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Question - Centerville Art Museum received the following contributions in 2009. Prepare journal entries to record these events and any year-end adjusting journal entries resulting from the events.
(a) Unrestricted pledges of support were received in the amount of $70,000. All of these are due within the year and it is estimated that 10% will ultimately prove to be uncollectible.
(b) 1,200 Memberships were sold to the public in the amount of $40 each. Membership provides the individual with a monthly magazine and other benefits. The estimated fair value of member benefits is $25. The member year runs from July 1 to June 30.
(c) A local carpenter donated supplies and labor with values of $14,000 and $5,000 to construct a new exhibition area. Fixed assets are classified as unrestricted net assets.
(d) On March 1, 2009 a local businessman made a pledge payable in a future period. The pledge is restricted in purpose and has a present value of $140,000 (effective interest rate of 8%).
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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