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Question - Below are two independent situations:
1. On August 31st, 2020, The Langley Hornets Lacrosse Club sold season tickets for the upcoming season. The club sold 4,000 season tickets for $500.00 each. The Hornets play a 24-game schedule with eight games played between October and December 31st, 2020 and the remainder to be played in the period from January to March 2021. The club's year end is December 31st.
Prepare the journal entry to record the sale of the season tickets on August 31st and any adjusting entries required on December 31st, 2020.
2. Burnaby Ltd. is involved in a pending court case. Burnaby's lawyers believe the company will likely have to pay between $500,000 and $750,000 to the plaintiff.
For each situation briefly explain the appropriate accounting treatment and how the information would be presented in the financial statements.
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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