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Operations: How profitable is Nike from its day to day operations?Financing: How dependable is Nike on paying its long-term debt?
Mad City Corporation purchased from its stockholders 5,000 shares of its own previously issued stock for $250,000. It later resold 2,000 shares for $54 per share.
If a company owns more than 20% of the stock of another company and the stock is being held as a long-term investment, which method would the investor normally use to account for this investment?
Would the amount of bond discount amortization using the effective interest method of amortization be lower in the second or third year of the life of the bond issue? Why?
On February 15, Seacroft buys 7,000 shares of Kebo common at $28.53 per share plus a brokerage fee of $400. The stock is classified as available-for-sale securities.
Pale Motel, Inc., was a C corporation using a fiscal year ending April 30 for tax purposes for all tax years through April 30, 2009. In May 2009, the corporation made an S election.
Calculate the present value of plan B. 3. Flexon will purchase the equipment that costs the least, as measured by present value. Which equipment should Flexon choose? Why?
Barker company has a single product called a Zet. The company normally produces and sells 80,000 Zets each year at a selling price of $40 per unit.
Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. Summarize the data in tabular form, using the column headings in the Excel templa
Using this information, prepare a partial statement of cash flows for the year ended December 31 2009, showing computation of net cash flows from operating activities by the indirect method.
Assume that on February 10, 2011, Wigs Plus wrote off the $3,500 account of Lasting Images as uncollectible. Illustrate the effect on the accounts and financial statements of the write-off of the
A company issues at par 9% bonds with a par value of $100,000 on April 1. The bonds pay interest semi-annually on January 1 and July 1. The cash received on July 1 by the bond holder?
On January 1, $300,000 of par value bonds with a carrying value of $310,000 is converted to 50,000 shares of $5 par value common stock. The entry to record the conversion of the bonds includes.
Buidling an Income Statement: Tyler, Inc. has sales of $753,000, costs of $308,000, depreciation expense of $46,000, interest expense of $21,500, and a tax rate of 35 percent.
A corporation borrowed $125,000 cash by signing a 5-year, 9% installment note requiring equal annual payments each December 31 of $32,136. What journal entry would the issuer record for the first pa
On January 1 of Year 1, Drum Line Airways issued $3,500,000 of par value bonds for $3,200,000. The bonds pay interest semiannually on January 1 and July 1.
Lopez Company began operations on January 1, 2010. During its first two years, the company completed a number of transactions involving sales on credit.
Kim Co. purchased goods with a list price of $182,500, subject to trade discounts of 20% and 10%, with no cash discounts allowable. How much should Kim Co. record as the cost of these goods?
Mr. Alawishis Wishbone purchased the following items for his business. Table, chairs, laptop computer, and a coat tree. These items affect balances in some accounts on which financial statement?
Three grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is 150 roubles per kilogram.
Replenished the petty cash fund, based on the following summary of petty cash receipts: Office supplies, $189; miscellaneous selling expense, $125; miscellaneous administrative expense, $205. Cash
The Tyus Company has provided the following data for the month of July: raw materials, July 1 $15,000, July 31 $?; work in process, July 1 $12,000, July 31 $10,000; finished goods, July 1, $2,000, a
Company XX has multiple divisions for production of windows. The frames are produced in the frame division. When finished, they are sent to the glass division where the glass.
Jacobs Inc. sold 5 year bonds having a face value of $100,000 and a coupon rate of 7% when the market rate was 9%. The present value of $1 at 9% for five periods is $0.6499.
Rembrandt Enterprises called 400 of its $1,000 face value bonds that had been outstanding for 7 years of the scheduled 30 year life. The bonds were recorded on the books.