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Matt Perry, Inc. had outstanding $6,134,000 of 12% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $9,010,000 of 10%, 15-year bonds (interest payable July 1 and January 1) at 99. A portion of the proceeds was used to call the 12% bonds at 103 on August 1. Unamortized bond discount and issue cost applicable to the 12% bonds were $139,000 and $36,200, respectively. Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
a promissory note has outstanding payments of 650 at the end of each of the next 5 years. what market price would be
Suppose that energy savings are less than claimed. Calculate the minimum annual cash savings that must be realized for the project to earn a rate equal to the firm's cost of capital.
You have been assigned to the audit of Processing Solutions, Inc., a privately held corporation that develops and sells computer systems. The systems are sold under one- to five-year contracts that provide for a fixed price for licensing. Describe th..
Create a PowerPoint presentation for the potential new business owner that compares and contrasts the three main business forms and addresses advantages and disadvantages of each form
Prepare the Statement of Changes in Net Position of the Flood Control Commission for the month ended October 31, 2011 and prepare the Statement of Budgetary Resources of the Flood Control Commission for the month ended October 31, 2011.
Determine the date the note matures, and calculate how much interest expense is generated by this note, both for 2012 and 2013. OR must be entered in the format dcarnmm
Prepare the journal entry to record the issuance of 200,000 shares of common stock that sell for $10 per share and have a par value of $1. Use the date of Feb 1. Date Account Name Debit Credit P1. Part 2. What impact did the above transaction have on..
Hrabik Corporation issued $600,000, 9%, 10-year bonds on January 1, 2011, for $562,613. This price resulted in an effective-interest rate of 10% on the bonds. Interest is payable semiannually on July 1 and January 1.
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in 000s) for Peach Computers. Calculate each of the following amounts for Peach Computers:
Let’s assume that a late twentieth century university graduate got a good job and began a savings account. She authorized the bank to transfer $75 each month from her checking account to her savings account. The bank made the first withdrawal 3 July ..
Compute the after-tax NPV of the new lift and advise the managers of Deer Valley about whether adding the lift will be a profitable investment.
Prose Corp. owns 70% of the common stock of Script Co. Script's revenues for 20x1 totaled $200,000. What amount of Scripts' revenues would be included in the consolidated total under the economic unit concept?
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