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Question
On November 1, 2018, Quantum Technology, a geothermal energy supplier, borrowed $16 million cash to fund a geological survey. The loan was made by Nevada BancCorp under a noncommitted short-term line of credit arrangement. Quantum issued a nine-month, 12% promissory note. Interest was payable at maturity. Quantum's fiscal period is the calendar year.
Required:
1. Prepare the journal entry for the issuance of the note by Quantum Technology.
2. Prepare the appropriate adjusting entry for the note by Quantum on December 31, 2018.
3. Prepare the journal entry for the payment of the note at maturity.
Compute the value of this stock with a required return of 12.9 percent.
You are considering an investment in a mutual fund with a 5.5 percent front-end load. Expenses and Returns the Bruin Stock Fund sells Class
Compute the future dollar costs of meeting this obligation using the money market hedge and the forward hedges.
Worldwide company has forecast sales revenues and purchases for the last 5 months of 20xx to be As follows. Sixty five percent of sales are on credit. On the basis of past experience, 50% of the accounts receivable is collected the month after the sa..
Skolits Corp. issued 15-year bonds 2 years ago at a coupon rate of 9.1 percent. The bonds make semiannual payments. What must the coupon rate be on these bonds?
Bill Williams has opportunity to invest in project A that costs 5500 today and promises to pay annual cash flows of 2200, 2600,2600, 1900, 1800 over the next 5 years. How long will it take bill to recoup his initial investment in project.
Banks prefer to make short term loans to finance the following:
Identify and research a mutual fund, or an exchange traded fund, that focuses on equities.
Use duration to estimate the new price of the bond. Calculate the new bond price.
Consider a firm where the effort undertaken by managers can affect cash flows in the next period. For simplicity, assume managers either exert low effort or high effort. Assume that investors cannot observe effort. Assume that, with low effort, the f..
The Ziggy Trim and Cut Company can purchase equipment on sale for $4,300. The asset has a three-year life, will produce a cash flow of $1,200 in the first and second year, and $3,000 in the third year. The interest rate is 12%. Calculate the project'..
Sky Corporation recently reported an EBITDA of $ 31.1 million and net income of $9.7 million. The company had $ 6.8 in interest expense, and its average corporate tax rate was 35%. What was its depreciation and amortization expense? Please show your ..
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