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Question - On January 1, 2020, Booker Inc. purchases 1000 bonds issued by its 100% owned sub, Paul Co. Each bond has a par value of $1000 and a coupon rate of 5%. Paul originally issued 5000 of these bonds, and its 12/31/19 balance sheet listed total long-term debt of $5,100,000 (those bonds are the company's only debt). Booker paid $950,000 to acquire the bonds. From Paul's point of view, the bonds pay 4.54% interest and from Booker's point of view, the bond interest rate is 6.2%. Provide the consolidation worksheet adjusting entry for the bonds and interest for 2020. Show all calculations following the entry.
Dividend declared and paid - $0.15 per share on common stock. Prepare the Journal entries and closing entries for the above transaction
On March 10, 2017, Sarasota Company sold to Barr Hardware 170 tool sets at a price of $50 each (cost $32 per set) with terms of n/60, f.o.b. shipping point. Sarasota allows Barr to return any unused tool sets within 60 days of purchase. Prepare journ..
Evidence that a mutual fund has performed extraordinarily well in the past contradicts the efficient market hypothesis. False - True + explenation
What amount of income will the branch in Italia have to generate to eliminate the excess credit generated by the branch in Espania?
Explain the causes of discrepancies for this situation with a specific example for each cause? Preparing the bank reconciliation is considered
Discuss whether Shelby Davey behaved in a professional manner by subtracting the discount even though the discount period had expired
Prepare journal entries to record the foregoing transactions, assuming the university is a private institution. Prepare a statement of net position as of June.
question using these 2007 annual reports for the coca-cola company and pepsico inc. answer the subsequent questions.
How much in bonds might an investor typically hold when they are 25? What about when they are 65? For an individual investor, do you think this is a good
The best way to reduce operating leverage is to
If Penny bought a stock for $80 dollars and could sell it 15 years later for 4 times what she originally paid, what is Penny's return on owning this stock?
Invest $640 at an average 30 per cent rate of return. Find the new value of the firm after investment decision under Two-Period Perfect Certainty Model.
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