During 2008 bonzi refinanced its long term debt it spent

Assignment Help Accounting Basics
Reference no: EM13601058

During 2008 Bonzi refinanced its long term debt. It spent $160,000 to retire long term debt in two years and issued a $200,000 of 15 year bonds at par. It then bought and retired common shares for cash of $35,000. Interest expense for 2008 was $23,000, of which it paid $21,000 in cash; the other $2000 was still payable at the end of the year. Dividends declared and paid during the year were $11,000.
Prepare a statement of cash flows from financing activities.

Financial accounting - Investing activities :Mercedes issued common stock for $320,000 on the first day of 2005. It bought fixed-assets for $160,000 and inventory for $65,000. Late in the year, it sold fixed assets for their book value of $ 20,000. It sold one-half the inventory for $55,000 during the year. On December 15, the company used excess cash of $60,000 to purchase common stock of BMW company which Mercedes regarded as a long-term investment.Prepare a statement of cash flows from investing activities for mercedes.

Reference no: EM13601058

Questions Cloud

Can anyone explain me what effects gross profit and cost : can anyone explain me what effects gross profit and cost of goods sold and why is this number so important. how it is
A controversy has developed between the partners of the two : rice and conwell is a public accounting firm that offers two primary services auditing and tax return preparation. a
A company purchased merchandise inventory at a cost of 4300 : a company purchased merchandise inventory at a cost of 4300 with credit terms 315 net 45. if the company elects to pay
Andretti company has a single product called a dak the : andretti company has a single product called a dak. the company normally produces and sells 78000 daks each year at a
During 2008 bonzi refinanced its long term debt it spent : during 2008 bonzi refinanced its long term debt. it spent 160000 to retire long term debt in two years and issued a
Which one of the following terms is best defined as the : lisa informed misty she would buy her a new wardrobe for her upcoming 15th birthday. essentially lisa and misty have
How to calculate the maturity risk premium for a 2 year : how to calculate the maturity risk premium for a 2 year security where the real risk free rate is 3 and inflation is 3
Under what circumstances might a consolidated gain be : under what circumstances might a consolidated gain be recognized on the sale of assets to a nonaffiliate when the
Windy corporation which uses the allowance method has : windy corporation which uses the allowance method has accounts receivable of 50.800 and an allowance for uncollectible

Reviews

Write a Review

Accounting Basics Questions & Answers

  Partner morse creditors

What is the minimum that partner Morse's creditors would receive if they have filed a claim for $50,000?

  Jane goodall is preparing for a meeting with her banker her

jane goodall is preparing for a meeting with her banker. her business is finishing its fourth year of operations. in

  Tvm consulting bought new building for its headquarters in

tvm consulting bought new building for its headquarters in the year 2000. the purchase cost was 723198 dollars and in

  Amount of the adjustment for doubtful accounts

At the end of the current year, the accounts receivable account has a balance of $650,000, and net sales for the year total $5,500,000. Estimate the amount of the adjustment for doubtful accounts under each of  following assumptions:

  Lesley chomski is the supervisor of the new product

lesley chomski is the supervisor of the new product division of mco corporation. her annual bonus is based on the

  Perdue company purchased equipment on april 1 2012 for

perdue company purchased equipment on april 1 2012 for 270000. the equipment was expected to have a useful life of

  Discuss with your classmates how to determine the amount

you are the senior accountant responsible for recording accrued liabilities at the end of the companys fiscal year.

  On the basis of your knowledge of costing systems

on the basis of your knowledge of costing systems described which other methodss might the company consider to measure

  Compare and contrast the while loop and the for loopyour

compare and contrast the while loop and the for loop.your discussion should identify the similarities differences

  Calculating debt to equity ratio

When calculating debt to equity ratio: A) Convertible bonds should be treated as debt B) Convertible bonds should be excluded from debt but not included in equity

  Prepare the interest payment schedule of the note for

on december 31 2012 the american bank enters into a debt restructuring agreement with barkley company which is now

  Write a journal entry to show the effect of the sale of the

the oklahoma a amp m aggies sell season tickets for four home football games at a price of 15. for the 2012 season 5000

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd