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Your company's summarized financial information for the beginning and projected end of the current year is as follows: Beginning of the Year - Assets $90,000, Liabilities 30,000, Equity 60,000, Net Income = Blank. End of the Year (projected) - Assets $100,000, Liabilities 30,000, Equity 70,000, Net Income = 15,000. Your company is considering issuing 25 bonds at the end of the year (December 31st). The bonds will pay 7% interest semi-annually for 30 years and the market rate for similar bonds is 7%. Calculate the following ratios with and without the bond issue: ROA, ROE, Debt Ratio, D/E, Dividends.
Assuming that Little uses the straight-line method of amortization and that the bonds are appropriately classified as available-for-sale, what would net carrying value of the bonds be shown as on Little's December 31, 2007, balance sheet?
Experience has shown that payment for the credit sales is received as follows: 15% in the month of sale, 60% in the first month after sale, 20% in the second month after sale, and 5% is uncollectible. How much cash can Lara Company expect to coll..
Cramer Company projects the following sales for the first 3 months of the year:$12,500. in Jan. 13,240. in Feb, 14,600.in March. Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale, 30% the m..
Multiple choice questions on stocks and debts - Which of the following statements is CORRECT?
During 2014, Gary receives a $50,000 salary and has no deductions for AGI. In 2013, Gary had a $5,000 short-term capital loss and no other capital losses or capital gains. Consider the following sales and determine Gary's AGI for 2014
JJ Enterprises recently purchased a machine for $50,000 that it uses 90% in production. Transportation costs to bring the machine to the factory were $2,000. It estimates the machine will be useful for five years and that it will be able to produce 4..
Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 30,000 actual direct labor-hours and incurred $348,000 of actual manufacturing ..
the company made purchases of $330,000 and had sales of $720,000. Assuming the rate of gross profit to selling price is 40%, illustrate what is the approximate value of the inventory that was destroyed?
Nick and Jolene have total allowable itemized deductions of $12,350- determine their 2013 taxable income and tax liability based on the project.-
On March 1, 2014, Pechstein Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,118,000. The building was completed by October 31, 2016. Using the percentage-of-completion met..
Explain the effect each cost flow (FIFO, LIFO) method would have on profit in rising and falling prices, and why..
Prepare the company's cash budget for February in good form. Make sure to indicate what borrowing, if any, would be needed to attain the desired ending cash balance.
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