answers to acct3312 test1

# answers to acct3312 test1 - Paid in Capital Excess 2560 8...

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Problem 1 Cash Interest Amortizat \$24,161,240 Yr1 \$1,875,000 \$1,932,899 \$57,899 \$24,219,139 Yr2 \$1,875,000 \$1,937,531 \$62,531 \$24,281,670 Yr3 \$1,875,000 \$1,942,534 \$67,534 \$24,349,204 10 points Cash \$24,161,240 5 points Discount on Bond \$838,760 Bond Payable \$25,000,000 Interest Expense \$1,937,531 5 points Discount on Bond \$62,531 Cash \$1,875,000 25000000 1.02 \$25,500,000 \$24,349,204 Loss \$1,150,796 10 points Problem 2 Treasury Stock 24000 5 points Cash 24000 Cash 2520 5 points Treasury Stock 2400 Contributed Capital - TS 120 Cash 2240 10 points Contributed Capital - TS 120 Retained Earnings 40 Treasury Stock 2400 Common Stock 16000 10 points
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Unformatted text preview: Paid in Capital Excess 2560 8 Retained Earnings 640 Treasury Stock 19200 Problem 3 Net Income 280000 Wt. Avg 200000 0.42 1.1 91666.66667 220000 0.5 1.1 121000 242000 0.083333333 1 20166.66667 5 points 232833.3333 Basic =280000/232833.333 1.20257695 5 points Warrants 16000 20 320000 12800 3200 5 points Bonds =(.05*300000*.7)/(300*50) 0.7 5 points Preliminary =280000/(232833.333+3200) 1.18627313 Diluted =(280000+(.05*300000*.7))/(232833.333+3200+(300*50)) 1.15721684 2 points per number above (10 points)...
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## This note was uploaded on 03/27/2012 for the course ACCT 3312 taught by Professor Staff during the Spring '08 term at Texas A&M University, Corpus Christi.

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