On June 30, 2016, Gaston Corporation sold $800,000 of 11% face value bonds for $761,150.96. On December 31, 2016, Gaston sold $700,000 of this same bond issue for $734,645.28. The bonds were dated January 1, 2016, pay interest semiannually on each December 31 and June 30, and are due December 31, 2023.

Required:

Compute the effective yield rate on each issuance of Gaston's 11% bonds. Click here to access the tables to use with this problem. Round your answers to the nearest whole percentage.

Brief Exercise 13-6

Net income was $501,000 in 2015, $471,000 in 2016, and $519,000 in 2017. What is the percentage of change from (a) 2015 to 2016, and (b) from 2016 to 2017? Is the change an increase or a decrease? (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 0 decimal places, e.g. 12%.)

PLEASE COMPUTE THE FOLLOWING IN EXCEL and show the excel sheet, Thank you so much!

The following are the runs scored totals for 9 players for the 2016 New York Yankees: 56,43,63,68,58,80,71,32,19

(a) Find the mean and median

(b) Find the standard deviation of this population

(c) Considering this as a normal sample of American League players for the 2016 season, find a 99% Confidence Interval for the actual mean of Runs Scored for AL players, 2016 .

(d) Considering this as a normal sample of American League players for the 2016 season, find a 90% Confidence Interval for the actual mean of Runs Scored for AL players, 2016 .

Chowan Corporation issued $115,000 of 9% bonds dated January 1, 2016, for $111,283.65 on January 1, 2016. The bonds are due December 31, 2019, were issued to yield 10%, and pay interest semiannually on June 30 and December 31. Chowan uses the effective interest method of amortization.

Required:

You are given the following information for Company ABC as of December 31, 2016:

Capital Stock, $1,000,000 ($1 par)

Paid-In Capital in Excess of Par Value—Common, $4,000,000

Retained Earnings Balance on January 1, 2016, $400,000

Retained Earnings Balance on December 31, 2016, $300,000

Dividends declared and paid in 2016: $1,100,000

What was the company's net income for 2016?

Select one:

a. $1,200,000

b. $100,000

c. $0

d. None of the above

How many shares of stock are issued and outstanding?

Select one:

a. 4,000,000

b. 5,000,000

c. 1,000,000

d. None of the above

Weiland Co. shows the following information on its 2016 income statement: sales = $173,000; costs = $91,400; other expenses = $5,100; depreciation expense = $12,100; interest expense = $8,900; taxes = $21,090; dividends = $9,700. In addition, you’re told that the firm issued $2,900 in new equity during 2016 and redeemed $4,000 in outstanding long-term debt. a. What is the 2016 operating cash flow? b. What is the 2016 cash flow to creditors? c. What is the 2016 cash flow to stockholders? d. If net fixed assets increased by $23,140 during the year, what was the addition to NWC?

Ahmad Corporation paid $350,000 for a 30 percent interest in Fakhry Corporation on July 1, 2016, when Fakhry Corporation’s common stock was at $350,000 and retained earnings at $150,000. In 2016, Fakhry declared and paid dividends of $20,000 each on March 1 and September 1. Fakhry’s income for 2016 is summarized below: Income before extraordinary item $80,000 Extraordinary gains, December 2016 20,000 Net income $100,000 Fakhry’s assets and liabilities were stated at fair values on July 1, 2016, except for land that was undervalued by $25,000 and equipment with a five-year remaining useful life that was undervalued by $50,000. >Prepare all the journal entries (other than closing entries) on the books of Ahmad Corporation during 2016 to account for the investment in Fakhry!

Satsuma Berhad bought 8 % of Natural Herb 's ordinary shares for RM210 million on 2January 2016. Under general conditions, the shares would be categorized by Satsuma as an Available for Sale. However, Satsuma elected the fair value option for the investment. On 31 December 2016, the fair value of the shares held by Satsuma was RM215 millior. Meanwhile, Natural Herb's net income for the year ended 31 December 2016 was RM320 million. Dividend declared by Natural Herb during 2016 was RM80 million. Required: (a) Explain how the investment would be classified in Satsuma's statement of financial position (i.e. as Available for Sale, Held to Maturity, trading or others). (b) Provide the journal entries during the year 2016 to account for the transactions. (c) Discuss the effect of this investment on 2016 income before taxes.

Clark Fork, Inc. had 100,000 shares of common stock outstanding on December 31, 2014. The following changes occurred during 2015 and 2016:

The 2016 income statement will include earnings per share computations for 2015 and 2016.

For calculating basic earnings per share for that statement, what is the weighted average number of shares outstanding for the year 2015? What is the weighted average number of shares outstanding for the year 2016?

PQR Corporation had an inventory of widgets on hand on January 1, 2016 which cost $10 per widget. During 2016 PQR increased its widget inventory through two purchases. On February 1, PQR purchased another 1000 widgets at a cost of $13 per widget; and on September 1, 2016 it purchased another 1000 widgets at 15 per widget. There was only one sale of widgets during 2016. It occurred on December 11, 2016 when 1500 widgets were sold.

What was the cost of goods sold and closing inventory value for the widgets at December 31, 2016, the end of PQR’s fiscal year using A) the average cost method, B) the FIFO cost method and C) the LIFO cost method?

Opening and ending inventory quantity are not provided.