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In order to finance a shipment of badminton sets, Rujisawa Import-Export is seeking a $500,000 one-year bank loan. The Marine Bank requires that Rujisawa maintain a 20% compensating balance and requires four quarterly payments. The Lincoln Bank requires only a 10% compensating balance, but requires 12 monthly payments. In addition, Lincoln discounts the loan. Both banks state that their interest rate is 9%.
a) Which bank has the lowest effective interest rate?
b) If Lincoln Bank eliminated its compensating-balance requirement, would your answer change?
Prepare Dold's journal entries for the initial transaction, recognition of interest each year, and the collection of $35,843 at maturity. (Round answers to 0 decimal places, e.g. $6,538. Credit account titles are automatically indented when the am..
Rockhampton, Inc. app|ies factory overhead ba$ed on direct lab0r c0sts. The company 1ncurred the following costs during 2O11: direct materials costs, $650000.
The Acme Company has an $8,000,000 balance in accounts receivable. Their CPA believes that there are very few misstatements. Which of the following would the CPA use to audit the account?
Sigfried Company borrows $60,000 on July 1 from the bank by signing a $60,000, 10%, one-year note payable. Prepare the journal entry to record the proceeds of the note.
Assuming a 30-day period in November, calculate November's interest. Also, calculate the interest Nancy would have paid with: a) the previous balance method, b) the adjusted balance method.
Aspen Co. expects to maintain the same inventories at the end of 2008 as at the beginnign of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various depart..
Determine the earnings per share of common stock under the two alternative financing plans, assuming income before bond interest and income tax is $1,000,000. Round answers to 2 decimal places if required.
Exhibit 4 provides certain ratios for the Company's competitors. Calculate the same ratios for the Company but do so for the years 2007, 2008 and 2009. (You should prepare a table). Explain what each of the ratios implies about the Company.
The bonds are dated January 1, 2006, and mature on January 1, 2010. The total interest expense related to these bonds for the year ended December 31, 2006 is ??
What is the amount of the lessee's liability to the lessor after the December 31, 2012 payment? (Rounded to the nearest dollar.)
Examine duplicate copy of shipping documents for evidence that quantities were verified before shipment.
How are bond ratings determined?
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