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ACCT 504 Week 5 Homework (E7-15A, E7-19A, E8-20A, E9-23A, E9-29A)
ACCT 504 Week 5 Homework (E7-15A, E7-19A, E8-20A, E9-23A, E9-29A)
E9-23A, E9-29A)
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5-Homework-(E7-15A,-E7-19A,-E8-20A,-E9-23A,-E9-
29A)
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This Tutorial contains Excel Files which can be used to solve for
any values (your Question may have different company name or
values, but that can be solved using Excel file)
E 7-15A
E8-20A
Corp. purchased 10, $1,000, 77%
bonds of Power Source Corporation when the market rate of
interest was 12%. Interest is paid semiannually on the bonds, and
the bonds will mature in ten years. Using the PV function in
Excel Superscript Excel, compute the price Haygood paid (the
present value) on the bond investment. (Assume that all payments
of interest and principal occur at the end of the period. Round your
answer to the nearest cent.)
E9-23A
Assume that Jasper Electronics completed these selected
transactions during March 2014:
a. Sales of $2,100,000 are subject to estimated warranty cost of
2%. The estimated warranty payable at the beginning of the year
was $34,000, and warranty payments for the year totaled $57,000.
b. On March 1, Jasper Electronics signed a 45,000 note payable
that requires annual payments of $9,000 plus 4% interest on the
unpaid balance each March 2.
c. Music For You, Inc., a chain of music stores, ordered $135,000
worth of CD players. With its order, Music For You, Inc., sent a
check for $135,000 in advance, and Jasper shipped $80,000 of the
goods. Jasper will ship the remainder of the goods on April 3,
2014.
d. The March Payroll of $260,000 is subject to employee withheld
income tax of 30,000
and FICA tax of 7.65%. On March 31, Jasper pays employees their
take-home pay and accrues all tax amounts.
E9-29A
Companies that operate in different industries may have very
different financial ratio values. These differences may grow even
wider when we compare companies located in different countries.
(Click the icon to view the financial statements.)
Requirement