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The Biltmore National Bank raised capital through the sale of $150 million face value of eight percent coupon rate, ten-year bonds. The bonds paid interest semiannually and were sold at a time when equivalent risk-rated bonds carried a yield rate of ten percent.
Problem 1: Calculate the proceeds that The Biltmore National Bank received from the sale of the 8% bonds.
Your accounts receivable clerk, Mitra Adams, to whom you pay a salary of $2,655 per month, has just purchased a new Acura. You decided to test the accuracy of the accounts receivable balance of $207,090 as shown in the ledger. Compute an estimate of ..
Ranger Corp. had a beginning balance in accounts receivable of $70,000 and an ending balance of $91,000. Sales during the period were $483,000. Determine cash collections.
There was only one job left in work in process at the end of May which contained P6, 300 of overhead. What amount of direct material was included?
The bond has a maturity of 20 years and a yield to maturity of 14.27%, compounded semi-annually. What is the current price of the bond?
On January 1, 2017, Forrester Company issued $519,500, 8%, 5-year bonds at face value. Interest is payable annually on January 1. Prepare the journal entry to record the issuance of the bonds. Prepare the journal entry to record the accrual of intere..
The cash rebate offer, how much cash does the customer need to pay to buy the new car? We assume that regular market interest rate for auto loan is 6%.
Why do companies pay rating agencies such as Moody's and S&P to rate their bonds, when it is not required?
Mate Corporation's standard wage rate is $11.90 per direct labor-hour (DLH) and according to the standards, each unit of output requires 4.5 DLHs. In May, 2,900 units were produced, the actual wage rate was $11.50 per DLH, and the actual hours were 1..
On June 1, 2012, Andre Company and Agassi Company merged to form Lancaster Inc. A total of 869,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis. On April 1, 2014, the company issued an additional 623..
Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $58,500. At the beginning of year 1, Molly has tax basis and an at-risk amount of $21,500. In year 1, Beau Geste incurs a loss of $187,000 ..
Bill is employed by abc academy Ltd and uses his own car for employment activities. Which may not be claimed as employment expense deduction?
How would accept the order affect Maui Juda's operating income? In addition to the special order's effect, what other (long-term, qualitative) factors should Maui Juda's managers consider in deciding whether to accept the order?
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