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On June 30 of the current year, Rural Gas & Electric Co. issued $60,000,000 face value, 9 percent, 10-year bonds payable, with interest dates of December 31 and June 30. The bonds were issued at a discount, resulting in an effective semiannual interest rate of 5 percent. Use Table PV-1 (in Exhibit B-7) and Table PV-2 (in Exhibit B-9) Instructions a. Compute the issue price for the bond that results in an effective semiannual interest rate of 5 percent. (Hint: Discount both the interest payments and the maturity value over 20 semiannual periods.) (Round PV factor to 3 decimal places.)
b. Prepare a journal entry to record the issuance of the bonds at the sales price you computed in part a. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
if you were a partner in a partnership why would you want to state all partnership assets in terms of current prices at
FTC company has been growing at a rate of 20% per year in recent years. The same growth is expected to last for another 2 years. The current dividend (ie: just paid is 1.60 the required rate of return is 10% and the growth after 2 years is expecte..
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10000000 face value zero coupon bonds due in 20 years priced on the market to yield 8 compounded semiannually. round to
Williams & Co., a member of the Private Companies Practice Section, is to have a "peer review." The peer review can be performed by: a CPA firm selected by Williams & Co.
Compute the company's total required production in units of finished product for the entire three month period ending September 30.
the beginning assets were 437800 beginning liabilities were 262660 common stock issued during the year totaled 45100
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