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On December 31, 2012, Moss Co. Issued $1,000,000 of 11% bonds at 109. Each $1,000 bond was issued with 50 detachable stock warrants, each of which entitled the bondholder to purchase one share of $5 par common stock for $25. Immediately after issuance, the market value of each warrant was $4. On December 31, 2012, what amount should Moss record as discount or premium on issuance of bonds?
Genesis Corporation is now in its 30th year of business. The founder of company is planning to retire at the end of year and turn the business over to his daughter.
Countess Aether, now a California resident, owns a 60% interest in the Gore General Partnership which only does business in California.
Suppose your credit card issuer states that it charges a 8.50% nominal annual rate, but you must make monthly payments, which amounts to monthly compounding. What is the effective annual rate?
Brave Industries is considering buying a machine for $180,000 with an estimated life of ten years and no salvage value. The straight-line method of depreciation will be used. The machine is expected to generate net income of $12,000 each year. The..
The present value of a $1,200,000 note payable in three equal annual installments of $400,000 at a 10% rate of interest is $994,800. What is the amount of interest income that should be recognized by Jacobs in 2010, using the effective-interest me..
The remainder is uncollectible. The following are budgeted sales data: January $60,000-February $70,000-March 50,000-April 30,000 - What would April's total cash receipts be ??
Bond Valuation. A tax- exempt bond was recently issued at an annual 7 percent coupon rate and matures 30 years from today. The par value of the bond is $5,000.
Days of Our Lives Hospital has total variable costs of 90% of total revenues and fixed costs of $50 million per year. There are 50,000 patient-days estimated for next year. What is the break-even point expressed in total revenue?
Record the 2011 entries for the purchase of the machine and the lease on the books of Grande machinery and for Sunshine Engineering.
Albert transfers land (basis of $140,000 and fair market value of $320,000) to Gold Corporation for 80% of its stock and a note payable in the amount of $80,000. Gold assumes Albert's mortgage on the land of $200,000.
Determine the annual net cost of these checking accounts: a. Monthly fee $5, check-processing fee of 25 cents, average of 19 checks written per month.
Identify the components of internal control to which each policy or procedure relates. For each item, identify one other policy or procedure for that internal control component that is not on the preceding list.
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