CourseLover

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About CourseLover

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Engineering,Health & Medical,HR Management,Law,Marketing,Math,Physics,Psychology,Programming,Science Hide all
Teaching Since: May 2017
Last Sign in: 283 Weeks Ago, 4 Days Ago
Questions Answered: 27237
Tutorials Posted: 27372

Education

  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

Experience

  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Business & Finance Posted 07 Dec 2017 My Price 10.00

ACC 3100 Exam I PRACTICE PROBLEMS

Hi shelly, please do this practice exam with simple to follow step by step solutions to every questions. Thanks

ACC 3100 Exam I PRACTICE PROBLEMS Summer 2017 Problem I A company issues $100,000, 8%, 5-year bonds to yield 10% on 1/1/14. Interest is paid on June 30 and December 31 . The proceeds from the bonds are $92,278. Required: Prepare an amortization schedule covering the period 1/1/16 to 12/31/16. Problem 2 At 12/31/16 a company owed $800,000 to Citibank. Due to financial difficulties, the company also owed accrued interest of $10,000. Under a troubled debt restructuring, on 12/31/16, the company agreed to settle the debt for a tract of land having a fair value of $700,000. The company originally paid $620,000 for the land. Required: 1 ) What is the gain or loss on disposal of the asset? 2) What is the amount of gain on restructuring? Problem 3 On 1/1/16 a company had bonds payable of $500,000. The unamortized discount at 1/1/16 was $60,000. On 1/1/16 the company retired all the bonds at 98. Required: I ) What is the carrying value of the bonds at 1/1/16? 2) What is the amount of gain or loss on retirement?
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CourseLover
(12)
Status NEW Posted 07 Dec 2017 03:12 PM My Price 10.00

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