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Describe the two major obligations incurred by a company when bonds are issued.
Magda and Helga are discussing how the market price of a bond is determined. Magda believes that the market price of a bond is solely a function of the amount of the principal payment at the end of the term of a bond. Is she right? Discuss.
A student asks your help in understanding some characteristics of a corporation. Explain each of these.
Corporation allows the issuance of a maximum of 100,000 shares of common stock. During its first 2 years of operation, Clio sold 60,000 shares to shareholders and reacquired 4,000 of these shares. After these transactions, how many shares are authorized, issued, and outstanding?
Mr. Rosen is the manager of a division of Jokkmok Industries. He is one of several managers being considered for the position of CEO, as the current CEO is retiring in a year.
Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual method of accounting but he doesn't keep any significant inventories of the specialized assets that he sells.
The present value of $100,000 to be received in five years at an interest rate of 16% compounded annually, is $47,610. Calculate the present value of $100,000 for each of the following:
Cisco Systems, Inc., is the world's leading supplier of internetworking solutions targeted at corporate enterprise intranets and the internet. Using the instructions below, access Ciscos 2011 Annual Report.
Obtain a detailed report which is based on an intensive investigation of the financial position of sales department, production department and research and development department.
Describe two business sectors you might want to work in if you were an accountant and explain why in 150 to 200 words.
Treasury Stock Transaction-Nature corporation engaged in the folloiwing treasury transactions during current year. Complete three journal entries to record these treasury stock transactions.
Since the Sarbanes-Oxley Act of 2002, fraud from lack of internal controls has gone down. At the same time, collusion between employees and among third parties has increased.
A lawyer allocates overhead costs based on his hours working with different clients. The lawyer expects to have $200,000 in overhead during the year and expects to work on clients' cases for 2,000 hours during the year.
Generally accepted accounting principles (GAAP) require loss contingencies to be accrued in the period the contingency becomes known. However, GAAP specifically disallows booking gain contingencies until the gain is realized.
On May 10, 2007, Wiley, Inc remitted $91,450 to the state tax division for April 2007 sales. Calculate the amount of Wiley's April 2007 sales subject to sales tax, and, record the journal entry that would be made when the tax is paid:
Which of the following is an example of a variable cost?
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