4.( TCO D) Grider Industries, Inc. issued $ 6,000,000 of 8 % debentures on May 1, 2010 and received cash totaling $ 5,323,577. The bonds pay interest semiannually on May 1 and November 1. The maturity date on these bonds is November 1, 2018. The firm uses the effective-interest method of amortizing discounts and premiums. The bonds were sold to yield an effective-interest rate of 10 %. ================================================== ACCT 553 Week 1 Homework
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================================================== ACCT 553 Week 2 Homework
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4.( TCO D) Grider Industries, Inc. issued $ 6,000,000 of 8 % debentures on May 1, 2010 and received cash totaling $ 5,323,577. The bonds pay interest semiannually on May 1 and November 1. The maturity date on these bonds is November 1, 2018. The firm uses the effective-interest method of amortizing discounts and premiums. The bonds were sold to yield an effective-interest rate of 10 %. ================================================== ACCT 553 Week 1 Homework
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Chapter 1( 5 pts) 1. Briefly discuss the purpose of the Sixteenth Amendment Chapter 2( 5 pts) 2. Explain the two " safe harbors " available to an Individual taxpayer to avoid a penalty for underpayment of estimated tax. Chapter 3( 5 pts) 3. Explain the distinction between an " above the line " deduction( i. e. FOR AGI) and a below the line deduction( i. e. FROM AGI). Which one is more valuable? Chapter 13( 5 pts) 4. What is an Installment Sale? Is it a form of income " deferral "? When can ' t you elect this form of reporting?
================================================== ACCT 553 Week 2 Homework
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