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Question 1: On January 1, 2020, HIBISCUS Company purchased 4,000 of ?1,000 face value, 10% bonds of IXORA Company for ?4,270,600. The bonds will mature on January 1, 2025 and pay interest semi-annually on January 1 and July 1. Bonds effective interest rate is 8%. HIBISCUS has a business model of collecting all the contractural cash flows related to the instrument. How much should HIBISCUS report as interest income on the bonds?
Journalize (a) the acquisition of the equipment, (b) the amortization for, (c) the accrued interest at December 31, and (d) the second lease payment
What is the fair value today of a common share with expected annual dividends of $1.00, $1.05, and $1.10 in each of the next three years
How should the company classify the FCCBs on 31st March 2013? Will your answer be different if the company expects that FCCBs holders will convert
Find application of the lower-of-cost-or-market rule would. increase earnings and decrease the current ratio./ decrease earnings and increase the current ratio.
Use the following information to prepare a statement of cash flows for the Ace Company for the year ended December 31, 2020. The company borrowed $20,000 on a two-year note from the bank. Dividends of $8,000 were paid in cash.
Matt Perry, Inc. had outstanding $6,134,000 of 12% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $9,010,000 of 10%, 15-year bonds (interest payable July 1 and January 1) at 99. Unamortized bond discount and iss..
On January 1, 2014, A company acquired 60% of the outstanding shares of B company by paying $1.2 Million in cash, the fair value of B's identifiable asset and liability is $2 million and $ 0.5 million respectively. Using the fair value to measure no ..
Y3K, Inc., has sales of $6,612, total assets of $2,053, and a debt-equity ratio of 2. If its return on equity is 10 percent, what is its net income?
an investment offers 8800 per year for 14 years with the first payment occurring 1 year from now. assume the required
How much and what kind of gain or loss does she recognize from each sale? What tax rate applies to the neg gain if Barbara is a single individual with $169,000
The following events pertain to The Craft Shop, which began operations in October 2014. The company uses the perpetual inventory method. What was the amount of cash that The Craft Shop paid on October 10? What was the amount of cash that The Craft Sh..
Earnings Releases and other financial information available on company's Investor Relations Web site to determine the items.
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