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    2 Bond Issues Outstanding

    The Garraty Company has two bond issues outstanding. Both bonds pay $100 annual interest plus $1,000 at maturity. Bond L has a maturity of 15 years, and Bond S a maturity of 1 year. a. What will be the value of each of these bonds when the going rate of interest is (1) 5 percent, (2) 8 percent, and (3) 12 percent? Assume that

    Stock Sale - ABC Corp. acquired a 15% interest in XYZ, Inc.

    In Year 2, ABC Corp. acquired a 15% interest in XYZ, Inc., for $50,000. During the year, XYZ paid dividends of $10,000 and had net income of $30,000. ABC sold the shares of XYZ for $65,000 cash. What entry will ABC make to record the sale? Please see the attached word file.

    Calculating Projected Net Income

    A proposed new investment has projected sales of $740,000. Variable costs are 60% of sales, and fixed costs are $173,000; depreciation is $75,000. Try to prepare a pro forma income statement assuming a tax rate of 35%, and figure out the projected net income.

    Expense accounts for accounting period

    1. Expenses are normally accrued at the end of the accounting period by a small business that follows the cash method of accounting. (True/False) 2. List two expense accounts that are usually accrued at the end of an accounting period. 3. Name the document that is usually completed before a purchase order is executed. 4. Whi

    Mean Temperatures for January and July

    1. The Excel file Weather.xls contains mean temperatures for January and July and average annual precipitation for selected cities across the United States. Construct 90% confidence intervals for the mean temperature and precipitation. See the attach Excel file.

    Internal controls for plant assets

    Harris, CPA, has accepted an engagement to audit the financial statements of Grant Manufacturing Co., a new client. Grant has an adequate control environment and a reasonable segregation of duties. Harris is about to assess control risk for the assertions related to Grant's property and equipment. Required Describe the key i


    What-if-analysis Jeren Company is considering replacing its existing cutting machine with a new machine that will help reduce its defect rate. Relevant information for the two machines includes the following: Cost Item Existing Machine New Machine Monthly fixed costs $32,000

    Tax: Administrative Procedures - Tax Strategy

    The IRS is disputing a deduction reported on your 2005 tax return, which you filed on April 17, 2006. On April 2, 2009, the IRS audit agent asks you to waive the statute of limitations for the entire return so as to give her additional time to obtain a Technical Advice Memorandum. The agent proposes in return for the waive

    Operating and Financial Leverages

    Part 1: What are the sources of operating leverage and financial leverage and explain their impact on operating and net income? Part 2:Your organization (a not for profit group) is considering hiring a professional fund raise to assist in selling raffle tickets. This consultant is going to charge $10,000 (fixed cost) plus 45

    Calculating OASDI

    Calculate OASDI, Hi Tax and OASDI taxable wages. Please see attachment. The silver Gym Company pays its salaried employees monthly on the last day of each month. The annual salary payroll for 2007 follows. Compute the following for the payroll of December 28.

    Net income of Company Selling Cars

    1. Let's assume a company produces 90 cars with VC of $9,000 per vehicle and $200,000 in fixed costs. Let's also assume the cars selling price is set at $12,000. Questions: what would net income be if the company sells all 90 cars in the same year using the TRADITIONAL income statement? What would net income be using the CONTRI

    Expected Capital Gains Yield for Chicago Bears

    Given the following information, calculate the expected capital gains yield for Chicago Bears, Inc: beta = 0.6; market risk premium = 7%; risk-free rate = 8%; D1 = $2; Po = $25. Assume the stock is in equilibrium and exhibits constant growth.

    Managing Checkbooks and Checking Accounts

    A modern business is required to maintain, as a minimum, a checking account and some businesses, especially those in retail, take in cash. Discuss how to manage a checkbook and checking account. Also, discuss the process a business needs to follow in order to account for its cash.

    Corporate Characteristics Proposal

    Your have been hired as consultants for a start-up business venture. As part of your analysis of this new business venture, prepare a proposal to the CEO in which you discuss the following items: a. Describe the different forms of business organizations that could be selected as the basis for the business. b. The chara

    Accounting Internships: A Win-Win Arrangement

    Please summarize the following article in 2 pages or less (12 font double spaced): "Accounting Internships: a win win arrangement" By VanSyckle, Larry D. http://www.allbusiness.com/human-resources/careers-job-training/440653-1.html

    Purpose of Form 941

    What is the purpose of Form 941? Why the IRS is stringent on the timely filing of Form 941? Please explain .

    Realization, Matching, Materiality

    Define and explain the following accounting concepts: - Entity - Money Measurement - Going concern - Cost - Dual Aspect or Dual Accounting - Objectivity - Time period - Conservatism - Realization - Matching - Consistency - Materiality

    Return on Investment: Losen Division of McCarthy Corporation

    As the manager of Losen Division of McCarthy Corporation, you are interested in determining the division's return on investment. As division manager, you have no control over financing assets, but you control acquisition and disposition of assets. The division controller has given you the following data to aid you in calculati

    PV of the interest tax shields, gains from using leverage

    1) If a firm has $7.4 million in debt, $22.4 million in equity, a tax rate of 34%, and pays 6% interest on debt, what is the firm's PV of the interest tax shields? a. $444,000 b. $150,960 c. $15 million d. $2.516 million e. $456,960 2) What do you need to know to calculate the gains from using levera

    Maple Products, Ltd.

    Hello, Help me with the attached problem Please. Thanks MAPLE PRODUCTS, LTD. Direct Materials Price and Quantity Variances for Last Year Standard quantity of materials per hockey stick: Direct materials added to work in process Standard direct materials cost per foot Standard

    Dissolution of partnership & liquidation of partnership property

    1-What is the difference between the dissolution of a partnership and the liquidation of partnership property? After liquidating all property and paying partnership obligations, what is the basis for allocating remaining cash among the partners? 2-When a partner withdraws from a partnership, why is the final distribution ofte

    Minimizing Cost of Meeting Demands: General Ford Example

    General Ford produces cars in Los Angeles and Detroit and has a warehouse in Atlanta. The company supplies cars to customers in Houston and Tampa. The costs of shipping a car between various points are listed in a file where a dash means that a shipment is not allowed. Los Angeles can produce up to 1100 cars, and Detroit can pro

    Accounting Effects of New Credit Policies

    The treasurer of Gould's Stores, Inc., was interested in what effect, if any, new credit terms have had on collections of customer accounts. The usual 30-day payment period was shortened to 20 days in an attempt to reduce the investment in accounts receivable. The following information for the current year and the preceding ye

    Payroll Tax Entries in Excel

    (Payroll Tax Entries) The payroll of Auber Corp. for September 2008 is as follows: Total payroll was $495,000. Pensionable (CPP) and insurable (EI) earnings were $375,000. Income taxes in the amount of $90,000 were withheld, as was $9,000 in union dues. The employment insurance tax rate was 1.80% for employees and 2.52% for empl

    Scattergraph Analysis; High-Low Method

    Month X-Rays Taken X-Ray Costs January...... 6,250 $28,000 February..... 7,000 29,000 March........ 5,000 23,000 April........ 4,250 20,000 May.......... 4,500 22,000 June......... 3,000 17,000 July......... 3,750 18,000 August.......

    High-Low Method and Predicting Costs

    Resort Inns, Inc., has a total of 2,000 rooms in its nationwide chain of motels. On average, 70% of the rooms are occupied each day. The Company's operating costs are $21.00 per occupied room per day at this occupancy level, assuming a 30-day Month. This $21.00 figure contains both variable and fixed cost elements. During Octobe