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Septer Corporation issued 2,000 of its $1,000, 8% ten-year bonds dated July 1, Year 1. On September 1, Year 1, at a time when the market paid 9% for bonds of similar risk. The bonds were quoted at 94 and pay interest quarterly on September 30th and December 31st. What were the total proceeds of the bond issue at the time of sale:
A. $2,000,000
B. $1,880,000
C. $1,906,667
D. $1,893,333
Show the journal entries in 2006. (Please be reminded the year-end for ABC Corporate is Dec 31, adjusting is required)
Thrifty Co. reported net income of $465,000 for its fiscal year ended January 31, 2011. At the beginning of that fiscal year, 200,000 shares of common stock were outstanding.
Draw Jim's budget line (throughout, please put coffee on the vertical axis)-Use a budget line-indifference curve map analysis to explain which pricing scheme Jim prefers.
Top Company obtained 100 percent of Bottom Company's common stock on January 1, 20X6 by issuing 12,500 shares of its own common stock, which had a $5 par value and a $15 fair value on that date.
During 2010, Shirley Nutt, the sole shareholder of a calendar year S corporation, received a distribution of $16,000. On December 31, 2009, her stock basis was $4,000.
If the expected sales volume for the current period is 7,000 units, the desired ending inventory is 200 units, and the beginning inventory is 300 units, the number of units set forth in the production budget, representing total production for the ..
Stacy Ann Lynn, the great grand-daughter of the company's founder is the current CEO/President of the company, which is still a family owned business.
A local finance company quotes a 16.8 percent interest rate on one-year loans. So, if you borrow $30,000, the interest for the year will be $5,040. Because you must repay a total of $35,040 in one year, the finance company requires you to pay $35,..
In November 2011, Kendall purchases a computer for $4,000. She does not use Sec. 179. She only uses the most accelerated depreciation method possible.
Gridiron University is a private university. A successful alumnus has recently donated 1,000,000 to Girdion for the purpose of funding a "center for the study of sports ethics."
At the beginning of the year, Albers, Inc., has total stockholders' equity of $840,000 and 40,000 outstanding shares of a single class of capital stock.
During the year, Ruby corporation, a calendar year taxpayer, has the following transactions:
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