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The long-term liability section of Twin Digital Corporation's balance sheet as of December 31, 2012, included 14% bonds having a face amount of $20 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 16%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2013, Twin Digital retired the bonds at 103 ($20.6 million) before their scheduled maturity.
a) Prepare the journal entry by Twin Digital to record the semiannual interest on July 1, 2013.b) Prepare the journal entry by Twin Digital to record the redemption of the bonds on July 1, 2013.
Bechtel Machinery stock currently sells for $65 per share. The market requires a 14 percent return on the firm's stock. The company maintains a constant 8 percent growth rate in dividends. What was the most recent annual dividend per share paid on..
What will be the annual net savings? Assume that the T-bill rate is 2.6 percent annually.
Choose a product/service (e.g McDonald fastfood, HP computer...) and identify three external environment factors that might have the most important impact on the development of this product/service in three - five years. Explain your answer.
The risk-free rate with continuous compounding is 3% per annum, the stock price is $30 and the delivery price is $28. Calculate the value of this short forward contract.
AirJet Best Parts, Inc. would like to issue 20-year bonds to obtain remaining funds for the new Mexico plant. The company currently has 7.5% semiannual coupon bonds in the market that sell for $1,062 and mature in 20 years.
Portfolio is invested 37.7% in Stock A, 26.6% in Stock B, and remainder in Stock C. Expected returns are 19%, 26.1%, and 11.8% respectively. Determine the portfolio's expected returns?
A stock is selling today for $20 per share. At the end of the year, it pays a dividend of $2 per share and sells for $23.
what is the capital market? how is the promary market different from the secondary market? in your opinion are these
Key Enterprises borrows $8,000 for a short-term purpose. The loan will be repaid after 90 days, with Key paying a total of $8,150. What is the approximate cost of credit using the APY , or annual percentage yield, calculation?
Your parents are giving you $120 a month for 4 years while you are in college. At a 5 percent discount rate, what are these payments worth to you when you first start college
the bond have a 4% coupon rate, payable semiannually and a par value of 1000, mature in 10 years. the yield to maturity is 12% so the bonds now sell below par. what is the current value of the firm
The market consensus is that SuperSmart Corporation has ROE = 16% and a beta of 1.25, and an expected earnings per share (E1) of $3.16. The market believes that Super Smart Corporation plans to maintain indefinitely its retention ratio.
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