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According to a credit agreement with the company's bank, Franke promises to have a minimum cash balance of $20,000 at each month-end. In return, the bank has agreed that the company can borrow up to $160,000 at an annual interest rate of 12%, paid on the last day of each month. The interest is computed based on the beginning balance of the loan for the month. The company has a cash balance of $20,000 and a loan balance of $40,000 at January 1. Prepare monthly cash budgets for each of the first three months of next year.
Mary bought 100 share of Ford Motor Company stock in 2008 at $40 per share. It is now values in 2010 at $50 per share. How much tax liability will Mary have when she submits her 2010 tax forms to the federal government?
Callaghan Motors' bonds have 10 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 8 percent
Gordon uses a minium desired rate of return of 12% for selecting new projets and for evaluating the three divisions using residual income (RI). The firm's weighted-average cost of capital is 8%.
Kyle sold land on the installment basis for $100,000. His basis in the land was $70,000. Kyle received a $40,000 down payment and a real estate installment sale contract calling for $60,000 in additional payments in future years.
Mary is an employee of Robert's CPA business who has earned a $50,000 bonus. GR Systems pays Mary $50,000 and also issues Mary Form 1099-Misc. How much gross income is reported by Robert? By Mary?
Delray Technology is considering these two alternatives to finance its construction of a new $2 million plant:
At the beginning of 2011, Red decided to change the depreciation to the double-declining balance method. The residual value remains at $4 million. Ignoring income taxes, what will be Red's depreciation expense for 2011?
Assuming that total dividends declared in 2003 were $88,000, and that the preferred stock is not cumulative but is fully participating, each common share should receive 2003 dividends of what amount?
Bonita places a coupon in each box of its product. Customers may send in five coupons and $3-A total of 400,000 boxes of product were sold in 2010. It was estimated that 6% of the coupons would be redeemed.
On February 1, 2010, Katz corp. purchased a small lot and unusable building for $12,000, including back taxes of $1,000. On March 1, 2010, the lot was cleared, paved, and fenced to provide additional parking for employees.
From the lessee's viewpoint, what kind of lease is the above agreement? From the lessor's viewpoint, what kind of lease is the above agreement?
The Nichols Company uses the weighted-average method in its process costing system. The company recorded 29,500 equivalent units for conversion costs for November in a particular department.
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