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Mar.1 Borrowed $120,000 from Lessburg Bank. The six-year, 10% note requires payments due annually, on March 1. Each payment consists of $20,000 principal plus one year's interest. Dec 1 Mortgaged the warehouse for $150,000 cash with Sage Bank. The mortgage requires monthly payments of $5,000. The interest rate on the note is 3% and accrues monthly. The first payment is due on January 1, 2017. 31 Recorded interest accrued on the Sage Bank note. 31 Recorded interest accrued on the Lessburg Bank note. 2017 Jan 1 Paid Sage Bank monthly mortgage payment. Feb.1 Paid Sage Bank monthly mortgage payment. Mar 1 Paid Sage Bank monthly mortgage payment. 1 Paid first installment on note due to Lessburg Bank. Requirement 2. Prepare the liabilities section of the balance sheet for Discount Pharmacies on March1, 2017 after all the journal entries are recorded. First, prepare an amortization schedule for the Sage Bank mortgage to March 1, 2018. Prepare the schedule for the first three payments, then the remaining months one at a time. (Round your answers to the nearest whole dollar.) Review the related journal entries you prepared in Requirement 1 Beginning Principal Interest Total Ending Balance Payment Expense Payment Balance 12/01/2016 1/01/2017 2/01/2017 3/01/2017 4/01/2017 5/01/2017 6/01/2017 07/01/2017 08/01/2017 9/01/2017 10/01/2017 11/01/2017 12/01/2017 1/01/2018 2/01/2018 3/01/2018 Now prepare the liabilities section of the balance sheet for Discount Pharmacies on March 1, 2017. (If a box is not used in the table leave the box empty; do not enter a zero.) Review the amortization schedule you prepared above. Discount Pharmacies Balance Sheet (Partial) March 1, 2017 Liabilities
The expected return on the market is 12%. The risk-free rate is 3.5%. The corporation has a current stock price of $65. There are 15 million shares outstanding. The beta for the stock is 1.6. What is the cost of equity for the corporation? What is bo..
If Lenberg has $6 million of investment projects having expected returns greater than 12 percent, what total amount of dividends should Lenberg pay?
You are considering the purchase of a common stock that just paid a dividend of $2.00. You expect this stock to have a growth rate of 30 percent for the next 3 years, then to have a long-run normal growth rate of 10 percent thereafter. If you require..
An asset has had an arithmetic return of 10.3 percent and a geometric return of 8.3 percent over the last 90 years. What return would you estimate for this asset over the next 10 years? 25 years? 30 years?
How many shares will Maggie be able to sell if all SSC's shareholders tender their shares to the firm, as part of this repurchase program, and the company purchases shares on a pro rata basis?
When using a present value of an annuity table:
If a firm that CANNOT issue new equity grows at a rate higher than SGR, which of the following MUST be true? They can absorb the risk by plowing back the Capital Surplus. Trick question: a firm cannot grow at a rate higher than SGR
Swimkids is a swimsuit manufacturer. They sell swim suits at a selling price is $30 per unit. Swimkids variable costs are $18 per unit. Fixed costs are $81,100. Swimkids expects sales of $288,000 next year. What is Swimkids's margin of safety?
Given the following information, what is the standard deviation for this stock? Probability State of of State of Rate of Economy Economy Return Boom 0.05 0.15 Normal 0.65 0.08 Recession 0.30 -0.05
Union Local School District has bonds outstanding with a coupon rate of 3.5 percent paid semiannually and 18 years to maturity. The yield to maturity on these bonds is 3.7 percent and the bonds have a par value of $10,000. What is the price of the bo..
The Buckle (BKE) recently paid a $0.90 dividend. The dividend is expected to grow at a 19 percent rate. At the current stock price of $43.17, what is the return shareholders are expecting?
Tyler Company purchased a machine 3 years ago at a cost of $150,000. It had an expected life of 10 years at the time of purchase and an expected salvage value of $5,000. The firm has an Actual Collection Period of 63 days and pays its bills after 25 ..
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