On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $113 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31, beginning in 2022. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $). Determine the price of the bonds on December 31, 2021, assuming that the market rate of interest for similar bonds was 6%.
Table values are based on:
n = 30
i = 6%
Cash Flow Amount Present Value
Interest $111,300,000 $74,454,240
Principal $100,000,000 $13,137,000
Price of bonds $87,591,240

Answer:

Bond Price = $97.4457408 million rounded off to $97.45 million

Explanation:

To calculate the price of the bond today, we will use the formula for the price of the bond. We assume that the interest rate provided is stated in annual terms. As the bond is an annual bond, the coupon payment, number of periods and annual YTM will be,

Coupon Payment (C) = 113 million * 0.05 = 5.65 million

Total periods (n) = 30

r or YTM = 0.06 or 6%

The formula to calculate the price of the bonds today is attached.

Bond Price =5.65 * [( 1 - (1+0.06)^-30) / 0.06]  +  113 / (1+0.06)^30

Bond Price = $97.4457408 million rounded off to $97.45 million

As energy costs continue to rise, power efficiency is increasingly important. Acme Chemical is evaluating 2 different electric motors to drive a mixing motor and needs to perform a present economy study. The motor will produce 75 hp and will be operated 8 hours per day, 365 days for one year (maintenance will be performed on second shift—assume no down time during operation), after which time the motor will have no value. Select the most economical motor. Assume Acme’ s electric power costs $0.16 per kWh. (1 hp = 0.746 kW).
Motor A Motor B
Purchase price $3,200 $5,900
Annual maintenance cost $250 $450
Efficiency 75% 85%

Sales Budget Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells for $475, and the S12L5 sells for $300. Projected sales (number of speakers) for the coming five quarters are as follows:
$12L7 $12L5
First quarter, 20Y1 800 1,300
Second quarter, 20Y1 2,200 1,400
Third quarter, 20Y1 5,600 5,300
Fourth quarter, 20Y1 4,600 3,900
First quarter, 20Y2 900 1,200
The vice president of sales believes that the projected sales are realistic and can be achieved by the company.
Required:
1. Prepare a sales budget for each quarter of 20Y1 and for the year in total. Show sales by product and in total for each time period. Do not include a multiplication symbol as part of your answer.
Stillwater Designs
Sales Budget
For the Year Ended December 31, 20Y1
1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Total
$12L7:
Units
Price
Sales
$12L5:
Units
Price
Sales
Total sales
How will Stillwater Designs use this sales budget?
1. Stillwater Designs will use the sales budget in planning as the basis for the production budget.
2. The company can also compare actual sales against the budget to see if expectations were achieved.
3. Both 1 and 2.
4. None of the above.

Your company is estimated to make dividends payments of $2.2 next year, $3.8 the year after, and $4.8 in the year after that. The dividends will then grow at a constant rate of 6% per year. If the discount rate is 13% then what is the current stock price

The bookkeeper for Wildhorse Co. asks you to record the following accrual adjustments at December 31 in the tabular summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
(a) Interest on notes payable of $350 is accrued.
(b) Services performed but unbilled totals $1,850.
(c) Salaries of $700 earned by employees have not been recorded.
Assets Liabilities Stockholders' Equity Accounts_ Interest Payable +Payable Sal./Wages ^ Com Stock Adjustment Receivable + Rev. Exp Div

The company's adjusted trial balance includes the following accounts balances: Cash, $15,000; Equipment, $85,000; Accumulated Depreciation, $25,000; Accounts Payable, $10,000; Retained earnings, $59,000; Dividends, $2,000; Fees Earned, $56,000; Depreciation Expense, $25,000; and Salaries Expense, $23,000. All accounts have normal balances.

Required:
Prepare the first closing entry.

No Date General Journal Debit Credit
1 Dec 31 No Transaction recorded

Alan works as a salesperson for an insurance company. Recently, he sold an insurance policy to a new customer. During their conversation, Alan made a list of all the benefits that the policy would offer the customer. He politely asked the customer to list the various drawbacks of buying the policy. In the end, Alan was able to close the sale because the benefits greatly outnumbered the drawbacks. Which closing technique did Alan use in this scenario?
A.
assumptive close
B.
Ben Franklin close
C.
porcupine close
D.
Sharp Angle close

Suppose you are the information technology (IT) manager for an IT company. You receive a report that contains a list of computer equipment stored in the company warehouse. You notice that the list also includes items that you know are not stored in the warehouse. Would you consider this list as good information? Why, or why not? Give some examples of at least three items on this list that you consider to be good information and at least three items on this list that would not be good information. Explain your reasoning, and include a discussion about why good information is important in management information systems (MIS).

Hults Corporation has provided data concerning the company's Manufacturing Overhead account for the month of November. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $75,150 and the total of the credits to the account was $66,900. Which of the following statements is true?
A. Manufacturing overhead applied to Work in Process for the month was $68,800.B. Manufacturing overhead for the month was underapplied by $8,000.C. Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $68,800.D. Actual manufacturing overhead incurred during the month was $60,800.

what is marginal utility
​

Duke Company's records show the following account balances at December 31, 2021:
Sales revenue $15,800,000
Cost of goods sold 9,400,000
General and administrative expense 1,040,000
Selling expense 540,000
Interest expense 740,000
Income tax expense has not yet been determined. The following events also occurred during 2018. All transactions are material in amount.
a. $480,000 in restructuring costs were incurred in connection with plant closings.
b. Inventory costing $580,000 was written off as obsolete. Material losses of this type are considered to be unusual.
c. It was discovered that depreciation expense for 2017 was understated by $68,000 due to a mathematical error.
d. The company experienced a negative foreign currency translation adjustment of $380,000 and had unrealized gains on investments of $360,000.
Required:
Prepare a single, continuous multiple-step statement of comprehensive income for 2021. The company's effective tax rate on all items affecting comprehensive income is 25%. Each component of other comprehensive income should be displayed net of tax. Ignore EPS disclosures. (Amounts to be deducted should be indicated with a minus sign.)

The Tax Cuts and Jobs Act of 2017 temporarily allows​ 100% bonus depreciation​ (effectively expensing capital​ expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career. a. Costs except depreciation The forecasted costs except depreciation will be

The accounting department of your company has just delivered a draft of the current year's financial statements to you. The summary is as follows:

Beginning of the Year End of the Year
Total Assets $550,000 $573,000
Total Liabilities 210,000 217,000
Total Equity 340,000 356,000
Net Income for the Year 101,900
Common Shares Outstanding 22,000 22,000

You discovered that they have not adjusted for estimated bad debt expenses of $8,500. For each of the following ratios, calculate:

a. The ratio that would have resulted had the error not been discovered (i.e. the incorrect ratio).
b. The correct ratio.

1. ROE
2. ROA
3. Debit ratio
4. EPS

Instructions
1. On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month Oct Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $40,000.
2. Paid rent on office and equipment for the month, $4,800.
3. Purchased supplies on account, $2,150.
4. Paid creditor on account, $1,100
5. Earned sales commissions, receiving cash, $18,750.
6. Paid automobile expenses (including rental charge) for month, $1,580, and miscellaneous expenses, $800
7. Paid office salaries, $3,500
8. Determined that the cost of supplies used was $1,300 9 Paid dividends, $1,500
1. Journalize entries for transactions Oct. 1 through 9. Refer to the Chart of Accounts for exact wording of account tities.
2. Post the journal entries to the Taccounts, selecting the appropriate date to the left of each amount to identify the transactions. Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance
3. Prepare an unadjusted trial balance as of October 31, 2018.
4. Determine the following:
a. Amount of total revenue recorded in the ledger
b. Amount of total expenses recorded in the ledger.
c. Amount of net income for October.
5. Determine the increase or decrease in retained earnings for October.

Windsor, Inc. was started on May 1. A summary of May transactions is presented below.
1. Stockholders invested $23,500 cash in the business in exchange for common
stock.
2. Purchased equipment for $4,000 cash.
3. Paid $200 cash for May office rent.
4. Paid $600 cash for supplies.
5. Incurred $150 of advertising costs in the Beacon News on account.
6. Received $4,900 in cash from customers for repair service.
7. Declared and paid a $1,400 cash dividend.
8. Paid part-time employee salaries $1,200.
9. Paid utility bills $140.
10. Performed repair services worth $1,020 on account.
11. Collected cash of $110 for services billed in transaction (10).
Required:
Prepare a tabular analysis of the transactions. Revenue is called service revenue.

Peartree Inc. provides the following​ data:
2015 2014
Cash $47,000 ​$25,000
Accounts​ Receivable, Net 99,000 ​62,000
Merchandise Inventory 79,000 ​50,000
​Property, Plant, and​
Equipment, Net 181,000 ​ 120,000
Total assets $406,000 ​$257,000
Additional​ information:
Net sales $530,000
Cost of Goods Sold 150,000
Interest expense 24,000
Net income 181,000
Calculate the return on total assets for the year 2015.
A.​ 62.03%.B.​ 45.79%.C.​ 50.74%.D. ​71.98%.

The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurred Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred $ 15,000 130,000 8,000 70,000 240,000 10,000 $473,000 Other costs incurred Purchases of raw materials (both direct and indirect) Direct labor cost $400,000 $60,000 Inventories: Raw materials, beginning. Raw materials, ending Work in process, beginning Work in process, ending $20,000 $30,000 $40,000 $70,000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 19,400 machine-hours were used during the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year 2. Prepare a schedule of cost of goods manufactured for the year

Suppose 60 students are candidates for four scholarships – one for $500, one for $750, one for $1000 and the fourth for $1200:
a)How many way can four students get selected from the 60 candidates?
b)If you, your brother, and two sisters are four of the 60 candidates, what is the probability all four of you will get the four scholarships?

ZigZag Cola produces a​ lemon-lime soda. The production process starts with workers mixing the lemon syrup and lime flavors in a secret recipe. The company enhances the combined syrup with caffeine.​ Finally, the company dilutes the mixture with carbonated water. ZigZag Cola incurs the following costs​ (in thousands):
Plant janitors' wages $ 900
Delivery truck drivers' wages $ 275
Payment for new recipe $ 1,300
Depreciation on delivery trucks $ 175
Plant utilities $ 650
Lime flavoring $ 1,180
Rearranging plant layout $ 1,600
Bottles $ 1,040
Salt 50
Sales commissions $ 325
Production costs of "cents-off' store coupons for customers $ 770
Lemon syrup $ 16,000
Replace products with expired dates upon customer complaint $ 70
Depreciation on plant and equipment $ 2,700
Wages of workers who mix syrup $ 7,800
Customer hotline $ 180
Freight-in on materials $ 2,000
Requirements​ 1, 2 and 3. Classify each of these costs according to its category in the value chain and further break down production costs into three​ subcategories: Direct Materials​ (DM), Direct Labor​ (DL), or Manufacturing Overhead​ (MOH). Compute the total costs for each value chain category.

Prepare financial statements from an adjusted trial balance (LO3-5) [The following information applies to the questions displayed below.]
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below.
Accounts Debit Credit
Cash $ 11,200
Accounts Receivable 142,000
Prepaid Rent 5,200
Supplies 26,000
Equipment 320,000
Accumulated Depreciation $ 127,000
Accounts Payable 11,200
Salaries Payable 10,200
Interest Payable 4,200
Notes Payable (due in two years) 32,000
Common Stock 220,000
Retained Earnings 52,000
Service Revenue 420,000
Salaries Expense 320,000
Rent Expense 16,000
Depreciation Expense 32,000
Interest Expense 4,200
Totals 847,800 876,600
Required:
Prepare an income statement for the year ended December 31, 2021.
FIGHTIN' BLUE HENS CORPORATION
Income Statement
For the Year Ended December 31, 2021
Expenses:
Total expenses

Bill was severely injured when he was hit by a car while jogging. He spent one month in the hospital and missed three months of work because of the injuries. Total medical costs were $54,000. Bill received the following payments as a result of the accident:
His employer-provided accident insurance reimbursed him for $43,200 of the medical costs and provided him with $3,800 in sick pay while he was out of work.
A private medical insurance policy purchased by Bill paid him $10,800 for medical costs.
His employer gave Bill $7,200 to help him get through his re-habilitation period.
A separate disability policy that Bill had purchased paid him $3,800.
How much gross income does Bill have as a result of the payments received for the accident?

Randy is the manager of a motel. As a condition of his employment, Randy is required to live in a room on the premises so that he would be there in case of emergencies. Randy considered this a fringe benefit since he would otherwise be required to pay $800 per month rent. The room that Randy occupied normally rented for $70 per night, or $2,100 per month. On the average, 90% of the motel rooms were occupied. As a result of this rent-free use of a room, Randy is required to include how much gross income?

StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Beginning Inventory Ending Inventory Raw materials $ 29,700 $ 25,600 Work in process 22,400 46,100 Finished goods 78,300 69,800 Additional information for the month of March follows: Raw materials purchases $ 41,600 Indirect materials used 1,200 Direct labor 62,900 Manufacturing overhead applied 36,700 Selling, general, and administrative expenses 24,300 Sales revenue 237,000 Required: 1. Based on the above information, prepare a cost of goods manufactured report. 2. Based on the above information, prepare an income statement for the month of March.

Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.

Oct. 1. Paid rent for the month, $5,100.
3. Paid advertising expense, $3,230.
5. Paid cash for supplies, $1,380.
6. Purchased office equipment on account, $21,200.
10. Received cash from customers on account, $6,920.
15. Paid creditors on account, $2,030.
27. Paid cash for miscellaneous expenses, $880.
30. Paid telephone bill (utility expense) for the month, $320.
31. Fees earned and billed to customers for the month, $46,100.
31. Paid electricity bill (utility expense) for the month, $550.
31. Withdrew cash for personal use, $3,500.

Required:
Journalize the selected transactions for October 2019.

Trial Balance September 30, 2022


Debit Credit
Cash $23,640
Accounts Receivable 7,040
Supplies 4,270
Equipment 10,170
Accounts Payable $9,240
Unearned Service Revenue 3,270
Common Stock 19,440
Retained Earnings 13,170
$45,120 $45,120

The October transactions were as follows.

Oct. 5 Received $1,310 in cash from customers for accounts receivable due.
10 Billed customers for services performed $5,410.
15 Paid employee salaries $1,110.
17 Performed $580 of services in exchange for cash.
20 Paid $1,830 to creditors for accounts payable due.
29 Paid a $250 cash dividend. 31 Paid utilities $420.

Required:
Prepare a general ledger using T-accounts.

George runs a small retail business. He sells brands that another business manufactures. George’s retail store uses the logos and trademarks of that business to attract customers. George thus acts as a dealer on behalf of the manufacturing business. Which type of franchise model does George’s retail business follow? A. trademark franchise B. product distribution franchise C. manufacturing franchise D. management franchise E. business format franchise

Larned Corporation recorded the following transactions for the just completed month. $78,000 in raw materials were purchased on account. $76,000 in raw materials were used in production. Of this amount, $64,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $121,000 were paid in cash. Of this amount, $103,400 was for direct labor and the remainder was for indirect labor. Depreciation of $197,000 was incurred on factory equipment.

Required:
Record the above transactions in journal entries.

Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company’s inventory balances were as follows:

Raw materials $ 40,000
Work in process $ 18,000
Finished goods $ 35,000

The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company’s predetermined overhead rate of $16.25 per direct labor-hour was based on a cost formula that estimated $650,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year:

a. Raw materials were purchased on account, $510,000
b. Raw materials use in production, $480000. All of of the raw materials were used as direct materials.
c. The following costs were accrued for employee services: direct labor, $600,000; indirect labor, $150,000; selling and administrative salaries, $240,000.
d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $367,000
e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $500,000.
f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year.
g. Jobs costing $1,680,000 to manufacture according to their job cost sheets were completed during the year.
h. Jobs were sold on account to customers during the year for a total of $2,800,000. The jobs cost $1,690,000 to manufacture according to their job cost sheets.

Required:
1. What is the journal entry to record the labor costs incurred during the year?
2. What is the total amount of manufacturing overhead applied to production during the year?
3. What is the total manufacturing cost added to Work in Process during the year?
4. What is the journal entry to record the transfer of completed jobs that is referred to in item g above?
5. What is the ending balance in Work in Process?
6. Is manufacturing overhead underapplied or overapplied for the year? By how much?
7. What is the ending balance in Finished Goods?
8. Assuming that the company closes its underapplied or overapplied overhead to Cost of Goods Sold, what is the adjusted cost of goods sold for the year?
9. What is the gross margin for the year?
10. What is the net operating income for the year?

Eileen transfers property worth $200,000, basis of $60,000, to Goldfinch Corporation. In return, she receives 82% of the stock in Goldfinch Corporation worth $180,000, and a ten year note, executed by Goldfinch and made payable to Eileen, worth $20,000. Eileen will recognize no gain on the transfer of:_______.
a. $190,000.
b. 50.
c. $20,000.
d. $10,000.
e. none of these cholces are correct.

What is Your Fav song and Singer??

Aka:My Song is 10,000 hours and singer is Taylor swift but she dont sing that song!

Im a county person and a Farm girl im in 6th grade but me and my mom and dad moved into the city its not fun because i dont get to have horses and stuff.

Use EMBG's adjusted trial balance to prepare entries to close EMBG's temporary accounts (using Retained Earnings), in journal entry form.
EMBG CORPORATION
Adjusted Trial Balance
For the Year Ending December 31, 2016
Debit Credit
Cash $44,000
Accounts receivable 28,000
Equipment 376,000
Accumulated depreciation $72,000
Notes payable 60,000
Common stock 130,000
Retained earnings 62,000
Service fees earned 326,000
Rent expense 44,000
Salaries expense 116,000
Depreciation expense 42,000
Totals $650,000 $650,000