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Computation of Bond Liability
Messier 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 $3,000,000 of 11% term corporate bonds on March 1, 2012, due on March 1, 2027, with interest payable each March 1 and September 1. At the time of issuance, the market interest rate for similar financial instruments is 10%.
As the controller of the company, determine the selling price of the bonds. (Round answer to zero decimal places, e.g. 12,520. Hint: Use tables in text.)
In the case of a privately held company, what should be the focus of management, to meet all the reporting guidelines set by the FASB ASC, or to maximize the profits of the company?
During the year, Xero, Inc., experienced increase in net fixed assets of $300,000 and had depreciation of $200,000. If operating cash flow (OCF) for the year was $700,000, compute firm's free cash flow (FCF) for the year.
The MedView brochure said, "Only 45 scans per month to cover the monthly equipment rental of $18000." *The footnote at the bottom of the brochure read: *"Assumes a reimbursable fee of $475 per scan."
What is the FASB Codification System and what is its purpose? What are the nine content areas located in the FASB Codification System? What types of items are located under each content area?
Phillips Company bought 40 percent ownership in Jones Bag Company on January 1, 20X1, at underlying book value. In 20X1, 20X2, and 20X3, Jones Bag reported net income of $8,000, $12,000, and $20,000
For each of the following independent cases, use the equation method to compute the economic order quantity.
What employment records are important to keep? Why?
Colaw Supply purchased machine at a cost of $72,000 on January 2, 2000. It originally had an estimated life of 10-years and a salvage value of $12,000.
Prepare a schedule starting with pretax financial income and compute taxable income. Prepare the journal entry to record income taxes for 2011.
Printers Inc. manufactures and sells a mid-volume color printer (MC) and a high-volume color printer (HC). Each MC requires 100 direct labor hours to manufacture, and each HC requires 150 direct labor hours.
Find out the amount of Milt's income which is subject to income tax by each state. Make sure to compute the full taxable income and show all computations.
Compute the total amount of dividends that was paid to each class of stock, b) Compute the amount of dividends per share for each class of stock.
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