Journal Entries and Unearned Revenue
Your client signs a 12-month rental agreement with your company on 1/1/07 for $12,000. What entry is required: 1. on 1/1/07? 2. on 1/31/07? 3. What type of account is "unearned revenue"?
Your client signs a 12-month rental agreement with your company on 1/1/07 for $12,000. What entry is required: 1. on 1/1/07? 2. on 1/31/07? 3. What type of account is "unearned revenue"?
1. Robert, the Sole Proprietor of a consulting business, has gross receipts of $500,000 in 2006. Expenses paid by his business are: a. Advertising $ 2,500 b. Employee Salaries 150,000 c. Office Rent 24,000 d. Supplies 18,000 e. Taxes and Licenses 17,000 f. Travel (o
Height (in inches) for a sample of 15 male adults are: 62,82,79,76,73,,79, 79 75,75,72,72,72,69,69,69 Draw the histogram for these data using an initial class boundary of 61.5 and a class width of 6.
The Carlton Corporation has $4 million in earnings after taxes and 1 million shares outstanding. The stock trades at a P/E ratio of 20. THE firm has $3 million in excess cash. A. Compute the current price of the stock. B.If the 3 million is used to pay dividends , how much will dividends per share be? C.If the 3million is to
Posting cash receipts journal. I need help posting all journals in accounting.
One of the products that Company W makes is snack foods. The Research and Development department of Company W has developed a new formula for one type of snack food that is cheaper to make than the current formula. They want to test the new formula with consumers. They want to see if consumers can tell the difference between the
A share of common stock just paid a dividend of $3.25 per share. The expected long-run growth rate for this stock is 18%. If investors require a rate of return of 24%, what should the price of the stock be?
Allen, Inc., owns all of the outstanding stock of Bowen Corporation. Amortization expense of $9,000 per year resulted from the original purchase. For 2004, the companies had the following account balances: Allen Bowen Sales
Aedion Company owns control over Breedlove, Inc. Aedion reports sales of $300,000 during 2004 while Breedlove reports $200,000. Inventory costing $20,000 was transferred from Breedlove to Aedion (upstream) during the year for $40,000. Of this amount, 25 percent is still in ending inventory at year's end. Total receivables on the
On January 1, 2004, Mitchell Company has a net book value of $1,500,000 as follows: 1,000 shares of preferred stock; par value $100 per share, cumulative, non participative, non-voting, call value $108 per share........................................................................$100,000 20,000 shares of common stock, p
Ace Company reports current earnings of $400,000 while paying $40,000 in cash dividends. Byrd Company earns $100,000 in net income and distributes $10,000 in dividends. Ace has held a 70 percent interest in Byrd for several years, an investment that it originally purchased at a price equal to the book value of the underlying net
On April 1, 2004, Guns, Inc., purchases 70 percent of the outstanding stock of Roses Corporation for $430,000. The subsidiary's book value on that date was $500,000. Any excess cost was attributable to goodwill. During 2004, Roses generates revenues of $600,000 and expenses of $360,000. Both figures occur evenly throughout th
An investment of $10,000 in 1997 in the Spartan Investment Grade Bond Fund grew to $14, 309.61 in 2002. Use the formula r=(s/p )^1/n -1 to find the five year average. r is the annual return, p is the initial investment and s is the amount it is worth after n years.
Question: What is the relationship between statistical quality improvement and Deming's 14 points?
1. Lakewood Fashions must decide how many lots of assorted ski wear to order for its three stores. Information on pricing, sales, and inventory costs has led to the following payoff table, in thousands. Demand Order Size Low Medium High 1 lot 12 15 15 2 lots 9 25 35 3 lots 6 35 60 a. What decision should be
Dividend History and Forecast for FCF (Fluffy's Cat Farms) Provided by: Sal's Dubious Stock Forecasts, Inc. (SDSI) A Maryland Company Year 2005 2006 2007 (forecast) 2008 (forecast) Net Income 10,000 20,000 30,000 40,000 Sales Revenue 100,000 200,000 400,000 500,000 Dividend Payments per share $0.45 $0.55 $0.65 $1
If a bond is selling in the open market for $1,850.00, with a par value of $1000 and a coupon rate of 10%, we can say: a. The YTM (Yield to Maturity) of the bond is significantly higher than 10% b. The YTM of the bond is significantly lower than 10% c. The YTM of the bond is equal to 10% d. None of these is true.
If a bond with a par value of $1000 is selling for $1075 on the bond market: a. The YTM is equal to the coupon rate. b. The YTM is less than the coupon rate. c. The YTM is greater than the coupon rate. d. None of the above.
If a firm has a balance sheet with 50% debt and 50% equity, cost of debt of 6%, tax rate of 35%, and a cost of equity of 12%, what is the firms weighted average cost of capital?
If a firm has a D/E ratio of 0.5, how much debt does it have for each dollar of equity?
A thirty year zero bond has a par value of $1000 and sells for $356.27 on the open market. The YTM of this bond is? keywords : find, finding, calculating, calculate, determine, determining, verify, verifying, evaluate, evaluating, calculate, calculating, prove, proving, yield-to-maturity
What is the current value of a bond with a coupon rate of 5%, 10 years to maturity, $1000 par value and YTM of 6%?
A certain stock paid a dividend of $2.00 yesterday and has a history of growth in dividends of 15% annually. What dividend will the stock pay in 10 years? a) $8.09 b) $20.31 c) $0.49 d) $20.00
Global Technology's capital structure is as follows: Debt 35% Preferred stock 15% Common equity 50% The after-tax cost of debt is 6.5 percent; the cost of preferred stock is 10 percent; and the cost of common equity (in the form of retained earnings) is 13.5 percent. Calculate Global Technology's weighted aver
17. Haynes, Inc., obtains 100 percent of Turner Company's common stock on January 1, 2002, by issuing 9,000 shares of $10 par value common tock. Haynes's shares had a $15 per share fair market value. On that date, Turner reported a net book value of $100,000. However, its equipment (with a five-year remaining life) was unde
Assume you can buy a warrant for $5 that gives you the option to buy one share of common stock at $14 per share. The stock is currently selling at $16 per share. a. What is the intrinsic value of the warrant? b. What is the speculative premium on the warrant? c. If the stock rises to $24 per share and the warrant sells
Laser Electronics Company has $30 million in 8 percent convertible bonds outstanding. The conversion ratio is 50; the stock price is $17; and the bond matures in 15 years. The bonds are currently selling at a conversion premium of $60 over their conversion value. If the price of the common stock rises to $23 on this date n
Springsteen Music Company earned $820 million last year and paid out 20% of earning in dividends. a. By how much did the company's retained earnings increase? b. With 100 million shares outstanding and a stock price of $50, what was the dividend yield?
1. Give a dollar range of costs to reduce budgets (worst and best case analysis). 2. You need to cut $94,000 in cost. Prioritize those cuts that can be made without impacting the operation or quality care of the organization. 3. How would you advise Dr. White to prepare for reduced budgets? (See attached for full financial
Details: Dr. Stephanie White, the Chief Administrator of Uptown Clinic, a community mental health agency, is concerned about the dilemma of coping with reduced budgets next year and into the foreseeable future, but increasing demand for services. In order to plan for reduced budgets, she must first identify where costs can be cu