Dolby, Inc. issued a $5,000 face value, 10%, five-year bond at 98. What will be the journal entries at the maturity of the bond? The bonds have semiannual interest, and the company uses the straight-line method of discount amortization
What will be an ideal response
Interest Expense 260
Cash ($5,000 x 10% x 1/2 ) 250
Discount on Bonds Payable ($5,000 x 2%) / 10 10
Bond Payable 5,000
Cash 5,000
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Harvest Corporation's capital stock at December 31 consisted of the following: (a) Common stock, $2 par value; 100,000 shares authorized, issued, and outstanding. (b) 10% noncumulative, nonconvertible preferred stock, $100 par value; 1,000 shares authorized, issued, and outstanding. Harvest's common stock, which is listed on a major stock exchange, was quoted at $4 per share on December 31
Harvest's net income for the year ended December 31 was $50,000 . The yearly preferred dividend was declared. No capital stock transactions occurred. What was the price- earnings ratio on Harvest's common stock at December 31? a. 6 to 1 b. 8 to 1 c. 10 to 1 d. 16 to 1
Takt time is the cycle time needed to match the rate of production to the rate of sales
Indicate whether the statement is true or false
Use the following information from the current year financial statements of a company to calculate the ratios below:(a) Current ratio.(b) Accounts receivable turnover. (Assume the prior year's accounts receivable balance was $100,000.)(c) Days' sales uncollected.(d) Inventory turnover. (Assume the prior year's inventory was $50,200.)(e) Times interest earned ratio.(f) Return on common stockholders' equity. (Assume the prior year's common stock balance was $480,000 and the retained earnings balance was $128,000.)(g) Earnings per share (assuming the corporation has a simple capital structure, with only common stock outstanding).(h) Price earnings ratio. (Assume the company's stock is selling for $26 per share.)(i) Divided yield ratio. (Assume that the company paid $1.25 per share in cash
dividends.)Income statement data:?Sales (all on credit) $1,075,000Cost of goods sold575,000Gross profit on sales $ 500,000Operating expenses305,000Operating income$ 195,000Interest expense20,400Income before taxes$ 174,600Income taxes74,000Net income$ 100,600Balance sheet data:?Cash$ 38,400Accounts receivable120,000Inventory56,700Prepaid Expenses24,000Total current assets$239,100Total plant assets708,900Total assets$948,000Accounts payable$ 91,200Interest payable4,800Long-term liabilities204,000Total liabilities$300,000Common stock, $10 par480,000Retained earnings168,000Total liabilities and equity$948,000 What will be an ideal response?
The Canadian subsidiary of a U.S. company reported cost of goods sold of 50,000 C$, for the current year ended December 31. The beginning inventory was 15,000 C$, and the ending inventory was 10,000 C$. Spot rates for various dates are as follows: Date beginning inventory was acquired$1.08=1C$ Rate at beginning of the year$1.10=1C$ Weighted average rate for the year$1.12=1C$ Date ending inventory was acquired$1.13=1C$ Assuming the U.S. dollar is the functional currency of the Canadian subsidiary, the remeasured amount of cost of goods sold that should appear in the consolidated income statement is
A. $50,000. B. $55,300. C. $56,500. D. $56,000.