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McBean Inc. reported net income of $300,000 for the year ended December 31, 2009. McBean Inc. had 50,000 shares of common stock outstanding throughout 2009. On January 1, 2009, McBean Inc. issued 400, five-year, $1,000 face value bonds at par. The bonds pay 6 percent interest, and each bond can be converted into 20 shares of common stock. Assume McBean Inc. has a 30 percent income tax rate. None of the bonds were converted in 2009. 1 Compute the basic EPS and diluted EPS for McBean Inc. for 2009. 5. On Nov 1, 2010 you purchased a 2 year insurance policy for $4800. You debited insurance expense. At the end of the year you did not prepare an adjustment. The books are closed. What is the entry to be prepared at the beginning of 2011? 6. On Sept 1, 2010 you received $3600 of rental income 1 year in advance. You credited rent revenue. At the end of the year you did not prepare an adjustment. The books are closed. What is the entry to be prepared at the beginning of 2011? 7. On Oct 1, 2010 you borrowed $12000 and issued a 1 year note payable. The interest rate was 8%. At the end of the year you did not prepare an adjustment. The books are closed. What is the entry to be prepared at the beginning of 2011? 8. On Jan 1, 2010 you had in supplies inventory $1200. On Feb 1 you purchased supplies costing $1800 and you debited supplies expense. On April 1, you purchased supplies costing $500 and debited supplies. On November 1, you purchased $900 of supplies and debited supplies expense. At the end of the year you had $300 of supplies on hand. You did not make an adjusting entry. The books are closed. What is the entry to be prepared at the beginning of 2011?
If Stocks 1 and 2 have expected returns of 9 percent and 10 percent per year, respectively, then what is the minimum expected annual return for Stock 3 that will enable Glenda to achieve her investment requirement?
The Boat House offers credit terms of 2/15, net 45 to all of its customers. Historically, 86 percent of its customers take advantage of the discount. What is the firm's average collection period?
Finding the transfer price in different situations - If Austria introduces an import tariff of 25 percent on microwave ovens, and permits this to be a deductible expense in figuring the subsidiary's income tax, what should the transfer price be?
Now suppose you have only 60000 you can invest, but you can borrow the other 40000 needed to make the risky investment given above. The loan for the 40000 will be a 7.8% APR installment loan, with monthly payments what is the expected EAR of the 6..
You spend $250 in your savings account at the end of each year and earn an average of 6% per year in interest. How much will you have in your savings account at the end of forty years?
Computation of beta and asset beta and compute the beta of Compton Technology's debt by dividing the covariance of the debt's return
During this tax year, company is liable to pay tax @ 35%, andinvestors are expecting that earnings and dividends will grow at a constant rate of 10%.Current year's dividend is Rs. 4 per share and the common stocks are selling at Rs. 60per share.
A company has developed improvements to a product line. The plant can be converted in one of two ways. Evaluate the NPV of the Type I plant bu using a 12% discount rate.
lia wu and becca sims are partners who share in the income equally and have capitol balances of 150000 and 62500 respectivly. Wu with the consent of sims sells on third of her interest to kara oliver.
The Easton manufacturing Company is looking to replace its conveyor belt system. A new system will cost $345,000, and will result in cost savings of $220,000 in the first year, followed by savings of $100,000 per year over the following 3 years.
A corporation borrows $2 million from a bank at a 6 percent prime rate. If the bank requires the company to hold 15 percent of the amount of the loan on deposit as a compensating balance, what is the effective rate of interest on the loan?
The current yield on similar straight bonds is 15%. What is the implied value of each warrant? (a) $3.76 (b) $3.94 (c) $4.14 (d) $4.35 (e) $4.56
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