Answer:
The issue price of the bond is $44,330,000
Explanation:
The issue price of the bond can be computed using the pv formula in excel,which is given as =-pv(rate,nper,pmt,fv)
rate is the semi-annual yield to maturity on the bond which is 7%/2=3.5%
nper is the number of coupon payments the bond would make before maturity,which 15 years multiplied by 2=30
pmt is the semi-annual interest payment of the bond i.e 8%/2*$40.6 million=$1.624 million
The fv is the face value of the bond repayable at maturity which is $40.6 million
=-pv(3.5%,30,1.624,40.6)
pv=$44.33 million
Answer:
d. have the right to receive dividends only in the years the board of directors declares dividends.
Explanation:
Preferred shareholders<u> have the right to receive dividends in the priority to the common shareholders of the company unit. </u> In other words, if there is sufficient funds with the company to declare dividends both to preferred and common shareholders, then in that case, preferred shareholders will be entitled the right to receive dividends first, and remaining amount will be distributed to common shareholders. Only that, they have this right only when the board of directors declares dividends.
Answer:
Adjustments for enterprise fund-basis statements from their original modified accrual basis would not be included in the required reconciliation of the Governmental Fund Balance Sheet to the governmental activities Statement of Net Position.
Answer:
can you put a picture might be easier to read it