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On January 1, 2005, Smith Graphics, Inc., a product-labeling and graphics firm, borrowed $300,000 cash from First BancCorp and issued a five-year, 8% promissory note. The note requires annual interest payments each December 31.
A. Prepare Skill Graphic's journal entries to record (1) the issuance of the note and (2) the December 31 interest payment.
B. How does the note affect Skill Graphic's financial statements? What type of disclosure is required?
C. Why is it advantageous for the company to issue long-term notes versus issuing shares of stock?
Research and find financial statements for two companies of your choosing. Drawing on information from this course (managerial accounting), write an essay summarizing which of the two is a better investment.
On February 28, 2006, Pujols Industries issued 10% bonds, dated January 1, with a face amount of $48 million. The bonds were priced at $42 million (plus accrued interest) to yield is 12%.
Discuss the terms listed below. Explain why these concepts are important to financial statements.
What is the estimated multiple linear regression equation - calculate the F statistic and should the Null hypothesis be rejected at the 5% level of significance?
A company normally orders the EOQ of 120 units and the reorder point is 30 units. However, due to changing conditions, it has become necessary for the company to carry safety stock to prevent stock outs. Which of the following should occur?
Zimmerman's Bank is the only bank in the small town of St. Thomas. On a typical Friday, an average of 10 customers per hour arrive at the bank to the transact business.
The following data summarize the operating performance of your company's wholly owned Canadian subsidiary for 2009 to 2011. The cost of capital for this subsidiary is 10 percent.
Kevin wants a return of 50% from his one-year investment in real estate. He believes that he can sell the property at the end of the year for $250,000 and that the property will provide him with income of $50,000.
The index of leading economic indicators, compiled and published by the U.S. National Bureau of Economic Research, is composed of 12 time series, such as the average work hours of production in manufacturing, manufacturers
A small publishing company is planning to publish a new book. The production costs will include onetime fixed costs (such as editing) and variable costs [such as printing).
ZXC Firm has the following information to determine Predetermine overhead rate for Standard Costing:
The Efficient Markets Hypothesis holds that markets do not react to news or announcements because by the time the information is disseminated, it has already been anticipated.
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