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An 8-year corporate bond has a yield of 8.3 percent, which includes a liquidity premium of 0.75 percent. What is its default risk premium?
For all other assets and liabilities, book value and fair value were equal. Any excess of cost over fair value was attributed to goodwill, which has not been impaired.
A company has a minimum required rate of return of 8% and is considereing investing in a project that costs $68,337 and is expected to generate cash inflows of $27,000 each year for three years. wha
Francis Equipment Co. closes its books regularly on December 31, but at the end of 2010 it held its cash book open so that a more favorable balance sheet could be prepared for credit purposes. Cash
During May, the input includes the $6,400,000 for materials and $9,360,000 for conversion costs. The amount of good units finished is 800,000 units. In addition the amount of ending work-in-process
After all closing entries are made, Tremen's "Investment in Delany Company" account would have a balance of:
Jenn Co.'s net credit sales for the year just ended were $10 million, its ending accounts receivable balance was $2 million, and the allowance for doubtful accounts was a debit of $100,000. If 2% of
The coupons expire on December 31, 2012. There were 45 million coupons redeemed in 2011, and 30 million redeemed in 2012.
Jim used the car 100% of the time for personal use. Jim received an insurance recovery of 80% of the value of the car at the time of the accident. If Jim's AGI for the year is $50,000, determine his
The deposits are based on the container cost marked up 20%. How much profit did Slotnick realize on the forfeited deposits?
On December 31, 2010, the fair value of the Ranger stock owned by Howdy Doody had increased to $70,000. How much should Howdy Doody show in the 2011 income statement as income from this investment?
A company paid $770,000 plus $5,000 in closing costs for property that included land appraised at $384,000; land improvements appraised at $128,000; and a building appraised at $288,000. The plan is
What amount should Funzy report as a promotional expense for coupons on its December 31, 2011, income statement?
When the patent was initially issued to Maxi Co., Mini Corp.'s stock was selling at $7.50 per share. When Mini Corp. acquired the patent, its stock was selling for $9 a share. Mini Corp. should reco
Hope mistakenly accounted for the investment as available for sale instead of using the equity method. What effect would this error have on the investment account and net income, respectively, for 2
A machine with a five-year estimated useful life and an estimated 10% salvage value was acquired on January 1, 2011. The depreciation expense for 2013 using the double-declining balance method would
What effect on 2011 income should be reported by Goofy for the Crazy Co. shares?
Knique Shoes issued a 100,000, 8 month, noninterest-bearing note. The loan was made by Second Commercial Bank whose stated discount rate is 9%. what is the effective interest rate on this loan ?
Manufacturing overhead is applied at a rate of 110% of direct labor costs. Secret Prizes has 300 kilos of plastic in beginning inventory and wants to have 200 kilos in ending inventory. How much is
Jill reported a net loss of $6 million for the year. What amount of loss should Jack report in its income statement for 2011 relative to its investment in Jill?
Assuming tha Bloomfield owned the same percentage of Clor thorughtout 2011, what must have been their percentage ownership ?
Willma had a number of stock transactions during the year that resulted in an $18,000 capital loss. She has one stock remaining in her portfolio that would give her a $16,000 capital gain if she sol
First Business Bank charges a 3.5% service charge for credit card sales. Prepare the entry on Ritz Company's books to record the sale of merchandise.
Earnings are extremely important to a publicly traded company and the creditors and investors of that company. However, looking at earnings without regard to the quality of those earnings is hazard
quark company owned $90,000 and paid cash dividends of $10,000 to preferred stockholders during the current year. Quark had 12,500 weighter-average shares of common stock outstanding for the year.