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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