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Problem - Sammy Company is located in a county that assesses property for tax purposes on July 1 for the period July 1-June 30. The tax rate is not determined until October 15, and the tax bills are mailed October 22 with payment due by December 31. For the prior fiscal year, the Sammy Company paid $22,500. The tax bill for the current fiscal year (July 1, 2014-June 30, 2015) is received on October 28, and property taxes have increased to $ 22,838. The company pays this amount on October 31.
Complete the following:
Record the monthly property tax accrual that is recorded in July 2014.
Record the payment of the taxes on October 31.
Record the monthly adjusting entry on October 31.
According to generally accepted accounting principles (GAAP), discuss how current liabilities should be classified.
Provide an example of each, and discuss how current liabilities are valued at the balance sheet.
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
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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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