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Hartford Research issues bonds dated January 1, 2013, that pay interest semiannually on June 30 and December 31. The bonds have a $40,000 par value and an annual contract rate of 10%, and they mature in 10 years. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided. Round all table values to 4 decimal places, and use the rounded table values in calculations. Round your 'Present Value' answers to the nearest whole dollar.) Required: Consider each of the following three separate situations. 1. The market rate at the date of issuance is 8%. (a) Complete the below table to determine the bonds' issue price on January 1, 2013. (b) Prepare the journal entry to record their issuance. 2. The market rate at the date of issuance is 10%. (a) Complete the below table to determine the bonds' issue price on January 1, 2013. (b) Prepare the journal entry to record their issuance. 3. The market rate at the date of issuance is 12%. (a) Complete the below table to determine the bonds' issue price on January 1, 2013. (b) Prepare the journal entry to record their issuance.
Explain why the value of the leased asset and the accompanying lease obligation are not reported on the balance sheet initially at $80,000.00
On May 1, 2010, Stanton Company purchased $50,000 of Harris Company's 12% bonds at 100 plus accrued interest of $2,000. On June 30, 2010, Stanton received its first semiannual interest. On February 1, 2011, Stanton sold $40,000 of the bonds at 103..
XYZ plc provides engineering and consultancy services tothe oil and gas industry. Over the past few years, they have incurred expenditure of £1m researchingand developing a new product, the "UniSensor" for which they have registered a patent.
Betsy receives a salary of $50,000 from her employer (a retail clothing store) and several fringe benefits. Her employer pays premiums of $300 for her $40,000 group term life insurance coverage and pays $2,400 for medical insurance premiums.
Prepare a short memo from giving your recommendations as to the proper reporting of the earthquake damage costs in the income statement for the year ending august 4, 1990.
What are some methods a business uses to determine if the activity is value added or not? How do you think business learn from customers (consumers) what is value added and what is not value added?
Prepare the journal entries to record the depot and theasset retirement obligation for the depot on January 1, 2007. Basedon an effective interest rate of 6%, the present value of the asset retirement obligation on January 1, 2007, is $41,879.
Fields Corporation has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Fields incurs $2,220,000 in fixed costs. The contribution margin ratio for Sporting Goods is 30%, while for Spor..
General Optic Corporation operates a manufacturing plant in Arizona. Due to a significant decline in demand for the product manufactured at the Arizona site-Determine the amount of impairment loss
cashbalance per bank $6,950; outstanding checks $762; deposits intransit $1,700; and a bank service charge $20. Determine theadjusted cash balance per bank at August 31, 2005.
Prince Corporation purchased 960,000 shares of Smithtown Corporation's common stock (an 80% interest) for 21,200,000 on January 1, 2006. The 2,000,000 excess of investment cost over book value acquired was allocated to goodwill-Calculate the balan..
Provide the necessary journal entries to record the transactions for Wilcox for the period January 2, 2011 through December 31, 2012.
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