Prepare the journal entry to record the issue of a 5-year $1,000,000, 8% bond at 99.

Peanut corporation authorized 1,000 shares of $20 par preferred stock with a 9% dividend rate. On January 2, the corporation issues 200 shares of preferred stock at $22 per share. The journal entry to record the issue of stock will include ________________.

A machine with a cost of $200,000 has an estimated residual value of $20,000 and an estimated life of 5 years or 20,000 hours. It is to be depreciated by the units-of-output method. What is the amount of depreciation for the second full year, during which the machine was used 7,000 hours?

Punt Inc sold merchandise to the AAA Accounting Firm for $15,600. The cost of merchandise was $7,200. The sale is subject to terms 1/10, n/30, FOB shipping point. A. What is the amount of the sales discount? B. Who will pay the freight? C. What is the general journal entry for the sale of the merchandise? *Don’t forget inventory

The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts payable $1,500 Fees earned $3,600 Accounts receivable 1,800 Insurance expense 1,300 Prepaid insurance 2,000 Land 3,000 Cash 3,200 Wages expense 1,400 Unearned Revenue 1,200 Capital 8,800 Total assets are

The Spradlin Corporation has issued 3,000 shares of common stock, 2,800 shares are outstanding and 200 shares are held as treasury stock. On November 15, Spradlin’s board of directors declares a cash dividend of $2.00 per share payable on December 15, to stockholders of record on December 1. On November 15th the journal entry to record the declaration of the dividend would include a debit of ______________.

Financial statements are standard reports designed to provide information about the financial position of a company. The common set of rules for preparing financial statements are called:

Cumberland Co. sells $2,000 of inventory to Hancock Co. for cash. Cumberland paid $1,250 for the merchandise. Under a perpetual inventory system, which of the following journal entry (ies) would be recorded?

A 2 for 1 stock split will: 

If the following question were to be asked during an interview, it would be considered _____ to ask: “What is your opinion of office romances?”