $40,000 for consulting services to be performed from December 1, 2019, through March 31, 2020. 3. A count of supplies on December 31, 2019, indicates that supplies of $900 are on hand. Instructions Prepare the adjusting entries needed at December 31, 2019. On May 31, 2013, Armstrong Company paid $3,300,000 to acquire all the On May 31, 2013, Armstrong Company paid $3,300,000 to acquire all the common stock of Hall Corp.,…… … Determine the impairment loss, if any, to be recorded on December 31, 2013c) Assume that the fair value of the Hall division is $1,950,000 instead of $2,100,000. Prepare the journal entry to… At the financial statement date of December 31, 2012, the liabilities outstanding At the financial statement date of December 31, 2012, the liabilities outstanding of Packard…… … Instructions: Prepare a partial balance sheet for Packard Corp., showing the manner in which the above liabilities should be presented at December 31, 2012. The liabilities should be properly… Pet Designs makes various accessories for pets. Their trademark product, PetBed, is Pet Designs makes various accessories for pets. Their trademark product, PetBed, is perceived to…… … of the high-end PetBed? b. If Pet Designs wants to preserve the existing gross margin percentage, what is the target cost at a market price of $72? c. Based on your answers to (a) and (b),… Available information from Panosian Company for the years 2012 and 2011 is Available information from Panosian Company for the years 2012 and 2011 is as follows: RequiredPrepare a horizontal analysis of Panosian Company’s balances. Round percentages to one decimal point (i.e., 4.8%). Can you make a general conclusion about the direction of the company? How? A stock is selling today for $40 per share. At the end A stock is selling today for $40 per share. At the end of the year, it pays a dividend of $2 per…… … capital gain? c. Now suppose the year-end stock price after the dividend is paid is $36. What are the dividend yield and percentage capital gain in this case? d. Why is the dividend yield the… Carl made the following transfers during the current year. • Transferred $900,000 Carl made the following transfers during the current year. • Transferred $900,000 in cash and…… … for his niece’s tuition and $6,000 for her room and board. The niece is not Carl’s dependent. • Gave his aunt $22,000 for her gallbladder operation. The aunt is not Carl’s dependent. What are… Funtime Quadcopters plans to sell a standard quadcopter (toy drone) for $55 Funtime Quadcopters plans to sell a standard quadcopter (toy drone) for $55 and a deluxe…… … the deluxe quadcopter for $65. Management expects to sell two deluxe quadcopters for every three standard quadcopters. The company’s monthly fixed expenses are $11,900. How many of each type of… Divine Cosmetics Co., a company that provides individual skin care treatment, was Divine Cosmetics Co., a company that provides individual skin care treatment, was started on June…… … and a retained earnings statement for June assuming the following data are not included above: (1) $800 of revenue was earned and billed but not collected at June 30, and (2) $100 of gas and…