Studies Weekly Week 6: Natives of Florida Flashcards

Organize the class into three sections and divide each section into groups of three to five students. Assign each of the sections one of the companies.

1. Compute the following amounts for your company (use straight-line amortization):

(a) Cash proceeds from the bond issue.

(b) Interest paid in 2016.

(c) Interest expense for 2016.

2. Prepare the liabilities section of the balance sheet as of December 31, 2016.

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accounting

What is the amount of a call option at expiration?

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business math

Find the sum.

$19,803 +$28,809 + $12,490

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accounting

Mystic Magic issued a $120,250 note on January 1, 2018 to a customer, Amy Arnold, in exchange for merchandise. Terms of the note are 9-month maturity date on October 1, 2018 at a 9.6% annual interest rate. Amy Arnold does not pay on her account and dishonors the note. On November 10, 2018, Mystic Magic decides to sell the dishonored note to a collection agency for 25% of its value. Record the journal entries for Mystic Magic for the following transactions.

A. Initial sale on January 1, 2018

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