Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / 1

1

Accounting

1. SALE OF BONDS at Discount a)WHAT IS THE PRICE OF A 833k Bond , 5 years @7% Interest, MKT rate 11%, interest paid yearly; Journalize the sale on 1-1-2015. What is Bond selling at “99, 98, 97, for instance?" PRESENT VALUE OF $1 FOR FIVE YEARS at 11% .59345 Present value of annuity for five years at 11% 3.6959 b) Journalize the payment of interest expense for the first three years;12-31-2015, 12-31-2016, and 12-31-2017, amortizing the premium/discount using the straight-line rate of interest. c) Journalize the payment of interest expense for the first three years;12-31- 2015, 12-31-2016, and 12-31-2017, amortizing the premium/discount using the effective rate of interest. d) ON 1-1-2018, the Bond was converted to 10k common stock shares at $16/share market value. The par value of the stock is $10/share. Journalize this transaction using the results of amortization in "b)".

2. 

Transic Corporation has the following financial data for 2016 and 2017.

  2017 2016
ASSETS    
Current Assets:    
Cash $ 48,000 $ 14,000
Marketable Securities 9,000 13,000
Accounts Receivable 35,000 24,000
Other Current Assets 15,000 18,000
Total Current Assets 107,000 69,000
Fixed Assets (net) 140,000 130,000
Total Assets $247,000 $199,000
     
LIABILITIES    
Current Liabilities $ 72,000 $ 52,000
Long-term Liabilities 50,000 37,000
Total Liabilities $122,000 $ 89,000
     
Total Stockholders' Equity $125,000 $110,000
     
Total Liabilities And Stockholders' Equity $247,000 $199,000

What is Transic's current ratio for 2017?

a.1.49

b.2.14

c.0.88

d.0.21

Option 1

Low Cost Option
Download this past answer in few clicks

2.89 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE

Related Questions