Entries by Munene david

This question was created from Quiz 1 ACCT II UMUC.docx

May 6, 2020 in /by

This question was created from Quiz 1 ACCT II UMUC.docx https://www.coursehero.com/file/37267059/Quiz-1-ACCT-II-UMUCdocx/  ATTACHMENT PREVIEW Download attachment 37267059-261669.jpeg At fiscal year end, December 31, 2&13, Somerset Corporation had total stockholders‘ equity of $4,200,0fl0. On FY 20’18 year end, Somerset Corporation had Common Stock account of $1,450,000 of $10 par value common stock and Preferred Stock account of $150,011!) […]

 

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The following are selected accounts for the Wicomico Company

May 6, 2020 in /by

The following are selected accounts for the Wicomico Company after all Fiscal Year December 31, 2018, adjusting entries & closing entries have been posted. All balances are normal. Account Amount Common Stock, $10 par $260,000 Treasury Stock, at cost $16 per share 32,000 Dividends Payable 13,000 Paid in Capital in excess of par, Common Stock […]

 

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Allstar Company signed a $100,000 mortgage on July 1, 2018

May 6, 2020 in /by

Allstar Company signed a $100,000 mortgage on July 1, 2018 for the purchase of their new garage building. The mortgage entailed equal monthly payments of $2,600 at the end of each month. The interest rate is 5.0% per year.  How much interest expense will be paid on August 31, 2018? (Round your answer to the nearest […]

 

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Annapolis Company purchased a $4,000, 8%, 10-year bond at 101

May 6, 2020 in /by

Annapolis Company purchased a $4,000, 8%, 10-year bond at 101 and held it to maturity. The straight line method of amortization is used for both premiums & discounts. What is the net cash received over the life of the bond investment?  (all money received minus all money paid, round to nearest whole dollar)   Looking for […]

 

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