The following data were selected from the records of Sykes Company for the year ended December 31, Current Year.

A company sold PP&E for $200 cash. Prior to the sale, the net book value of the PP&E on the financial statements was $24

madam [21]

Answer:

The operating cash flow in this transaction is zero

Explanation:

Please see attachment.

6 0

3 years ago

Garnett Co. shipped inventory on consignment to Hart Co. that originally cost $50,000. Hart paid $1,200 for advertising that was

Yuki888 [10]

Answer:

The answer is: Garnett Co.'s net income is $7,600

Explanation:

To determine the net income we must first calculate the cost of goods sold and the commissions paid:

COGS = $50,000 x 40% = $20,000
Commissions = $32,000 x 10% = $3,200

Now we can elaborate the following income statement for Garnett Co.

Total sales $32,000

COGS ($20,000)

Commissions ($3,200)

<u>Advertising expense ($1,200) </u>

Net income $7,600

8 0

2 years ago

Wyatt Oil is contemplating issuing a 20-year bond with semiannual coupons, a coupon rate of 7%, and a face value of $1000. Wyatt

enyata [817]

Complete question:

Security Term (years) Yield (%)

Treasury 2 0 5.5%

AAA Corporate 2 0 7.0%

BBB Corporate 20 8.0%

B Corporate 2 0 9.6%

Wyatt Oil is contemplating issuing a 20-year bond with semiannual coupons, a coupon rate of 7%, and a face value of $1000. Wyatt Oil believes it can get a BBB rating from Standard and Poor's for this bond issue. If Wyatt Oil is successful in getting a BBB rating, then the issue price for these bonds would be closest to:

A) $891 B) $901 C) $1,000 D) $800

Answer:

If Wyatt Oil is successful in getting a BBB rating, then the issue price for these bonds would be closest to: $901

Solution:

Given,

FV = 1000,

N = 40,

I = 4,

PMT = 35

Compute PV ,

PV = $FV \frac{1}{( 1+r)^{n} }$

PV = 901.04

If Wyatt Oil is successful in getting a BBB rating, then the issue price for these bonds would be closest to: $901

5 0

2 years ago

When putting together your personal budget, you find that your budget has a deficit. Which is the BEST way to balance your budge

ki77a [65]

Answer:

The correct answer is letter "C": Cut your expenses by an amount greater than your deficit.

Explanation:

In case there is a deficit in your budget, it means your expenses are higher than your net income. An adjustment must be made in such circumstances. To bring back the balance in your budget, <em>you should cut your expenses by an amount higher than the amount of the deficit</em>. Otherwise, you could increase your income but keeping your expenses at the same level.

3 0

3 years ago

could somebody help me with this i know it is finance but i really need help with it...... . Regal Financial Institution special

musickatia [10]

The answer to the question above appears to be ''savings and loan''.

5 0

2 years ago