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On January 1, 2009, Carlin Corporation issued $2,400,000 of 5-year, 8% bonds at 95; the bonds pay interest semiannually on July 1 and January 1.By January 1, 2011, the market rate of interest for bonds of risk similar to those of Carlin Corporation had risen. As a result the market value of these bonds was $2,000,000 on January 1, 2011-below their carrying value.Andrea Carlin, president of the company, suggests repurchasing all of these bonds in the open market at the $2,000,000 price. To do so the company will have to issue $2,000,000 (face value) of new 10-year, 11% bonds at par. The president asks you, as controller, "What is the feasibility of my proposed repurchase plan?" Required:include;•A discussion of the economic factors that you believe should be considered for her repurchase proposal. Comment on the relative increase/decrease in interest expense for Carlin Corporation if a new bond issue is made.•What is the carrying value of the outstanding Carlin Corporation 5-year bonds on January 1, 2011? (Assume straight-line amortization.)
Would the yield spread on a corporate bond over a Treasury bond with the same maturity tend to become wider or narrower if the economy appeared to be heading toward a recession?
Rob, Bill, and Steve form Big Company. Rob performs $45,000 of services for his shares of the company. Bill transferred property with a basis of $5,000 for $75,000 of stock. Steve contributes cash of $100,000 for his shares. Which of the three must r..
At the end of the year, Marianne's share of partnership liabilities decreased by $30,000. Assuming loss limitation rules do not apply, Marianne's basis in the partnership interest at the end of the year is:
Why do auditors find it necessary to use sampling? What are the risks associated with sampling? How might these risks affect the audit conclusion? (100 words)
Phipps Company borrowed $25,000 cash on October 1, 2009, and signed a six-month, 8% interest-bearing note payable with interest payable at maturity. Assuming that no adjusting entries have been made during the year, the amount of accrued interest ..
On August 1, 2009, the company is paid $3,840 cash in advance to provide monthly service for an apartment complex for one year. The company began providing the services in August. When the cash was received, the full amount was credited to the Ext..
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.
Suppose that, on March 28, 2020, this security's price is $38,260. If an investor had purchased it for $24,099 at the offering and sold it on this day, what annual rate of return would she have earned?
Compute the efficiency variances for direct labour and direct materials. Provide likely explanations for variances. Do you have reason to be concerned about you performance evaluation? Explain.
Two measures of horizontal analysis-for example, compute the total change in assets by percentage, by dividing current assets in 2005 by current assets in 2004. Compute a similar percentage for current liabilities.
On March 5th, Blowout Sales makes $22,500.00 in sales on the company's own credit cards. The cost of merchandise sold are $16,825.00. Journalize the sales and recognition of the cost of merchandise sold.
One problem with this plan is that the liabilities of his sole proprietorship exceed the basis of the assets to be transferred to the corporation by $70,000 ($20,000 - $130,000). Therefore, Joel would be required to recognize a gain of $70,000.
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