ACC 422 Week 4 DQ 1 For more course tutorials visit www. uophelp. com
ACC 422 Week 4 DQ 2 For more course tutorials visit www. uophelp. com
123. On January 1, year 2, Battle Corporation sold at 97 plus accrued interest 200 of its 8 %, $ 1,000 bonds. The bonds are dated October 1, year 1, and mature on October 1, year 12. Interest is payable semiannually on April 1 and October 1. Accrued interest for the period October 1, year 1, to January 1, year 2 amounted to $ 4,000. As a result on January 1, year 2, Battle would record bonds payable, net of discount, at
124. Jackson Corporation provides an incentive compensation plan under which its president is to receive a bonus equal to 10 % of Jackson’ s income in excess of $ 100,000 before deducting income tax but after deducting the bonus. If income before income tax and the bonus is $ 320,000, the amount of the bonus should be =================================================
ACC 422 Week 4 DQ 1 For more course tutorials visit www. uophelp. com
Week 4 – DQ 1 What are the criteria for classifying an item as a current liability? What are some examples of current liabilities? Why is it important to classify a portion of long-term debt on a yearly basis as a current liability? What is the implication of misclassifying a liability as current or longterm? =================================================
Week 4 – DQ 2 What is a contingency?
ACC 422 Week 4 DQ 2 For more course tutorials visit www. uophelp. com