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Parent owns 75% of Sub. On the open market parent buy all bonds of the Sub for $900,000. The par value of these bonds on ledger for Sub is $800,000. Interest is paid annually at 7%. On the books of the Sub there is an unamortized discount of $60,000. The tax rate is 35%
Question 1: What would be the pre-tax gain or loss to the consolidated entity on the intercompany sale of the bonds?
On January 1, 2016, Baddour, Inc., issued 12% bonds with a face amount of $167 million. The bonds were priced at $146.3 million to yield 14%. Interest is paid semiannually on June 30 and December 31. Baddour’s fiscal year ends September 30. What amou..
On average other building companies pay about one quater of thier earnings in dividends, earn about 6 cents on the sales dollar, carry assets worth about 6 months of sales, and finance one third of thier assets with debt. use the sustainable growth r..
Can a company have a "negative" financing period? Why is a physical inventory needed under both the periodic and perpetual inventory systems?
What are the income or loss shares of the annual partners if the partnership income is $87,000 - Distribution of Income or loss to partners
Prepare the journal entries necessary to bring the company's book balance of cash into conformity with the reconciled cash balance as of July 31. 2005.
What are the ethical considerations in making subjective valuations of complex and exotic investments and such funds help assure investors that there will be adequate cash to pay the bonds at their maturity date.
During 2015, Jeff Smallwood worked for two different employers. Until May, he worked for Rowland Construction Company in Ames, Iowa, and earned $22,000.
Magnolia is a multinational Australian company,Identify the functional currency of Magnolia Ltd. What would be the presentation currency of Magnolia Ltd?
Lupe, a cash basis taxpayer, owns 55% of the stock of Jasper Corporation, a calendar year accrual basis C Corporation. - Determine Cherry Corporation's deduction for organizational expenditures for 2015.
The following bond investment transactions were completed during 2014 by starks company: Jan 31: purchased 75, $1,000 government bonds at 100 plus 30 days' accrued interest. The bonds pay 6% annual interest on July 1 and January 1.
Day Inc. has 4,363 shares of 7%, $100 par value, cumulative preferred stock and 80,023 shares of $1 par value common stock outstanding at December 31, 2014. What is the annual dividend on the preferred stock?
Basic transaction processing. On November 1 of the current year, Richard Simmons established a sole proprietorship. The following transactions occurred during the month: Record each transaction on a separate line. After all transactions have been rec..
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