Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Krafty Kris, Inc., discovered the following errors after the 2017 financial statements were issued:
a. A major supplier shipped inventory valued at $8,550 to Krafty Kris on consignment. This merchandise was mistakenly included in the inventory taken by Krafty Kris on December 31, 2016. (Goods shipped on consignment are the property of the consignor and should not have been included in Krafty Kris's inventory.)
b. Krafty Kris renewed its liability insurance policy on October 1, 2016, paying a $36,000 premium and debiting Insurance expense. No further entries have been made. The premium purchased insurance coverage for a period of 36 months.
c. Repair expense was debited at the time equipment was purchased for $100,000 on January 1, 2017. The equipment has a life of five years; its salvage value is considered immaterial. Krafty uses straight-line depreciation method.
Required:
Prepare journal entries to correct these errors. Ignore income taxes.
What is the stock price if the discount rate for the stock is 20%? What is the dividend yield?
The bond pays interest semiannually and matures in twelve years. If the par value is $1,000, then what is the current bond price?
Contemporary financial management Follies bookstore, the only bookstore close to campus, had net income in 2005 of $90,000. Here are some of the financial ratios from the annual report. Profit Margin: 12%, Return on Assets: 20%, and debt to ratio: 55..
By how much does the required return on the riskier stock exceed the required return on the less risky stock?
The Booth Company's sales are forecasted to double from $1,000 in 2012 to $2,000 in 2013. What is Booth's additional funds needed (AFN) for the coming year?
Suppose you purchase eight put contracts on Testaburger Co. The strike price is $35, and the premium is $2.20. If, at expiration, the stock is selling for $26 per share, what are your put options worth? What is your net profit?
What is the expected price of purchase? What do they spend out of pocket and what is the resulting payoff diagram?
Write a social media policy manual that defines the creation, scope, and purpose of a social media presence for a small- to mid-size company.
Wendy's boss wants to use straight-line depreciation for the new expansion project because he said it would give higher net income in earlier years and give him a larger bonus. The project will last 4 years and requires 1, 700,00 of equipment. What w..
Assume the investor utilizes their maximum margin potential. How many shares of BUFF can the investor purchase?
WACC Empire Electric Company (EEC) uses only debt and common equity. What is its cost of common equity?
What does international Fisher effect imply to the nominal interest rate differential between countries?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd