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On December 1, 2010, Money Co. gave Home Co. a $200,000, 11% loan. Money paid proceeds of $194,000 after the deduction of a $6,000 nonrefundable loan origination fee. Principal and interest are due in sixty monthly installments of $4,310, beginning January 1, 2011. The repayments yield an effective interest rate of 11% at a present value of $200,000 and 12.4% at a present value of $194,000. What amount of income from this loan should Money report in its 2010 income statement?
Bed & Bath, a retailing company, has two departments, Hardware and Linens. The company’s most recent monthly contribution format income statement follows: If the Linens Department is dropped, what will be the effect on the net operating income of th..
Assuming that current borrowing rates are 6%, compare the income statement and balance sheet effect of the two alternatives assuming (a) a nonbankruptcy approach and (b) a bank- ruptcy approach.
On December 28, 2012 Piedmont Supply Co. ships $155,000 of merchandise by common carrier to the Maxwell Company. The terms of the sale are 3/15, n/45, FOB destination. It takes 5 days for the merchandise to arrive at Maxwell Company. Both Piedmont Su..
DC Construction has two divisions: Remodeling and New Home Construction.
Determine whether such costs should appear as charges in the income statement for the current period.
What are the factors you should consider in making this decision if your household income is $6,000, and your monthly expenses of $2, 500.
Prepare the operating activities section of the Statement of Cash Flows for Learning, Inc. for the year ended December 31, 2007.
Compute the unit variable cost for a helmet - evaluatethe unit variable cost with the given data.
Cardco Inc. has an annual accounting period that ends on December 31. During the current year a depreciable asset that cost $43,500 was purchased on September 2. The asset has a $4,300 estimated salvage value. The company uses straight-line depreciat..
Compute the variable cost per unit and the contribution margin ratio for 2010 and compute the increase in fixed costs for 2011.
Analyzing financial statement effects of bond redemption. Dechow, inc. , issued $225,000 of 8%, 15-year bonds at 96 on july 1, 2009. interest is payable semiannually on december 31 and june 30.Through june 30, 2014, Dechow amortized $3000 of the bond..
Down Under Boomerang, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $2.76 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which it wil..
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