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Question - Ice Inc. sell training contracts with the sale of their software system in one bundle price whereby the customer pays a monthly fee for 36 months. The monthly fee is due at the beginning of each month. During that time, the company provides any training on the software required by the customer. It is expected that training costs incurred will be incurred evenly over time. Any training costs incurred to date have been charged to the Purchases of Merchandise account. Assume that the effects of discounting are not material (i.e. you do not have to discount the cash flows). The company sold 2 of these contracts during 2021 as follows:
Contract A
Contract B
Date of contract
April, 2021
August 1, 2021
Stand-alone selling price of equipment
$155,000
$275,000
Stand-alone selling price of training
$19,000
$28,000
Monthly fee charged to the customer
$5,000
$8,250
Recorded the monthly revenues in the revenue account.
Required - Prepare the adjusting journal entry required at December 31, 2021.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
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