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Exercise 14-12 On January 2, 2012, Skysong Corporation issued $2,050,000 of 10%

Exercise 14-12 On January 2, 2012, Skysong Corporation issued $2,050,000 of 10% bonds at 96 due December 31, 2021. Interest on the bonds is payable annually each December 31. The …

Exercise 14-12 On January 2, 2012, Sweet Corporation issued $1,350,000 of 10% bo

Exercise 14-12 On January 2, 2012, Sweet Corporation issued $1,350,000 of 10% bonds at 99 due December 31, 2021, Interest on the bonds is payable annually each December 31, The di…

Exercise 14-12 On January 2, 2012, Vaughn Corporation issued $1,200,000 of 10% b

Exercise 14-12 On January 2, 2012, Vaughn Corporation issued $1,200,000 of 10% bonds at 96 due December 31, 2021, Interest on the bonds is payable annually each December 31. The d…

Exercise 14-12 Panza Corporation experienced a fire on December 31, 2020, in whi

Exercise 14-12 Panza Corporation experienced a fire on December 31, 2020, in which its financial records were partially destroyed. It has been able to salvage some of the records …

Exercise 14-12 Pronghorn Company has two production departments, Fabricating and

Exercise 14-12 Pronghorn Company has two production departments, Fabricating and Assembling. At a department managers meeting, the controller uses flexible budget graphs to explai…

Exercise 14-13 Cheyenne, Inc. had outstanding $6,420,000 of 11% bonds interest p

Exercise 14-13 Cheyenne, Inc. had outstanding $6,420,000 of 11% bonds interest payable July 31 and January 31 due in 10 years. On July 1 it issued $8,590,000 of 11%, 15-year bonds…

Exercise 14-13 Coronado, Inc. had outstanding $6,200,000 of 11% bonds (interest

Exercise 14-13 Coronado, Inc. had outstanding $6,200,000 of 11% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $9,650,000 of 10%, 15-year bo…

Exercise 14-13 Martinez, Inc. had outstanding $5,770,000 of 12% bonds (interest

Exercise 14-13 Martinez, Inc. had outstanding $5,770,000 of 12% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $8,800,000 of 10%, 15-year bo…

Exercise 14-13 Preparing a cash budget LO 14-5 The accountant for Rooney’s Dress

Exercise 14-13 Preparing a cash budget LO 14-5 The accountant for Rooney’s Dress Shop prepared the following cash budget. Rooney’s desires to maintain a cash cushion of $17,000 at…

Exercise 14-13 Trayer Corporation has income from continuing operations of $270,

Exercise 14-13 Trayer Corporation has income from continuing operations of $270,000 for the year ended December 31, 2017. It also has the following items (before considering incom…

Exercise 14-13 Trayer Corporation has income from continuing operations of $290,

Exercise 14-13 Trayer Corporation has income from continuing operations of $290,000 for the year ended December 31, 2017. It also has the folliowing items (before considering inco…

Exercise 14-13 Waterway, Inc. had outstanding $5,460,000 of 11% bonds (interest

Exercise 14-13 Waterway, Inc. had outstanding $5,460,000 of 11% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $9,750,000 of 10%, 15-year bo…

Exercise 14-13 a-c Crane Decorating uses a job order cost system to collect the

Exercise 14-13 a-c Crane Decorating uses a job order cost system to collect the costs of its interior decorating business. Each client's consultation is treated as a separate job.…

Exercise 14-13 a-c Crane Decorating uses a job order cost system to collect the

Exercise 14-13 a-c Crane Decorating uses a job order cost system to collect the costs of its interior decorating business. Each client's consultation is treated as a separate job.…

Exercise 14-13 a-c Crane Decorating uses a job order cost system to collect the

Exercise 14-13 a-c Crane Decorating uses a job order cost system to collect the costs of its interior decorating business. Each client's consultation is treated as a separate job.…

Exercise 14-13 a. Cash Budget July August September Section 1: Cash receipts Beg

Exercise 14-13 a. Cash Budget July August September Section 1: Cash receipts Beginning cash balance $ 50,000 Add cash receipts 180,000 200,000 240,600 Total cash available (a) 230…

Exercise 14-14 (Part level Submission) Ringgold Corporation has outstanding at D

Exercise 14-14 (Part level Submission) Ringgold Corporation has outstanding at December 31, 2014, 46,150 shares of $18 par value, cumulative, 9% preferred stock and 200,200 shares…

Exercise 14-15 Blossom Company had bonds outstanding with a maturity value of $2

Exercise 14-15 Blossom Company had bonds outstanding with a maturity value of $280,000. On April 30, 2017, when these bonds had an unamortized discount of $10,000, they were calle…

Exercise 14-15 Metlock Company had bonds outstanding with a maturity value of $3

Exercise 14-15 Metlock Company had bonds outstanding with a maturity value of $301,000. On April 30, 2017, when these bonds had an unamortized discount of $9,000, they were called…

Exercise 14-15 Straight-Line: Amortization and accrued bond interest expense LO

Exercise 14-15 Straight-Line: Amortization and accrued bond interest expense LO P2 The following Information applies to the questions displayed below Duval Co. Issues four-year bo…

Exercise 14-16 No. Date Account Titles and Explanation Debit Credit January 1, 2

Exercise 14-16 No. Date Account Titles and Explanation Debit Credit January 1, 2014 January 1, 2014 December 31, 2014 December 31, 2014 Exercise 14-16 On January 1, 2014, Ellen Gr…

Exercise 14-16 On January 1, 2017, Blue Company makes the two following acquisit

Exercise 14-16 On January 1, 2017, Blue Company makes the two following acquisitions. The company has to pay 11% interest for funds from its bank. (Round present value factor calc…

Exercise 14-16 On January 1, 2017, Pearl Company makes the two following acquisi

Exercise 14-16 On January 1, 2017, Pearl Company makes the two following acquisitions. The company has to pay 11% interest for funds from its bank. (Round present value factor cal…

Exercise 14-16 Preparing a sales budget and schedule of cash receipts McCarty Po

Exercise 14-16 Preparing a sales budget and schedule of cash receipts McCarty Pointers Inc. expects to begin operations on January 1, 2012; it will operate as a specialty sales co…

Exercise 14-16 Preparing a sales budget and schedule of cash receipts McCarty Po

Exercise 14-16 Preparing a sales budget and schedule of cash receipts McCarty Pointers Inc. expects to begin operations on January 1, 2012; it will operate as a specialty sales co…

Exercise 14-17 Note with unrealistic interest rate; borrower; amortization sched

Exercise 14-17 Note with unrealistic interest rate; borrower; amortization schedule [L014-3] Amber Mining and Milling, Inc., contracted with Truax Corporation to have constructed …

Exercise 14-17 Whispering Winds Corporation had bonds outstanding with a maturit

Exercise 14-17 Whispering Winds Corporation had bonds outstanding with a maturity value of $540,000. On April 30, 2017, when these bonds had an unamortized discount of $10,000, th…

Exercise 14-18 On January 1, 2017, Larkspur Co. borrowed and received $470,000 f

Exercise 14-18 On January 1, 2017, Larkspur Co. borrowed and received $470,000 from a major customer evidenced by a zero-interest-bearing note due in 5 years. As consideration for…

Exercise 14-18 On January 1, 2017, Sunland Co, borowed and received 5480,000 fro

Exercise 14-18 On January 1, 2017, Sunland Co, borowed and received 5480,000 from a major customer evidenced by a zero-interest-bearing note due in 5 years. As consideration for t…

Exercise 14-19 Coronado Company commonly issues long-term notes payable to its v

Exercise 14-19 Coronado Company commonly issues long-term notes payable to its various lenders. Coronado has had a pretty good credit rating such that its effective borrowing rate…

Exercise 14-19 Pronghorn Company commonly issues long-term notes payable to its

Exercise 14-19 Pronghorn Company commonly issues long-term notes payable to its various lenders. Pronghorn has had a pretty good credit rating such that its effective borrowing ra…

Exercise 14-19 The Flounder Transportation Company uses a responsibility reporti

Exercise 14-19 The Flounder Transportation Company uses a responsibility reporting system to measure the performance of its three investment centers: Planes, Taxis, and Limos. Seg…

Exercise 14-2 (Part Level Submission) Knudsen Corporation was organized on Janua

Exercise 14-2 (Part Level Submission) Knudsen Corporation was organized on January 1, 2016. During its first year, the corporation issued 2,050 shares of $50 par value preferred s…

Exercise 14-2 (Part Level Submission) Knudsen Corporation was organized on Janua

Exercise 14-2 (Part Level Submission) Knudsen Corporation was organized on January 1, 2016. During its first year, the corporation issued 1,950 shares of $50 par value preferred s…

Exercise 14-2 (Part Level Submission) Knudsen Corporation was organized on Janua

Exercise 14-2 (Part Level Submission) Knudsen Corporation was organized on January 1, 2016. During its first year, the corporation issued 1,950 shares of $50 par value preferred s…

Exercise 14-2 Condensed data from the income statement for Benton Corporation fo

Exercise 14-2 Condensed data from the income statement for Benton Corporation follow: (a) Using vertical analysis, calculate the percentage of the base amount for each year. (Roun…

Exercise 14-2 Determine the price of bonds in various situations [LO14-2] Comple

Exercise 14-2 Determine the price of bonds in various situations [LO14-2] Complete the below table to calculate the price of a $1 million bond issue under each of the following in…

Exercise 14-2 Knudsen Corporation was organized on January 1, 2016. During its f

Exercise 14-2 Knudsen Corporation was organized on January 1, 2016. During its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 108,000 shares …

Exercise 14-2 Knudsen Corporation was organized on January 1, 2016. During its f

Exercise 14-2 Knudsen Corporation was organized on January 1, 2016. During its first year, the corporation issued 1,900 shares of $50 par value preferred stock and 100,000 shares …

Exercise 14-2 Marin Inc. has issued three types of debt on January 1, 2017, the

Exercise 14-2 Marin Inc. has issued three types of debt on January 1, 2017, the start of the company's fiscal year: 1. S11 million, 12-year, 10% unsecured bonds, with interest pay…

Exercise 14-2 Net Cash Provided by Operating Activities L014-2] For the just com

Exercise 14-2 Net Cash Provided by Operating Activities L014-2] For the just completed year, Hanna Company had net income of $49,500. Balances in the company's current asset and c…

Exercise 14-2 Operating data for Navarro Corporation are presented below. 2017 2

Exercise 14-2 Operating data for Navarro Corporation are presented below. 2017 2016 Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net in…

Exercise 14-2 Preparing sales budgets with different assumptions LeDetailed, whi

Exercise 14-2 Preparing sales budgets with different assumptions LeDetailed, which has three regions, is preparing its sales budget. Each division expects a different growth rate …

Exercise 14-20 At December 31, 2017, Riverbed Company has outstanding three long

Exercise 14-20 At December 31, 2017, Riverbed Company has outstanding three long-term debt issues. The first is a $2,020,000 note payable which matures June 30, 2020. The second i…

Exercise 14-20 Installment note; amortization schedule [LO14-3] American Food Se

Exercise 14-20 Installment note; amortization schedule [LO14-3] American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton co…

Exercise 14-20 Kinnion Medical Clinic has budgeted the following cash flows. Jan

Exercise 14-20 Kinnion Medical Clinic has budgeted the following cash flows. January February March Cash receipts$ 100,000 $106,000 $126,000 Cash payments For inventory purchases …

Exercise 14-20 Kinnion Medical Clinic has budgeted the following cash flows. Jan

Exercise 14-20 Kinnion Medical Clinic has budgeted the following cash flows. January February March Cash receipts$ 100,000 $106,000 $126,000 Cash payments For inventory purchases …

Exercise 14-21 Algo A social scientist would like to analyze the relationship be

Exercise 14-21 Algo A social scientist would like to analyze the relationship between educational attainment and salary. He collects the following sample data, where Education ref…

Exercise 14-21 Algo A social scientist would like to analyze the relationship be

Exercise 14-21 Algo A social scientist would like to analyze the relationship between educational attainment and salary. He collects the following sample data, where Education ref…

Exercise 14-21 Marigold Company owes $185,000 plus $16,900 of accrued interest t

Exercise 14-21 Marigold Company owes $185,000 plus $16,900 of accrued interest to Swifty State Bank. The debt is a 10-year, 10% note. During 2017, Marigold’s business deteriorated…