I have attached the questions. There are five of them. I will issue a tip.
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GB 518 Unit 5 Assignment
Student:
0
Exercise 9-4
Start
Term of
Maturity
Date
Note
Date
Part
1
Maturity date Computation =
30-Dec-99
<--There is no Check Date for Part 1.
.
Part
2a.
Date
Description
Dr
Cr
15-May Cash
Notes Payable
Try again
Borrowed cash - issued note.
Part
2b.
Date
Description
Dr
Cr
14-Jul Interest Expense*
Notes Payable
Cash
Try again
Repaid note plus interest.
* Principal
x Interest rate
12%
x Fraction of year
60/360
Total interest
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9-4
Perfect Systems borrows $94,000 cash on May 15, 2011, by signing a 60-day, 12% note.
1.
On what date does this note mature?
2.
Suppose the face value of the note equals $94,000, the principle of the loan.
Prepare
the journal entries to record (a) issuance of the note and (b) payment of the note at
maturity.
10-1
On January 1, 2011, Kidman Enterprises issues bonds that have a $1,700,000 par value,
mature in 20 years, and pay 9% interest semiannually on June 30 and December 31.
The
bonds are sold at par.
1.
How much interest will Kidman pay (in cash) to the bondholders every six months?
2.
Prepare journal entries to record (a) the issuance on bonds on January 1, 2011; (b) the
first interest payment on June 30, 2011; and (c) the second interest payment on
December 31, 2011.
3.
Prepare journal entry for issuance assuming the bonds are issued at (a) 98 and (b) 102.
10-16
Ramirez Company is considering a project that will require a $500,000 loan.
It presently has
total liabilities of $220,000, and total assets of $620,000.
1.
Compute Ramirez’s (a) present debt-to-equity ratio and (b) the debt-to-equity ratio
assuming it borrows $500,000 to fund the project.
2.
Evaluate and discuss the level of risk involved if Ramirez borrows the funds to pursue
the project.
11-2
Prepare the journal entry to record Channel One Company’s issuance of 100,000 shares of
$0.50 per value common stock assuming the shares sell for:
a.
$0.50 cash per share.
b.
$2 cash per share.
11-15
Compute the price-earnings ratio for each of these four separate companies. Which stock might
an analyst likely investigate as being potentially undervalued by the market? Explain.
Company
Earnings per share
Market Value per share
1
$10.00
$166.00
2
$9.00
$90.00
3
$6.50
$84.50
4
$40.00
$240.00
