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Suppose that the financial Management Corporation's $1,000 par-value bond had a 5.700% coupon, matured on May 15, 2017, had a current price quote of 97.708, and had a yield to maturity (YTM) of 6.034%.
Given this information, answer the following questions.
a) What was the dollar price of the bond?
b) What is the bond's current yield?
c) Is the bond selling at par, at a discount, or premium? Why?
d) Compare the bonds current yield calculated in part b to it's YTM and explain why they differ.
At the time Fisher Corporation became a subsidiary of Ashbury Corporation, Fisher switched depreciation of its plant assets from the straight-line method to the sum-of-the-years'-digits method used by Ashbury.
If the accounts receivable balance at December 31 was $350,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2012?
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What are the fixed efficiency and the fixed production volume variances, respectively, using 4-variance analysis? A. no efficiency variance,
Smelling Company declared a 2-for-1 stock split on its common stock in order to intentionally reduce the market value of its stock so that it would be an attractive investment for a larger set of investors.
On October 1, 2010, Mann Company places a new asset into service. The cost of the asset is $40,000 with an estimated 5-year life and $10,000 salvage value at the end of its useful life. What is the depreciation expense for 2010 if Mann Company use..
In 30 years, what will your company's repayment be if you issue the coupon bonds? What if you issue the zeroes?
The following selected transactions relate to certain securities acquired by wildflower Blueprints Inc. Journalize the entries to record the foregoing transactions.
What are the advantages and disadvantages of using automated accounting systems to do adjusting entries?
The corporation makes annual payments to the trustee, who invests the proceeds in securities (frequently government bonds) and uses the accumulated total to retire the bond issue at maturity.
Kate Greenway Corporation, having recently issued a $20 million, 15-year bond issue, is committed to make annual sinking fund deposits of $620,000. The deposits are made on the last day of each year and yield a return of 10%. Will the fund at the ..
Justin and Tiffany form the equal TJ Partnership, Justin contributes cash of $20,000 and land (fair market value of $80,000, adjusted basis of $65,000), and Tiffany contributes the assets of her sole proprietorship (value of $100,000, adjusted bas..
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