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Bond issue price and premium amortization. On January 1,2015, Piper Co. issued ten-year bonds with a face value of $3,000,000 and a stated interest rate of 10%, payable semiannually of June 30 and December 31. The bonds were sold to yield 12%. Table values are: Present value of 1 for 10 periods at 10% .386 Present value of 1 for 10 periods at 12% .322 Present value of 1 for 20 periods at 5% .377 Present value of 1 for 20 periods at 6% .312 Present value of annuity for 10 periods at 10% 6.145 Present value of annuity for 10 periods at 12% 5.650 Present value of annuity for 20 periods at 5% 12.462 Present value of annuity for 20 periods at 6% 11.470 (A) Calculate the issue price of the bonds? (B) Without prejudice to your solution in part (A), assume that the issue price was $2,652,000. Prepare the amortization table for 2015, assuming that amortization is recorded on interest payment dates using the effective-interest method?
greneer company had checks outstanding totaling 10800 on its june bank reconciliation. in july greneer company issued
design flooring carpet company manufactures carpets.fiber is placed in process in the spinning department where it is
randolph smithfield is a cost analyst with franklin insurance company. franklin is applying standards to its claims
in 2011 a company changed from the lifo method of accounting for inventory to fifo. the companys 2010 and 2011
hardly a day goes by without an article appearing on the crises affecting many of our financial institutions in the
which of the following is an example of achange in accounting principle?1a change indepreciation methods.2a change in
Contribution margin to sales ratio is 84% for the ABC Co. and the breakeven point in sales is Rs. 150,000. The company desires a target net income of Rs. 42,000.
The words debit and credit are used in two ways in accounting: ''e.g., to debit an account'' and ''a debit balance.'' Explain both usages of the terms debit and credit.
you purchase a commercial building and lot for 450000 on september 2nd 2012. the lot is estimated to be worth 80000
One defect of the IRR method is that it assumes that the cash flows to be received from a project can be reinvested at the IRR itself, and that assumption is often not valid. Why do you think this is a correct statement?
alfred e. old and beulah a. crane each age 42 married on september 7 2011. alfred and beulah will file a joint return
Haywood Company sells a single product with a contribution margin of $5 per unit, fixed costs of $74,400, and sales for the current year of $100,000. What is the break-even point?
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