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Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July 1 Stockholders invested $14,000 cash in the business in exchange for common stock. 1 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account. 3 Purchased cleaning supplies for $800 on account. 5 Paid $1,800 on a 1-year insurance policy, effective July 1. 12 Billed customers $3,800 for cleaning services. 18 Paid $1,000 of amount owed on truck, and $400 of amount owed on cleaning supplies. 20 Paid $1,600 for employee salaries. 21 Collected $1,400 from customers billed on July 12. 25 Billed customers $1,500 for cleaning services. 31 Paid gasoline for the month on the truck, $400. 31 Declared and paid a $600 cash dividend. Post the July transactions (Post entries in the order of journal entries presented above.)
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You need $19,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortized loan. He would like you to make annual payments for 5 years, with the first payment to be made one year from today. He requires a 9% annual r..
A firm is valued at $8 million and has debt of $2 million outstanding. The firm has an equity beta of 1.5 and a debt beta of .60. The beta of the overall firm is:
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If the 10-year Australian government bond rate is currently 3.8%, what would be the coupon rate at which a 10-year corporate bond rate for Seuss Inc would be set, taking into account the fact that the spread for a company with the same (5.6%) probabi..
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Regarding expensing an asset's cost immediately versus capitalizing the cost and depreciating it over time: All else the same, given a choice, a tax paying firm would generally prefer to: Capitalize the cost & depreciate, because they will make the c..
NNR Inc's balance sheet showed total current assets of $1,875,000 plus $4,225,000 of net fixed assets. All of these assets were required in operations. The firm's current liabilities consisted of $475,000 of accounts payable, $375,000 of 6% short-ter..
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