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I need help to solve this question... Skip the previous question and slove this one... The following information was taken from the ledger and other
I need help to solve this question...
Skip the previous question and slove this one...
The following information was taken from the ledger and other records of Lillie Inc, at December 31, 2022. All amounts are pre-tax. Additional Information: There was no change in number of preferred shares during. the year. Preferred share cash dividends were in arrears for 2021. There were 140,000 common shares outstanding on January 1, 2022. 24,000 shar issued on April 1, 2022 and another 16,000 shares were issued on Oct 1, Required: Prepare an Income Statement in good form for Lillie Inc, for the fiscal year ended December 31,2022 . Use an income tax rate of Include full earnings per share disclosure and show all calculations. Queen Energy Inc. issued bonds on January 1, 2023. that pay interest semiannually on June 30 and December 31. The par value of the bonds is $310.000, the annual contract rate is 12%, and the bonds mature in 10 years. (Use TABLE 14A.1 and TABLE 14A.2) (Use appropriate factor(s) from the tables provided.) Required: a. For each of these three situations, determine the issue price of the bonds. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) b. For each of these three situations, prepare the journal entry that would record the issuance, assuming the market interest rate at the date of issuance was (1) 8%, (2) 12\%, (3) 14%. (Use PV tables in determining the issue price of the bonds, Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Journal entry worksheet Record the sale of bonds on original issue date at 8% market interest rate. Notet Epter debits before credits Step by Step Solution
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