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!
Question - Cairo corporation has municipal bonds classified as available for sale at December 31, 2012. These bonds have a par value of $800,000, an amortized cost of $800,000, and a fair value of $740,000. The unrealized loss of $60,000 previously recognized as other comprehensive income and as a separate component of stockholder's equity is now determined to be other than temporary. That is, the company believes that impairment accounting is now appropriate for these bonds.
A. Prepare the journal entry to recognize the impairment.
B. What is the new cost basis of the municipal bonds? Given that the maturity value of the bonds is $800,000, should Cairo Corporation amortize the difference between the carrying amount and the maturity value over the life of the bonds?
C. At December 31, 2013, the fair value of the municipal bonds is $760,000. Prepare the entry (if any) to record the transaction.
A firm issues $100,000 par value of bonds in which the coupon rate is 10% and the yield to maturity is 12%. Assume this firm has $20,000 in operating cash flow before the bond issue. Discuss the influence the bond issue would have on the balance s..
capital budgeting emphasizes the key role management has in value creation by taking projects and expanding the size of
What is the incremental cost associated with producing an extra 50,000 jars of salsa. What is the incremental cost associated with the price reduction of $0.30 per jar?
Today, companies must decide whether to sell their products directly to their customers via the Internet or to use more traditional methods of distribution.
What do you think the advantages and disadvantages would be for you as a user? What do you think the advantages and disadvantages would be for the company
george masonry accepted a four-month 10 interest 1800 note from earth tones on july 1 2008. the entire balance is
prepare the proper adjusting journal entries for the abc company. assume all entries are made at year end december 31
Explain how "materiality" is defined by both FASB and IASB. Briefly summarize the meaning of this term and how it relates to an entity's financial statements
In your own Words, explain the economic entity assumption. Why do you feel that this is important for business owners
The $1,500,000 note receivable is dated May 1, 2009, bears interest at 9%, and represents the balance of the consideration received from the sale of Braddock's electronics division to New York Company.
hard corporation projects sales of 230000 in may 250000 in june 260000 in july and 240000 in august. since the dollar
Disclosure of possible fraud to parties
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