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Slow-selling new 91/4% bonds were tossed onto the resale market at a reduced price with about $70 million still available from the $200 million offered Thursday, dealers said.
The Chicago utility's bonds, rated double-A by Moody's and double-A-minus by Standard & Poor's, originally had been priced at 99.803, to yield 9.3% in 5 years. They were marked down yesterday the equivalent of about $5.50 for each $1,000 face amount, to about 99.25, where their yield jumped to 9.45%.
Instructions:
(a) How will the development above affect the accounting for Commonwealth Edison's bond issue?
(b) Provide several possible explanations for the markdown and the slow sale of Commonwealth Edison's bonds.
What role(s) does corporate social responsibility play in the development of a safety-first culture? What documents and strategies can management adopt to ensure that a corporate safety-first culture exists?
Banks are not the only financial intermediary from which corporations can obtain financing. What are the other intermediaries? How much financing do they supply, relative to banks, in the United Kingdom, Germany, and Japan?
Darron Co. was formed on January 1, 2011 as a wholly owned foreign subsidiary of a U.S. corporation. Darron's functional currency was the stickle (§). The following transactions and events occurred during 2011:
Indicate increase (+), decrease (-), or no effect (NE). Make sure your answer is CLEAR in terms of all items below (1-13) and that you make an entry for EACH column (Net Income, Cash From Operations, and Cash Position).
orm Fish makes cheap fishing rods and operates in a competitive market. The company has a fixed cost of $20,000 per period. In addition the firm incurs production or variable costs depending on its output as follows:
Thelma's reported net income for 2006 was $119,000. What is the noncontrolling interest's share of Thelma's net income?
In your role as the financial manager, you routinely review your firm's financial statements and financial ratios to evaluate the financial health of your company.
Neffer Services Inc. leases access to high-speed computers to small businesses. It provides the following information for the year.
Kim owns 100% of the stock of Cardinal Corporation. In the current year Kim transfers an installment obligation, tax basis of $30,000 and fair market value of $200,000, for additional stock in Cardinal worth $200,000.
List and describe four potential problems with a "traditional" overhead allocation system. List and describe four "red flags" that may indicate you should consider revising your overhead allocation system.
When a parent uses the equity method throughout the year to account for investment in a subsidiary, which of the following statements is false?
In the case of a privately held company, what should be the focus of management, to meet all the reporting guidelines set by the FASB ASC, or to maximize the profits of the company?
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