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Question :
Using Excel and the data given below you are to evaluate the price of the bond and create and amortization schedule. Hint: Your Excel spreadsheet could work whether your bond results in a discount or premium.
Once you have completed this assignment ensure your first name and last name are reflected in the first cell of your worksheet.
On 1st January, 2012, Esra Corporation sold 4 percent bonds having a maturity value of $300,000. The market evaluated that 5% was the appropriate rate of interest, provided the risks that Esra Corporation to bondholders. The bonds are dated 1st January, 2012, mature 1st January, 2015, and pay interest on June 30 and December 31 of each year.
The corporation has $6,000 in current earnings and profits for the year and $8,000 in accumulated earnings and profits. How will the corporation identify the distributions to John and Bill?
Prepare the entry to record Farrin's investment in the partnership, assuming the equipment has a fair market value of $5,000.
Given that she will not actually receive any interest payments until the bond matures in 10 years, explain how much interest income will she report this year assuming semiannual compounding of interest?
During 2010, Ace Company had sales of $376,000, operating expenses of $66,000, gross margin of 30%, cash dividends $30,000, other expenses/losses $15,000 and corporation income taxes of 30%. What was the income tax expense for 2010?
The bonds pay interest on June 30 and December 31 and mature on December 31, 2010. Both Wren and Schrub use straightline amortization. Wren uses the equity method of accounting for its investment in Schrub. Complete consolidated balance sheet work..
The net income after taxes is $11,200 for FIFO and $9,800 for LIFO. The tax rate is 30%. The bonus rate is 20%. Explain how much higher is the manager's bonus if FIFO is adopted instead of LIFO?
Since the VP's trust you, they asked you to figure out the most they should pay for a license from SohnCo.Explain your answer in detail and yuli-One Copters is known to be aggressive in ignoring intellectual property claims
Prepare the journal entry to record the acquisition of the assets.
To address this shortcoming, Costanza hired Benes, an expert in jewel valuation, to assist in the inventory valuation. Should Costanza refer to Benes's work in the audit report?
For the year ended December 31, 2011, Bolivar reported net income of $312,000 and paid cash dividends of $96,000. Required: Prepare a schedule to show the balance Jenkins should report as its Investment in Bolivar Co. at December 31, 2011.
Post information for at least two years. How does your corporation perform with value to these ratios?
Describe for the students the primary objectives of accounting. Explain basic terminology of the accounting process or financial reporting.
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