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Cox Company recently purchased a machine by paying $10,100 cash and signing a 6-month, 10% note for $10,000. In addition to the purchase price, Cox incurred the following costs related to the machine: freight charges, $800; interest charges, $500; special foundation for machine, $400; installation costs, $1,100.
Determine the cost of the machine.
It pays interest of 1 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $12,000 cash cushion. Prepare a cash budget.
Liz contributed $80,000 of cash and land with a fair market value of $90,000 and an adjusted basis of $75,000. John contributed equipment with a fair market value of $170,000 and an adjusted basis of $20,000. John had previously used the equipment in..
Tomba Corporation had 557,400 shares of common stock outstanding on January 1, 2014. On May 1, Tomba issued 34,200 shares. Compute the weighted-average number of shares outstanding if the 34,200 shares were issued for cash. Compute the weighted-avera..
Do the necessary acquisition analysis and provide the business combination valuation entries and the pre-acquisition adjustment entry at acquisition date.
Dunkin Industries sold a 15 year $1,000 face value bond with a 10.5 percent coupon rate. Interest is paid annually. After flotation costs, Dunkin received $920 per bond. Compute the after-tax cost of debt for these bonds if the firm's marginal tax ra..
What is the potential conflict between the company’s evaluation/compensation system and Delamr's focus on the NPV of the investment in product development?
Suppose Mirror’s operating activities provided, rather than used, cash. Identify three things under the indirect method that could cause operating cash flows to be positive.
Identify a real-life outsourcing decision that has been made. Identify the specific reasons for the outsourcing. If information is available, discuss the results of the outsourcing decision (jobs lost, cost savings, etc.). Cite sources as deemed nece..
Valmont Inc. experienced the following events in 2014, its first year of operation: Received $50,000 cash from the issue of common stock. Performed services on account fot $67,000. Identify the events that result in revenue or expense recognition and..
Fundamental question on accounting for corporations - Preferred Stock and Paid-in Capital in Excess of Par Value-Preferred Stock
Burt Company produces flash drives for computers, which it sells for $20 each. Variable costs are $8 per flash drive. During March, 1,000 drives were sold. Fixed costs for March were $4.90 per unit for a total of $4,900 for the month. If variable cos..
On January 1, x1, Brown Corp initiated a non contributory defined benefit pension plan for all six employees in its word processing department. The plan benefit formula provides that each year of service earns each employee an annual retirement benef..
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