Periodic interest payments on bonds are determined by multiplying the par value of the bond by the bond's contract rate.
Answer the following statement true (T) or false (F)
True
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If a customer returns merchandise which has already been paid for, the retailer may give either a cash refund or a credit on account
a. True b. False Indicate whether the statement is true or false
Assuming that Davis purchases 100% of Martin for $300,000, answer the following:
Davis Inc. purchased a controlling interest in Martin Inc. on January 1, 2015, when Martin's common shares and retained earnings were carried at $180,000 and $60,000 respectively. On that date, Martin's book values approximated its fair values, with the exception of the company's inventories and a Patent held by Martin. The patent, which had an estimated remaining useful life of ten years, had a fair value which was $20,000 higher than its book value. Martin's Inventories on January 1, 2015 were estimated to have a fair value that was $16,000 higher than their book value. It was predicted that Martin's goodwill impairment test, which was to be conducted on December 31, 2016, would result in a loss equal to 10% of the goodwill (regardless of the amount) at the date of acquisition being recorded. During 2015, Martin reported a net income of $60,000 and paid $12,000 in dividends. Martin's 2016 net income and dividends were $72,000 and $15,000, respectively. Martin uses straight-line amortization for all of its assets. Required: a) Prepare Davis' Equity Method journal entries for 2015 and 2016. b) Compute the following as at December 31, 2016: i. Investment in Martin Inc. ii. Goodwill iii. The amount of unamortized acquisition differential.
A firm has a total market value of $89,600 with 6,500 shares of stock outstanding. What will be the total market value of the firm if it does a 1-for-2 reverse stock split?
A) $179,200 B) $148,300 C) $122,300 D) $89,600 E) $44,800
To transfer funds from the company's general account to its payroll bank account, the payroll register is sent to the ______________________________ department.
Fill in the blank(s) with the appropriate word(s).