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Phoenix [80]
3 years ago
14

Myriad Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $320 million on January 1, 2018, for $283,294,7

20. The bonds mature on December 31, 2027 (10 years). For bonds of similar risk and maturity the market yield is 12%. Interest is paid semiannually on June 30 and December 31.
Indicate the amounts reported on the financial statements below for the year ending December 31, 2018.


Balance Sheet:

Net Liability _______

Income Statement:

Interest Expense _________

Statement of Cash Flows:

Operating ________

Investing ________

Financing ________

Business
1 answer:
Olegator [25]3 years ago
4 0

Answer:

<u>Balance sheet:</u>

Net liability = $285,349,947

<u>Income statement:</u>

Interest expense = $34,055,227

Statement of cash flows:

Operating: $32,000,000

Investing: Nil

Financing: $283,294,720

Explanation:

The workings are attached:

<u>Balance sheet</u>

Net liability = carrying value at the end of the year = $285,349,947

This will appear in the balance sheet as net liability.

<u>Income statement:</u>

Interest expense will be appearing in the income statement.

Interest expense = $32,000,000

<u>Statement of cash flows:</u>

<u>Operating cash flow:</u>

Cash flow from operating activities (CFO) indicates the amount of money a company brings in from its ongoing, regular business activities, such as manufacturing and selling goods or providing a service to customers. It is the first section depicted on a company's cash flow statement.

Operating: It is the interest expense = $32,000,000

Investing cash flow:

Cash flow from investing activities is one of the sections on the cash flow statement that reports how much cash has been generated or spent from various investment-related activities in a specific period. Investing activities include purchases of physical assets, investments in securities, or the sale of securities or assets.

Investing: This will be nil, as this is not an investment

Financing cash flow

Cash flow from financing activities (CFF) is a section of a company's cash flow statement, which shows the net flows of cash that are used to fund the company. Financing activities include transactions involving debt, equity, and dividends

Financing: This will be the $283,294,720

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2 years ago
"Prepare the issuer's journal entry for each of the following separate transactions.
Charra [1.4K]

Answer:

Dr cash        $303,500

Cr common stock                                      $133,500

Cr paid in capital in excess of par value $170,000

Second issue of shares:

Dr cash       $74,000

Cr common stock  $74,000

Explanation:

The cash received from the issuance of 44,500 at $3 par value is $303,500 which is to debited to cash and credited to common stock for$133,500 ($3*44,500) while the balance of $170,000  ($303,500-$133,500) is credited to paid in capital in excess par value account.

On the issuance of no par value common stock for cash of $74,000,the cash account is debited as usual with $74,000 while the common stock account is credited with same amount.

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3 years ago
Fill in the missing word to complete the following statement based on the information in this lesson.
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I think d. sorry if i'm wrong
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What does an organization use to manage its operations across several industries and several markets simultaneously? a. Tactical
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The strategy an organization employs to manage its operations across several industries and several markets simultaneously is called Corporate-level strategy.

<h3>What is the Corporate-level strategy?</h3>

A corporate-level strategy is a decision made to achieve a competitive and strategic advantage by selecting and managing a diverse set of firms that compete in a variety of sectors or product marketplaces.

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Therefore, we can conclude that the Corporate-level strategy is the strategy that an organization employs to manage its operations across several industries.

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sarah has two dependent children who attend sun valley day care while she is at work. she will claim a $1,200 credit for child a
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<h3> What amount of deduction is necessary to provide a tax benefit that is equal to that provided by the child care credit if Sarah is in the 24% marginal income tax bracket?</h3>

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