CLASS / COURSE: Accounting

QUESTION DESCRIPTION:

1.  Sporting Goods Company purchased Outdoor Goods Company for $600,000 cash.  A schedule of the market values of Outdoor Good's assets and liabilities as of the purchase date follows:

2.  On May 1, Lenny Corporation purchased for $700,000 a tract of land on which a warehouse and office building were located.  The following data were collected concering the property:

3.  What is the market value of each of the following bond issues?

4.  Information related to your companies bond issuance on 1/1/12 is below:  Calculate the PV of maturity value, PV of annuity, total issue price, and the discount or premium.  Finally, complete the amortization schedule below.

5.  Anderson Company paid dividends at the end of each year as follows:

6.  On January 1, 2011, Buer Company issued 10 year bonds on $500,000 at 102.  Interest is payable on January 1 and July 1 at 10%.  On April 1, 2011, Buer Company reacquires and retires 50 of its own $1,000 bonds at 98 plus accrued interest.  The fiscal period for Buer Company is the calendar year.

7. During 2012, Aerogem received interest from Mirkwood and the U.S. Treasury totaling $3,630.  Dividends received on the stock held amounted to $1,760.  During November 2012, Aerogem sold 200 shares of the Gimli stock at $17 per share and 250 shares of the Glorfindel stock at $19 per share.

8.  Habenero Company is authorized to issue 100,000 shares of $2 par value common stock.  Habenero has the following transactions:

 

Please check full assignment in attached excel file. 

SOLUTION DESCRIPTION: Completed Solution is attached. Click on Buy button and then download file to get full solution.

SUBJECTS / CATEGORIES:
1. Finance
2. Financial Management
3. Accounting

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