Reference no: EM132636455
Questions -
Q1) A Company issues a $100,000, four-month note payable to B Bank on March 1. Assume that it is a zero-interest-bearing note and the bank's discount rate is 12%.
a. What is the present value of the notes?
b. What is the journal entry A Company has to record on March 1?
Q2) A Company purchases merchandise for $150,000 plus GST of 5% ($7,500). The goods are later sold for $210,000 plus GST of 5% ($10,500).
a. What is the journal entry for the purchase transaction?
b. What is the journal entry for the sales transaction?
Q3) A Company issues $100,000 in bonds that are due in five years and pay 9% interest annually at year end. At the time of issue, the market rate for such bonds is 11%. What is the journal entry A Company should record at the issuance of the bond? Assume the bond was issued on the interest payment date.
Q4) What are different methods for amortizing bond premiums and discounts?
Q5) Explain 'cumulative' feature of preferred shares
Q6) If 500 shares are then issued for cash at $10 per share, what would the entry look like?
Q7) On June 10, Company A. declared a cash dividend of 50 cents a share on 1.8 million shares payable on July 16 to all shareholders of record on June 24. Prepare the journal entries to record on June 10, June 16, and June 24.
Q8) Company A had net income of $360,000, declared and paid preferred dividends of $54,000, and had average common shareholders' equity of $2,550,000. What is the rate of return?
Q9) What are 2 components of option premium?
Q10) What is the biggest difference between forward contracts and future contracts?
Q11) Company A offers three-year, 6% convertible bonds (par $1,000). Each $1,000 bond may be converted into 250 common shares, which are currently trading at $3 per share. Similar straight bonds carry an interest rate of 9%. One thousand bonds are issued at par. What is the required journal entry for the issuance of this convertible debt under IFRS?
|
Identify a substantive auditing procedure
: Identify a substantive auditing procedure that could detect errors or frauds that could result from the absence or ineffectiveness of the control items
|
|
Starbucks case analysis
: Starbucks Case Analysis and Application of Strategy Models - Select any case from the following aspects of competitive strategy and apply the theories
|
|
Prepare the journal entry to record the redemption
: The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2020, Prepare the journal entry to record the redemption
|
|
How components of corporate social responsibility reporting
: Evaluate how the components of corporate social responsibility reporting (i.e, social reporting and environmental reporting) of the XERO LIMITED
|
|
What is the required journal entry for the issuance
: One thousand bonds are issued at par. What is the required journal entry for the issuance of this convertible debt under IFRS
|
|
Calculate Net Operating Working Capital
: Using the Dupont Model, calculated each component (profit margin, total asset turnover and equity multiplier as well as the return on equity for XYZ Company
|
|
How much FEDERAL tax will Jill pay on the CAPITAL GAIN
: Jill reports $55,000 of income from employment. How much FEDERAL tax will Jill pay on the CAPITAL GAIN from selling the Acorn shares
|
|
Performance-reliability and security
: We studied the network criteria: performance, Reliability, and security.
|
|
Find the cost that should be assigned to Alpha
: Material costs for the month of October were $27,000 and conversion costs were $46,800. Find the cost that should be assigned to Alpha
|