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Benson Industries, Inc. issued $2,000,000 of 8% debentures on May 1, 2001 and received cash totaling $1,774,526. The bonds pay interest semiannually on May 1 and November 1. The maturity date on these bonds is November 1, 2009. The firm uses the effective interest method of amortizing discounts and premiums. The bonds were sold to yield an effective interest rate of 10%. Instructions: 1. Prepare all journal entries for 2001
2. Prepare a partial balance sheet showing the presentation of the bonds and the interest payable at December 31, 2001
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Evaluate operating income for RIM and TIP, discretely, and the net operating income for both.
Calculate the penalty that the IRS agent can impose if he concludes that the improper deduction was attributable to the Luces' negligence.
The firm has established a pattern of increasing its dividends by 3 percent annually and expects to continue doing so. Illustrate what is the market rate of return on this stock?
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Intra-entity sales had the same markup as sales to outsiders. Skillet still had 40% of the intra-entity sales as inventory at the end of 2011. What are consolidated sales and cost of goods sold for 2011?
This new debt will be used to repurchase shares of the outstanding stock. The restructuring is expected to increase the earnings per share. What is minimum level of earnings before interest and taxes that the firm is expecting? Ignore taxes?
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