Your Questions About Stocks And Bonds 2012

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Chris asks…

Prepare a statement of cash flows for the Crosby Corporation. Follow the general?

Preparing a cash flow and answer the following questions?
Prepare a statement of cash flows for the Crosby Corporation.

CROSBY CORPORATION
Income Statement
For the Year Ended December 31, 2008
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,200,000
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,300,000
Gross profits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000
Selling and administrative expense . . . . . . . . . . . . . . . . . . . . 420,000
Depreciation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150,000
Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 330,000
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90,000
Earnings before taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 240,000
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000

CROSBY CORPORATION
Income Statement
For the Year Ended December 31, 2008
Earnings after taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160,000
Preferred stock dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000
Earnings available to common stockholders . . . . . . . . . . . . . $ 150,000
Common shares outstanding . . . . . . . . . . . . . . . . . . . . . . . . 120,000
Earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.25

Statement of Retained Earnings
For the Year Ended December 31, 2008
Retained earnings, balance, January 1, 2008 . . . . . . . . . . . . . . . . . . . . $500,000
Add: Earnings available to common stockholders, 2008 . . . . . . . . . . 150,000
Deduct: Cash dividends declared and paid in 2008 . . . . . . . . . . . . . 50,000
Retained earnings, balance, December 31, 2008 . . . . . . . . . . . . . . . . . $600,000

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 250,000 $ 440,000
Notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000 400,000
Accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000 50,000
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . 720,000 890,000
Long-term liabilities:
Bonds payable, 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000 120,000
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 790,000 1,010,000
Comparative Balance Sheets
For 2007 and 2008
Year-End
2007
Year-End
2008
Assets
Current assets:
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 70,000 $ 100,000
Accounts receivable (net) . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000 350,000
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 410,000 430,000
Prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50,000 30,000
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 830,000 910,000
Investments (long-term securities) . . . . . . . . . . . . . . . . . . . 80,000 70,000
Plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000 2,400,000
Less: Accumulated depreciation . . . . . . . . . . . . . . . . . . . 1,000,000 1,150,000
Net plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000,000 1,250,000
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,910,000 $2,230,000
Stockholders’ equity:
Preferred stock, $100 per value . . . . . . . . . . . . . . . . . . . . . . 90,000 90,000
Common stock, $1 par value . . . . . . . . . . . . . . . . . . . . . . . . 120,000 120,000
Capital paid in excess of par . . . . . . . . . . . . . . . . . . . . . . . . 410,000 410,000
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500,000 600,000
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . 1,120,000 1,220,000
Total liabilities and stockholders’ equity . . . . . . . . . . . . . . . . . . $1,910,000 $2,230,000

28. Describe the general relationship between net income and net cash flows from
operating activities for the firm.
29. Has the buildup in plant and equipment been financed in a satisfactory manner?
Briefly discuss.

STUDENT261@YAHOO.COM

financi4 answers:

Hope this helps:
http://www.cliffsnotes.com/study_guide/Preparing-the-Statement-Indirect-Method.topicArticleId-21248,articleId-21207.html

Donald asks…

Can somebody please help me, I am sick and need help Preparing a statement cash flow for Crosby Corporation.?

Here is what I have:
CROSBY CORPORATION
Income Statement
For the Year Ended December 31, 2008
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,200,000
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,300,000
Gross profits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000
Selling and administrative expense . . . . . . . . . . . . . . . . . . . . 420,000
Depreciation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150,000
Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 330,000
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90,000
Earnings before taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 240,000
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000
6 days ago
Additional Details
CROSBY CORPORATION
Income Statement
For the Year Ended December 31, 2008
Earnings after taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 160,000
Preferred stock dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000
Earnings available to common stockholders . . . . . . . . . . . . . $ 150,000
Common shares outstanding . . . . . . . . . . . . . . . . . . . . . . . . 120,000
Earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.25
5 days ago

Statement of Retained Earnings
For the Year Ended December 31, 2008
Retained earnings, balance, January 1, 2008 . . . . . . . . . . . . . . . . . . . . $500,000
Add: Earnings available to common stockholders, 2008 . . . . . . . . . . 150,000
Deduct: Cash dividends declared and paid in 2008 . . . . . . . . . . . . . 50,000
Retained earnings, balance, December 31, 2008 . . . . . . . . . . . . . . . . . $600,000
5 days ago

Comparative Balance Sheets
For 2007 and 2008
Year-End
2007
Year-End
2008
Assets
Current assets:
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 70,000 $ 100,000
Accounts receivable (net) . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000 350,000
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 410,000 430,000
Prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50,000 30,000
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 830,000 910,000
Investments (long-term securities) . . . . . . . . . . . . . . . . . . . 80,000 70,000
Plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000 2,400,000
Less: Accumulated depreciation . . . . . . . . . . . . . . . . . . . 1,000,000 1,150,000
Net plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000,000 1,250,000
Total assets . .
5 days ago

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 250,000 $ 440,000
Notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,000 400,000
Accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000 50,000
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . 720,000 890,000
Long-term liabilities:
Bonds payable, 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000 120,000
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 790,000 1,010,000

financi4 answers:

I’ve sent the file to that address you gave me.

Daniel asks…

Accounting homework problem! PLEASE HELP!?

Presented below are three independent situations.

1.Wakarusa Corporation retired $126,900 face value, 14% bonds on June 30, 2012, at 105. The carrying value of the bonds at the redemption date was $115,110. The bonds pay semiannual interest, and the interest payment due on June 30, 2012, has been made and recorded.

2.Pin Oak Inc. retired $141,400 face value, 15% bonds on June 30, 2012, at 96. The carrying value of the bonds at the redemption date was $142,880. The bonds pay semiannual interest, and the interest payment due on June 30, 2012, has been made and recorded.

3.Mishawaka Company has $83,220, 9%, 12-year convertible bonds outstanding. These bonds were sold at face value and pay semiannual interest on June 30 and December 31 of each year. The bonds are convertible into 35 shares of Haas $7 par value common stock for each $1,000 worth of bonds. On December 31, 2012, after the bond interest has been paid, $10,000 face value bonds were converted. The market value of Haas common stock was $42 per share on December 31, 2012.

Instructions
For each independent situation above, prepare the appropriate journal entry for the redemption or conversion of the bonds.

financi4 answers:

I think you should visit ehomeworksolution.com and post ur question on site as they provides email based homework and assignment work help accounting and many more subjects.

Robert asks…

Filing a back dated quit claim in Georgia an Medicaid?

My grandparents quit claimed their house to me in 2005. My grandmother is legally blind, but didn’t have any other illnesses at the time (in 2005). My grandfather was in the early stages of dementia. The decided it would be best to sign the house over to me at the time. I didn’t immediately file the quit claim. Now 6 1/2 years later, I’m told I need to file the quit claim. My grandfather passed away in 2006. My grandmother now has Alzheimer’s. I’ve been my grandmother sole caregiver since my grandfather passed away.

Q1: Can I still go and file the quit claim NOW (in 2012)? Or has it “expired”?

Q2: If my grandmother needs nursing home care (because I can’t continue caring for her at home as her Alzheimer’s progresses), will Medicaid try to take the house to use as payment when we apply (because I’m now filing the quit claim, even though it was signed, notarized and dated in 2005)? As of right now my grandmother gets $940 a month from SSI, and she doesn’t have any other assets (i.e. stocks, bonds, CDs, mutual funds, etc.)

Though I’d ultimately want her to stay at home, I can’t afford to have someone come and care for her. And Medicaid nor Medicare will cover that expense. I just want to know how to proceed when the time comes.

Thanks in advance for all answers.

financi4 answers:

When you say “file”, I assume you mean “recorded” right? In most states a Quitclaim Deed need not be recorded to be valid however it is generally required in order for the deed to be binding on a third party. Do get it recorded, the list of unfortunate things that could happen is endless.

Michael asks…

NEED HELP WITH MICRO-ECONOMICS HOMEWORK!?

I need help with my micro economics homework. I don’t quite understand it. I have three problems that i need to do. They are dealing with Firms, Bonds, Stocks & Price, Bonds, Stocks. Hopefully you can be of some help. Here’s the questions:

Before the 2008 season, the New York Yankees signed second baseman Robinson Cano to a contract that would pay him the following amounts: $3 million for the 2008 season, $6 million for the 2009 season $9 million for the 2010 season, $10 mill for 2011, with an option for $14 mill for 2012 and $15mill for 2013. Assume that Cano plays all six seasons for the Yankees and that he recieves each of his six seasonal salaries as a lump-sum payment at the end of the season he recieves he 2008 salary one year after he signed the contract.
a. Some newspaper reports described Cano as having signed a $57 mill contract with the Yankees. Do you agree that $57 mill was the value of this contract? Breifly Explain
b. What was the percent value of Cano’s contract at the time he signed it (assuming an interest rate of 10 percent)?
c. If you use an interest rate of 5 percent, what was the present value of Cano’s contract?

A winner of the Pennsylvania Lottery was given the choice of recieving $18 million at once of $1,4400,000 per year for 25 years.
a. At an interest of 10 percent what would be the present vallue of the 25 payments?
b. At interest rate of 5 percent what would be the present value of the 25 payments?
c. What interest rate would make the present value of the 25 payments equal to the one payment of $18 million?

thanks for all the help that i hope i will recieve.

financi4 answers:

Hint: Use I = prt or A = P(1 + r)^t to solve that problem.

Good luck!

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