The business required £30,000 cash for working capital. The company gets a loan of £450,000 which was transfer into the business bank account in January as shown in appendix 6. The cash budget shows a balance of £3,918 in January and £16,335 February. The loan calculation is shown in appendix 8. This is expected to be paid back within 8 years by monthly paid instalments of £5.718.41 which was calculated on a 5.1% interest rate.
Question: : (TCO D) On December 31, 2010, Irey Co. has $2,000,000 of short-term notes payable due on February 14, 2011. On January 10, 2011, Irey arranged a line of credit with County Bank which allows Irey to borrow up to $1,700,000 at one percent above the prime rate for three years. On February 2, 2011, Irey borrowed $1,700,000 from County Bank and used $300,000 additional cash to liquidate $1,700,000 of the short-term notes payable. The amount of the short-term notes payable that should be reported as current liabilities on the December 31, 2010 balance sheet which is issued on March 5, 2011 is 9. Question: : (TCO D) Tender Foot Inc. is involved in litigation regarding a faulty product sold in a prior year.
What amount should Ruiz record on March 1, 2010 as paid-in capital from stock warrants? (Points : 4) $28,800 $33,600 $41,600 $40,000 3. (TCO A) On January 1, 2010, Trent Company granted Dick Williams, an employee, an option to buy 100 shares of Trent Co. stock for $30 per share, the option exercisable for 5 years from date of grant. Using a fair value option pricing model, total compensation expense is determined to be $900. Williams exercised his option on September 1, 2010, and sold his 100 shares on December 1, 2010.
BUSN602 Midterm Exam Set 2 Click Link Below To Buy: http://hwcampus.com/shop/busn602-midterm-exam-2/ Return to Assessment List Part 1 of 1 - 100.0 Points Question 1 of 20 5.0 Points Jill Clinton puts $1,000 in a savings passbook that pays 4% compounded quarterly. How much will she have in her account after five years? A.$1,200.50 B.$1,220.20 C.$1,174.80 D.$1,217.50 Question 2 of 20 5.0 Points An increase in inflation should: A.increase the demand for loanable funds B.decrease the interest rate on loans C.increase the interest rate on loans D.none of the above Question 3 of 20 5.0 Points Economists use a ___________________ framework to explain
Bond Interest Income of $ 160,000 was accrued at the end of year. Refunds of $ 150,000 were made in cash to terminated, non-vested participating employees. Common stocks, which are carried at a fair value of $ 500,000, were sold for $472,000. The amount of the sales price of the stock plus an additional $ 360,000 was invested in stocks. As of the end of the fiscal year, June 30, 2012, a determination has been made that the fair value of the stocks held by the pension plan had decreased by $ 60,000; the fair value of bonds had increased by $35,000.
(TCOs 3, 4, 5, & 7) During the past two years, through extensive advertising and improved customer relations, Beech Corporation estimated that it had developed customer goodwill worth $100,000. For the current year, determine the amount of goodwill Beech Corporation may amortize. Question 6. (TCOs 3, 4, 5, & 7) Damien, not a dealer in real estate, sold real estate with a basis of $250,000 for $500,000 cash, a note for $250,000, and the buyer assumed Damien’s mortgage on the property of $125,000. During the year, the purchaser paid Damien $30,000 principal and $72,000 interest on the note and paid $6,000 principal and $18,000 interest on the mortgage he assumed.
Inventory per the books is $483,172. Your inventory turnover is one times per year and the industry standard is 1.5 times per year. Per our conversations over the year I have suggested that you should evaluate the inventory and those items that still have in inventory for more that 24 months should be either at a very little profit or at least at your cost. The sale of these items can then either reinvest into items that will turnover or to reduce debt. The accounts payable at the Fiscal Year End increased by almost 200%.
• Prepaid expenses increased $150,000 during the year. • Accounts payable to suppliers of merchandise decreased $340,000 during the year. • Accrued expenses payable decreased $100,000 during the year. • Operating expenses include depreciation expense of $70,000. Instructions Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2015, for Whitlock Company, using the indirect method.
C else equal, the break-even point for a taxpayer paying points on an original mortgage is longer All . when the taxpayer's marginal income tax rate increases in the years subsequent to the original financing compared to a taxpayer whose marginal tax rate does not change in the years subsequent to the year in which the loan is executed. D. None of the above statements is correct. 72. On March 31, 2011, Mary borrowed $200,000 to refinance the original mortgage on her principal residence.
Checkable deposits contract by $2,800, but $700 is converted into currency held by the public. The money supply contracts by $2,100. b. Checkable deposits contract by $14,000, but $700 is converted into currency held by the public. The money supply contracts by $13,300. c. Checkable deposits expand by $3,750, but currency in circulation falls by $750.