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District Water Company issued 10-year bonds with a face value of $100,000 and a stated interest rate of 8.0%. The bonds are dated April 1, 2016, and call for semiannual interest payments on each April 1 and October 1. Due to market fluctuations, the bonds actually sold to yield 10.0% per year. 1. Compute the amount received for the bonds. 2. Compute the first interest and amortization amounts for the October 1, 2016, payment. 3. Prepare journal entries for the issuance of the bonds and for the first interest payment. 4. Compute the second interest and amortization amounts for the April 1, 2017, payment. SOLUTION:
Dividend decisions - How should this dividend be distributed between common and preferred stockholders? Show your calculations.
Prepare a graph that illustrates the relationship between Ben's total costs (the sum of the costs of giving opening shows and running the gallery) and the number of opening shows given
On June 1, 2016, Herbal Co. received $18,900 for the rent of land for 12 months. - Journalize the adjusting entry required for unearned rent on December 31, 2016.
1. According to the concept of limited liability, the liability of shareholders of a company is restricted to the face value of shares. They have no personal obligation for the liabilities of the company.Consider the concept of limited liability and ..
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Whitney Company has just completed its first year of operations. The company's accountant has prepared an absorption costing income statement for the year as seen below: Sales (35,000 units at $25) $875,000 Beginning Inventory 0 Cost of Goods Manufac..
If a company's bonds bear an interest rate of 8%, the tax rate is 30%, and the company's assets are generating an after-tax return of 7%, then the leverage would be a. Positive b. Negative c. Neither positive or negative d. Impossible to determin..
On February 1, 2011, Lagune & Sons issued 9% bonds dated February 1, 2011, with a face amount of $200,000. The bonds sold for $182,841 and mature in 20 years. The effective interest rate for these bonds was 10%. Interest is paid semi annually on July..
Provide a description of the purpose and elements of financial reporting, budgeting, and encumbrance accounting for government organizations.
Karla Tanner opens a web consulting business called Linkworks and recorded the following transactions in its first month of operations. Apr. 1 Tanner invests $80,000 cash along with office equipment valued at $26,000 in the company in exchange for co..
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