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Problem 1: Which of the following is a disadvantage to shareholders of using long-term debt rather than equity?
Select one:
a. Interest payments must be made on time regardless of a reduction in profitability.b. Lenders do not have voting rights.c. Lenders do not share in excess profits.d. Interest is tax deductible.
Problem 2: The partnership agreement between Allen and Barry states that profit and loss sharing arrangements will be based on the ratio of the partner's capital balances. Allen and Barry have capital balances of $90 000 and $60 000 respectively at the end of the accounting perioD. If profit for the period is $48 000, the profit allocations of each of the partners is:
a. Allen $28 800; Barry $19 200.b. Allen $30 000; Barry $18 000.c. Allen $24 000; Barry $24 000.d. unable to be calculated from the information provided.
Plans to maintain its present debt ratio to 0.25. If earnings are expected to be $5.50 per share. How much external equity must Bowery raise?
On January 1, 2016 for $18 million, Marker company issued 10% bonds, Prepare the journal entry to record interest on December
On January 2, 2018, Bengro called all of the bonds and redeemed them. Prepare the journal entry to record the extinguishment of the bonds payable
If a company has low Detection Risk in its overall financial reporting or in a particular account? Often it will have high Inherent Risk and high Control Risk.
a company had common stock with a total par value of 18000000 and fair value of 62000000 and 7 preferred stock with a
Actual costs incurred for January 2014 are indirect labor $13,570; indirect materials $13,770; Prepare a responsibility report for January 2014
in activity-based costing a separate activity rate i.e. predetermined overhead rate is computed for each activity cost
Impairment for non-financial assets - Determine the amount of the impairment loss that needs to be recognized by December 31, 2021
For each of the itineraries, calculate the present values of the cash flows using required rates of return of both 10 and 15 percent
1.as part of the initial investment a partner contributes equipment that had a cost of 50000 and accumulated
Why auditors use sampling in their work? What is Attribute Sampling? Discuss its salient features and where it is used using a suitable example
Complete the operating activities section of the statement of cash flows for 2007. Use the indirect method.
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