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On January 1, 2018 Lion electric Inc. sold parts to a customer at a total price of $440,000. Lion electric Inc. received $100,000 cash and a three year 3% non-interest bearing note for the balance. Interest is payable on December 31 every year, the company's year end. The market rate for this note is 6%. The customer paid the note in full on its maturity date.
Give all the entries related to the notes receivable for the first two (2) years only. Lion electric Inc. is a public company and they use the gross method to account for notes receivable. (12 marks). Note: Non-interest bearing means the note does not give interest
For the following methods of using inventory as short-term loan collateral, describe the basic features of each, and compare their use: (a) Floating lien, (b) Trust receipt loan, and (c) Warehouse receipt loan.
By what amount will the 20X4 income assigned to the controlling interest increase or decrease if the sale of land had been from Petime to United Grain.
A corporate bond matures in 10 years and sells for $940.15. It has a coupon rate of 3.15 percent and a yield of 5.67 percent. What is unusual about the bond?
Finding the WACC. Hankins Corporation has 5.4 million shares of common stock outstanding, 290,000 shares of 5.6 percent preferred stock outstanding.
Spencer Tools would like to offer a special product to its best customers. It requires $55,000 of investment for new equipment. The fixed costs are estimated
Explain the significance of sin tax, incidence of a tax, tax loophole, individual income tax, sales tax, tax return, benefit principle of taxation.
The required return is 11.5 percent and the perpetual dividend growth rate is 3.0 percent. What price should this stock sell for five years from today?
new hope managed care inc. is a for-profit managed care company that serves the southwest unitednbsp states. last
How much would your monthly payment be on a 5-year loan if the following assumptions were true?
Work this out on a year-by-year basis and show that it equals the number obtained quickly by using the capital recovery factor.
Would you be interested in investing in this company? Why or why not? Are there additional factors that aren't a part of this case that you would investigate before making a decision, & if so, what factors?
In addition, the company has a second debt issue, a zero coupon bond with 11 years left to maturity; the book value of this issue is $60 million, and it sells for 58.0 percent of par.
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