Entries by Munene david

On January 1, 2018, Baltimore Company issued $100,000 face value,

May 4, 2020 in /by

On January 1, 2018, Baltimore Company issued $100,000 face value, 6%, 10-year bonds at 102. Interest is paid annually on January 1. Baltimore uses the straight-line method for amortization. Use this information to determine the dollar value of the interest expense for the 2018 fiscal year. Round your answer to the nearest whole dollar.   Looking for a […]

 

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At fiscal year end, December 31, 2018,

May 4, 2020 in /by

At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders’ equity of $4,000,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,250,000 of $10 par value common stock and Preferred Stock account of $100,000 of $100 par value.  There was no treasury stock. The preferred stock was noncumulative and had […]

 

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1.Riley, LLC, (lessee) entered into a 5-year operating lease on January

May 4, 2020 in /by

1.Riley, LLC, (lessee) entered into a 5-year operating lease on January 1, Year 1. Annual lease payments of $40,000 are due on December 31 each year. Initial direct costs related to the lease incurred by Riley are $20,000. The rate implicit in the lease is 8%. The present value of an ordinary annuity at 8% […]

 

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The following financial information is for Chesapeake Corporation 

May 4, 2020 in /by

The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal): Use this information to determine the number of days in inventory for 2018: (Use a 365 day year. Round & enter your answers to one decimal place and enter the value.)  ATTACHMENT PREVIEW Download attachment 2019-11-09 (3).png Item/Account 2018 […]

 

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