Recent content by ox_Sammy_ox

The following T account is a summary of the cash account of Edmonds Company. Cash (Summary Form) Balance, Jan. 17,330 Receipts from customers365,760 Payments for goods175,090 Dividendson stock invest. 6,760 Pay. for operating expenses 151,120 Proceeds...

Deng Company issued $590,400 of 5-year, 6% bonds at 96 on January 1, 2008. The bonds pay interest twice a year. 1.Prepare the journal entry to record the issuance of the bonds. 2. Compute the total cost of borrowing for these bonds. 1B. Prepare the journal entry to record the issuance of...

On January 1, Flory Company issued $252,700, 9%, 5-year bonds at face value. Interest is payable semiannually on July 1 and January 1. I need to prepare journal entries to record the following events with the account titles and the amounts in the debit and credit columns. 1. The issuance of...

A Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $16 per year. During November 2008, They sell 23,592 subscriptions beginning with the December issue. They prepare financial statements quarterly and recognize subscription revenue earned at the...

On October 31, the stockholders' equity section of Omar Company consists of common stock $568,900 and retained earnings $885,700. Omar is considering the following two courses of action: (1) declaring a 5% stock dividend on the 56,890, $10 par value shares outstanding, or (2) effecting a 2-for-1...