Prepare all of the relevant journal entries from the time of sale until the date indicated. use the effective-interest method for discount and premium amortization (construct amortization tables where applicable). amortize premium or discount on interest dates and at year-end.
(1) sanford co. sells $500,000 of 10% bonds on march 1, 2014. the bonds pay interest on september 1 and march 1. the due date of the bonds is september 1, 2017. the bonds yield 12%. give entries through december 31, 2015.
(2) titania co. sells $400,000 of 12% bonds on june 1, 2014. the bonds pay interest on december 1 and june 1. the due date of the bonds is june 1, 2018. the bonds yield 10%. on october 1, 2015, titania buys back $120,000 worth of bonds for $126,000 (includes accrued interest). give entries through december 1, 2016.

8. agreement and disagreement among economists suppose that bob, an economist from a university in arizona, and cho, an economist from a public television program, are arguing over saving incentives. the following dialogue shows an excerpt from their debate: cho: i think it's safe to say that, in general, the savings rate of households in today's economy is much lower than it really needs to be to sustain an improvement in living standards. bob: i think a switch from the income tax to a consumption tax would bring growth in living standards. cho: you really think households would change their saving behavior enough in response to this to make a difference? because i don't. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? rent ceilings reduce the quantity and quality of available housing. immigrants receive more in government benefits than they contribute in taxes. having a single income tax rate would improve economic performance.

At the end of year 2, retained earnings for the baker company was $3,550. revenue earned by the company in year 2 was $3,800, expenses paid during the period were $2,000, and dividends paid during the period were $1,400. based on this information alone, retained earnings at the beginning of year 2 was:

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period