Reference no: EM132774960
Questions -
Q1. A company has a five-year, $100,000 note payable on which it has been making annual interest payments of $6,000. This is the final year of the note, and the company has made a $106,000 payment to pay this year's interest as well as to repay the note itself. What is needed in the journal entry to record this $106,000 cash payment?
A. Credit to note payable for $100,000
B. Debit to note payable for $100,000
C. Credit to interest expense for $6,000
D. Debit to interest expense for $106,000
Q2. A company has issued 200,000 new shares to shareholders in exchange for $4,000,000 cash. The shares are $1 par common shares. What is needed in the journal entry to record this issuance of shares?
A. Credit to paid in capital in excess of par for $3,800,000
B. Credit to common stock, $1 par for $4,000,000
C. Debit to common stock, $1 par for $200,000
D. Debit to paid in capital in excess of par for $4,000,000
|
What is the WACC for the company
: Common stock: 2,400,000 shares of common stock; the current price is $64, and the beta of the stock is 1.45. What is the WACC for the company
|
|
What is the impact of this error on the financial statements
: The accountant for the company mistakenly input a $1,000 rental payment on the building as $100 in the accounting records. What is the impact of this error
|
|
What is the net cash flow from operating activities
: Statement of Cash Flows Ann's Flowers Inc. reported 2008 net income of $2.20 million, depreciation of $262,000. What is net cash flow from operating activities
|
|
Prepare an Income Statement for the year ended December
: Depreciate motor vehicle at 10% per annum using straight line method. Prepare an Income Statement for the year ended December
|
|
What is needed in the journal entry to record this issuance
: A company has issued 200,000 new shares to shareholders in exchange for $4,000,000 cash. What is needed in the journal entry to record this issuance
|
|
Which debit or credit would appear in the closing entries
: Sales revenue: $10,000 and Retained earnings (beginning): $1,000. Which debit or credit would appear in the closing entries for the year
|
|
For what number of hours will two electricians charge same
: Electrician A is offering his services for an initial fee of $125 in addition to $45 per hour. For what number of hours will two electricians charge same
|
|
What is the value of the cash coverage ratio
: The times interest earned ratio is 4.1, and the depreciation expense is $126,200. What is the value of the cash coverage ratio
|
|
Calculate the two prices Division W would have to quote
: Calculate the two prices Division W would have to quote to Division B, if it became AWB Ltd. policy to quote transfer prices based on opportunity costs
|