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Micro spinoffs,Inc issued an 20-year-old debt a year ago at par value with a coupon rate of 8 percent, paid annually. Today, the debt is selling at $1050. If the firm is tax bracket is 35 percent, what is its after-tax cost of debt?
An auditor noted that client sales increased 10 percent for the year. At the same time, Cost of Goods Sold as a percentage of sales had decreased from 45 percent to 40 percent and year-end accounts receivable.
After using the concession stand for 4 years, Six Flags determines that the building will remain useful for only 2 more years. Record Six Flags' depreciation on the concession stand for year 5 by the straight line method.
Assume that Polar sold inventory to Icecap at a markup equal to 40% of cost. Intercompany transfers were $126,000 in 2008 and $154,000 in 2009. Of this inventory, $39,200 of the 2008 transfers were retained and then sold by Icecap in 2009 while $5..
a. Which company has the higher profit margin? b. Which company has the higher investment turnover? c. Based solely on the data given, in which firm would you prefer to invest
Do you agree with the legal principle of "Innkeepers Strict Liability" rule in relation to lost or stolen property?
Assess how a company's accounting and financial reporting is likely to be impacted by the work being done by the EITF on this issue.
which is the rate users pay to providers. For debt, we call this price the interest rate. For equity, we call this price the cost of equity. Discuss the four most fundamental factors affecting the cost of money.
Shelly offers to sell Jane goods both parties know are stolen. Jane accepts the offer, and agrees to pay for the goods. Later, Jane refuses to accept or pay for the goods. If Shelly sues Jane for breach of contract, what is the probable result?
The bonds are dated January 1, 2007, and mature on January 1, 2017. Interest is payable semiannually on January 1 and July 1. Cain paid bond issue costs of $10,000. Cain should realize net cash receipts from the bond issuance of
jesus and mindy whose modified AGI is 200,000 adopted a girl from Miami florida and incurred a total of 18,000 in qualified adoption expenses what is the amount of adoption credit they can claim?
agency funds report assets and liabilities, but not net assets, revenues, or expenses. Briefly explain why this is so. For example, why would an agency fund not have revenue? Why would it not have expenses?
On January 1, 2011, Tonge Industries had outstanding 450,000 common shares (par $1) that originally sold for $20 per share, and 4,000 shares of 10% cumulative preferred stock (par $100), convertible into 40,000 common shares.
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