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George Hincapie Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company’s bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $3,226,000 of 12% term corporate bonds on March 1, 2014, due on March 1, 2029, with interest payable each March 1 and September 1. At the time of issuance, the market interest rate for similar financial instruments is 10%. (Use the tables below.)
As the controller of the company, determine the selling price of the bonds. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
Selling price of the bonds $
At the beginning of 2014, Robotics Inc. acquired a manufacturing facility for $12 million. $9 million of the purchase price was allocated to the building. What is depreciation on the building for 2016? (Enter your answer in whole dollars)
A business generates profits of $150,000. The owner currently has a 28% MTR. What is the total amount of taxes paid if the business is a regular corporation and $20,000 in dividends is distributed to its sold individual shareholder?( The dividend tax..
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities - Statement of cash flows-indirect method
A 10 year bond issued today by Carris, Inc. has a coupon rate of 10%, a required return of 6% and a face value of $1,000. The bond will be sold 5 years from now when interest rates will be 8%. What is the actual rate of return (or holding period retu..
Below is a payroll sheet for Mahogany Company for the month of July. The company is allowed a 1% unemployment compensation rate by the state; the federal unemployment tax rate is 0.8% and the maximum for both is $7,000. Complete the payroll sheet and..
Pay rate is 19.70 per hour with an overtime rate of 1.5 times for hours over 40 in a workweek. He worked 44 hours. Calculate using the premium approach. Since the company holds back a week, what adjusting entry would they have to make in order to rec..
After the copper is extracted in approximately six years, Schefter is obligated to restore the land to its original condition, including constructing a park. The company’s controller has provided the following three cash flow possibilities for the re..
address in a conceptual manner how the deduction, assuming it is available, is calculated. At a minimum you should consult the following sources.
Explain what is meant by the LIFO reserve account. How does LIFO subtract inflation from inventory costs? Explain how the cash flow of $174,400 in this example was computed. Explain why this amount may not be correct.
Dapper Corporation had only one job in process on May 1. The job had been charged with $1,030 of direct materials, $3,760 of direct labor, and $6,350 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined ov..
Determine Actual warranty costs
The unadjusted trial balance of Blanton Department Store at December 31, 2017 is below. Prepare all the journal entries necessary to record the transactions noted above as they occurred and any necessary adjusting journal entries at December 31. Ensu..
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