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Question 1:
Myriad Solutions, Inc., issued 10% bonds, dated January 1th, with a face amount of $320 million on January 1, 2013 for $283,294,720. The bonds mature on December 31, 2022 (approx. 10 years). For bonds of similar maturity and risk the market yield is 12%. Interest is paid semiannually on June 30 and December 31. Required: 1. Evaluate the net amount of the liability Myriad would report in its balance sheet at December 31, 2013? 2. Determine the amount related to the bonds that Myriad could report in its income statement for the year ended December 31, 2013? 3. Evaluate the amount(s) related to the bonds that Myriad would report in its statement of cash flows for the year ended December 31, 2013? Question 2:
American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2013. In payment for the $4 million machine, American Food Services issued a four-year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 10%. Required : 1. Evaluate the journal entry for American Food Services' purchase of the machine on January 1, 2013. 2. Determine the amortization schedule for the four-year term of the installment note. 3. Evaluate journal entry for the first installment payment on December 31, 2013. 4. Evaluate the journal entry for the third installment payment on December 31, 2015.
Two million options were forfeited when an executive resigned in 2012. All other options were exercised on 12th July, 2015, when the stock's price jumped unexpectedly to $19 per share.
Dean sell the stock and then donate the cash, or should he contribute the stock directly? Evaluate the net tax benefit from each alternative and describe the difference.
Liltua Company pays $375,280 for real estate plus $20,100 in closing costs. The real estate consists of land appraised at $157,040; land improvement appraised at $58,890; and a building appraised at $176,670. Allocate the total cost among the thre..
Compute the February conversion costs in the Filtration Department and the Filtration Department completely processed 150,000 liters in February.
Do you think that expenditures on human capital should be treated as an asset or an expense? Why or why not?
question 1partners ma running-buck and mcfarlane own a hotel. mcfarlane decides that the business has far fewer linens
Ranger Company produces men's ties. Budgeted and actual costs for March - Find the total variance from the flex
Determine the basic and diluted earnings per share values for year ending 31 st December, 2011. Austin has compiled the information given below.
Prepare a schedule that shows the relevant cost of operating the existing equipment versus the cost of operating the new equipment for a four year time period - Should the existing equipment be replaced based upon your quantitative analysis? Explai..
Theory of Interest- Non-annual interest rates and annuities
Check any weaknesses in the existing internal control system over cash admission fees.
List and explain three ways a firm can determine long-run prices - explain when each method would be most suitable and the strengths and weaknesses of each method.
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