Answer: 14.59%
Explanation:
The Internal Rate of Return(IRR) is the discount rate that brings the Net Present Value to zero. It is used to decide the viability of projects. The project is generally considered viable if the Cost of capital is less than the IRR.
You can use Excel to calculate the IRR;
= IRR(-15,800,6,500,7,800,6,300)
From the picture attached you can see that the IRR is 14.59%
Answer:
It was raised $236,009.52
Explanation:
The YTM is 6.43
so we need to calculate the market price of the bond using this rate.
Market price will be equal to the cash raised from the sale.
1st annuity of 20 years semiannual payment of
275,000 x 0.0599/2 = 8236.25
PV = 183,932.289662
2nd we have to calculate the prsent value of the redeemption of the bond
PV = 79,0773.23051
Now we add both values to get the cash proceeds from the bond
79,0773.20351 + 183,932.289662 = 236,009.52
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Answer:
a) Net income is overstated
Explanation:
As we already know that
To record the accrued wages, the journal entry is
Wages expense XXXXX
To wages payable XXXXX
(Being the wages expense is recorded)
This entry indicates the increases in expenses and decrease in net income but if this entry is not made or forgot to make than the condition would be reverse i.e expenses understated and net income overstated. On the other side, the liabilities are overstated i.e liabilities understated in case the entry is not made