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Question 5 On January 1, 2020, Splish Company purchased $350,000, 8% bonds of Aguirre Co. for $322,973. The bonds were purchased to yield 10% interest. Interest is payable semiannually on July 1 and January 1. The bonds mature on January 1, 2025. Splish Company uses the effective-interest method to amortize discount or premium. On January 1, 2022, Splish Company sold the bonds for $324,733 after receiving interest to meet its liquidity needs. |
| (e) | Prepare the journal entry to record the sale of the bonds on January 1, 2022. |
In: Accounting
Sanchez, Inc. reports the following liabilities (in thousands)
on its December 31, 2022, balance sheet and notes to the financial
statements.
| Accounts payable | $4,263.9 | Mortgage payable | $6,746.7 | |||
| Unearned rent revenue | 1,058.1 | Notes payable (due in 2025) | 335.6 | |||
| Bonds payable | 1,961.2 | Salaries and wages payable | 858.1 | |||
| Current portion of mortgage payable | 1,992.2 | Notes payable (due in 2023) | 2,563.6 | |||
| Income taxes payable | 265.2 | Warranty liability—current | 1,417.3 |
Prepare the liabilities section of Sanchez’s balance sheet as at
December 31, 2022.
In: Accounting
You find the following corporate bond quotes. To calculate the number of years until maturity, assume that it is currently January 15, 2016. The bonds have a par value of $2,000.
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What is the coupon rate for the Williams Co. bond?
In: Finance
Total Purchase cost = $150,000.00 Purchase date = Jan 1, 2020
Useful life = 6 years Salvage value = $50,000.00
Note: each highlighted box is worth 1 point
Complete each depreciation table.
ECONOMIC DEPRECIATION:
|
Year |
Remaining value at beginning of year |
Depreciation |
Remaining value at end of year |
|
2020 |
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2021 |
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2022 |
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2023 |
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2024 |
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2025 |
In: Accounting
On January 1, 2018, Harlow Company paid $156,000 to purchase a piece of equipment. Before the equipment could be used, Harlow had to spend $6,000 to put the equipment in working order. The equipment was assigned a useful life of 12 years and a salvage value of $9,000. The straight-line method will be used to record depreciation on the equipment. On January 1, 2025, Harlow Company decided the life of the equipment should be revised from 12 to 15 years with a salvage value of $5,150 at the end of the 15 years. Calculate the book value of the equipment at December 31, 2026.
In: Accounting
On January 1, 2018, Harlow Company paid $156,000 to purchase a piece of equipment. Before the equipment could be used, Harlow had to spend $6,000 to put the equipment in working order. The equipment was assigned a useful life of 12 years and a salvage value of $9,000. The straight-line method will be used to record depreciation on the equipment. On January 1, 2025, Harlow Company decided the life of the equipment should be revised from 12 to 15 years with a salvage value of $5,150 at the end of the 15 years. Calculate the book value of the equipment at December 31, 2026.
In: Accounting
Business and society
what is the main discussion and analysis ? 1500 words (4 point )(20 marks )
Case study :Today, 60% of Australian adults are classified as overweight or obese. By 2025 that figure is expected to rise to 80%. Many point the finger at sugar - which we're consuming in enormous amounts - and the food and drink industry that makes and sells the products fuelled by it. Despite doctors' calls for urgent action, there's been fierce resistance by the industry to measures aimed at changing what we eat and drink, like the proposed introduction of a sugar tax.
In: Economics
Lease conversion from operating to corporation:
A company has borrowing cost of about 4% in 2014 and lease balance $4,300.
|
Year |
Payment |
Discount Factor |
Present Value (4%) |
Interest |
Lease Obligation |
Lease Balance |
|
2013 |
$4,300 |
|||||
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2014 |
0.9615 |
|||||
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2015 |
0.9246 |
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2016 |
0.8890 |
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2017 |
0.8548 |
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2018 |
0.8219 |
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2019 |
0.7903 |
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2020 |
0.7599 |
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2021 |
0.7307 |
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2022 |
0.7026 |
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2023 |
0.6756 |
|||||
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2024 |
0.6496 |
|||||
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2025 |
0.9246 |
Please calculate the payment, discount factor, PV, interest,
lease obligation and lease balance. (show work please)
In: Finance
1. A student borrows $5000 for college from his aunt and uncle on June 1, 2020. He agrees to repay them $500 on 6/1/2021, 6/1/2022, 6/1/2023, and 6/1/2024; plus three additional payments of X on 6/1/2025, 6/1/2026, and 6/1/2027. They agree to an interest rate of 1.5% compounded annually. Find X
2. For the loan described in question #1, write out the amortization schedule for the loan.
Please show steps
Thank You
In: Finance
As the following table shows, projections indicate that the percent of U.S. adults with diabetes could dramatically increase.
(a) Find the logarithmic model that best fits the data in the table, with t as the number of years after 2000. (Round each coefficient to three places after the decimal.) D(t) = (b) Use the model to predict the percent of U.S. adults with diabetes in 2042. US adults with Year Diabetes (percentage) (
| 2010 | 14.2 |
| 2015 | 19.2 |
| 2020 | 21.1 |
| 2025 | 24.2 |
| 2030 | 27.7 |
| 2035 | 30.1 |
| 2040 | 31.2 |
| 2045 | 32.1 |
| 2050 | 33.4 |
In: Statistics and Probability