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Linda Clark received $182,000 from her mother's estate. She placed the funds into the hands of a broker, who purchased the following securities on Linda's behalf: a.Common stock was purchased at a cost of $103,000. The stock paid no dividends, but it was sold for $163,000 at the end of 3 years. b.Preferred stock was purchased at its par value of $24,000. The stock paid a 7% dividend (based on par value) each year for 3 years. At the end of 3 years, the stock was sold for $20,000. c.Bonds were purchased at a cost of $55,000. The bonds paid $3,300 in interest every six months. After 3 years, the bonds were sold for $58,300. (Note: In discounting a cash flow that occurs semiannually, the procedure is to halve the discount rate and double the number of periods. Use the same procedure in discounting the proceeds from the sale.) The securities were all sold at the end of 3 years so that Linda would have funds available to open a new business venture. The broker stated that the investments had earned more than a 18% return, and he gave Linda the following computations to support his statement: Using a 18% discount rate, compute the net present value of each of the three investments. Common Stock ________ Preferred Stock ________ Bond ________
Barrett Corporation had 6,500 units of work in process on April 1. During April, 19,100 units were completed and as of April 30, 5,100 units remained in production. How many units were started during April?
One year from the issue date (July 1, 2012), the corporation exercised its call privilege and retired the bonds for $395,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs.
Prepare a partial income statement through gross profit under the average, FIFO and LIFO methods. Round average cost per unit to four decimal places and all other amounts to the nearest whole dollar.
joan corp sold office equipment on january 12009 for a cash price of 430000. the equipment had a cost of 500000 and
first simple bank pays 4 percent simple interest on its investment accounts. if first complex bank pays interest on its
Calculate the molarity of the tartaric acid solution
Dobbs Wholesale Antiques makes all sales under terms of FOB shipping point. The company usually receives orders for sales approximately one week before shipping inventory to customers.
the december 2013 sales were 180000. the companys budgeted unit sales are as
Determine the amount of interest to be capitalized in 2010 in relation to the construction of the building.
if the beginning inventory is understated by 1300 and ending inventory is understated by 700 what would be impact on
The balance in the unearned fees account, before adjustment at the end of the year, is $112,000. Of these fees, $71,600 have been earned. In addition, $47,400 of fees have been earned but have not been billed.
Seton Company manufactures a single product that sells for $360 per unit and whose total variable cost are $270 per unit. The company's annual fixed costs are $1,125,000. (1) Use this info to compute the company's (a) contribution margin, (b)contribu..
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