A bond issue with a face amount of $501,000 bears interest at the rate of 10%. The current market rate of interest is 11%. These bonds will sell at a price that is:
A) The answer cannot be determined from the information provided
B)Less than $501,000.
C)Equal to $501,000.
D)More than $501,00
Rachel’s Recordings reported net income of $270,000. Beginning balances in accounts receivable and accounts payable were $20,000 and $22,000 respectively. Ending balances in these accounts were $12,500 and $29,000, respectively. Assuming that all relevant information has been presented, Rachel’s cash flows from operating activities would be:
Assume net income was $160,000, depreciation expense was $6,200, accounts receivable increased by $11,000, and accounts payable increased by $2,900. The amount of cash flows from operating activities is:
In 2012, Hope Company incurred sales on account of $183,000. The company also has the following information:
|December 31, 2011||December 31, 2012|
What is the amount of cash received from customers for Hope Company in 2012?A)$149,000
Given the information below, what is the company’s gross profit?
|Cost of Goods Sold||$235,000|
On December 2, Coley Corp. reacquired 1,800 shares of its $3 par value common stock for $25 each. On December 20, Coley Corp. reissued 1,400 shares for $13 each. Which of the following is correct regarding the journal entry for the reissued shares?
A)Debit Cash $23,400
The following information pertains to Alpha Computing at the end of 2012: