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Stech Co. is issuing $6.5 million 12% bonds in a private placement on July 1, 2012. Each $1,000 bond pays interest semi-annually on December 31 and June 30 of each year. The bonds mature in ten years. At the time of issuance, the market interest rate for similar types of bonds was 8%. What is the expected selling price of the bonds?
Calculate the total dollar amount of discount or premium amortization during the first year (5/1/10 through 4/30/11) these bonds were outstanding. (Show computations and round to the nearest dollar.)
Knique Shoes issued a 100,000, 8 month, noninterest-bearing note. The loan was made by Second Commercial Bank whose stated discount rate is 9%. The effective interest rate on this loan (rounded) is:
The average stockholders' equity was $680,000. What is Thomas Company's return on equity (ROE)?
Standlar Company makes wireless speakers. The standard model price is $360 and variable expenses are $210. The deluxe model price is $500 and variable expenses are $300.
Compute the largest tax deduction possible in 2010 for the equipment (consider the Section 179 election, Bonus Depreciation, and MACRS):
Yates Corporation began operations on January 2, 2010. It employs 15 people who work 8-hour days. Each employee earns 10 paid vacation days annually. Please prepare journal entries to record the transactions related to paid vacation days during 201..
Several years ago the Haverford Company sold $1,000 par value bond that now has 25 years to maturity and an 8.00% annual coupon that is paid quarterly.
Comparison of projects, no income taxes. (CMA, adapted) New Bio Corporation is a rapidly growing biotech company that has a required rate of return of 10%. It plans to build a new facility in Santa Clara County.
One function of the AIS (accounting information system)is to provide adequate controls to ensure the safety of orgnizational assets, including data. Many people, however, often view control procedures as "red tape." Discuss how controls can improv..
What are Lily's taxable income and tax liability for the year?
At the date of transfer the land and equipment had fair values of $72,000 and $65,000, respectively. Gleason had been depreciating the equipment on a straight-line basis over ten years with no salvage value.
Orbit Airways purchased a baggage-handling truck for $41,000. Suppose Orbit sold the truck on December 31, 2008, for $28,000 cash, after using the truck for two full years and accumulating a depreciation of $16,000.
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