Skysong, Inc. had the following transactions during the current period.Skysong Inc. is considering these two alternatives to finance its construction of a new $1.50 million plant: Issuance of 150,000 shares of common stock at the market price of $10 pershare. Issuance of $1.50 million, 5% bonds at face value. (a1) Complete the table. (Round earnings per share to 2 decimal places, e.g. 2.66.) eTextbook and Media Attempts: 0 of 2 used (a2). Indicate which alternative is preferable. is preferable. Mar.2 Issued 5,100 shares of $5 par value common stock to attorneys in payment of a bill for $30,600 for services performed in helping the company to incorporate. June 12 Issued 65,000 shares of $5 par value common stock for cash of $406,250. July 11Issued 1,000 shares of $100 par value preferred stock for cash at $112 per share. Nov. 28 Purchased 1,500 shares of treasury stock for $60,000. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit accounttitles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)Pharoah Enterprises earns 8% on an investment that pays back $82,500 at the end of each of the next 6 years.Click here to view the factor table.What is the amount Pharoah Enterprises invested to earn the 8% rate of return? (For calculation purposes, use 5 decimal places asdisplayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.)Pharoah Enterprises invested$

ParticularsValueInterest rate (r)8%Payment (pmt)$82,500.00Number of years (nper)6Pharoah enterprises…

Pharoah Enterprises earns 8% on an investment that pays back $82,500 at the end of each of the next 6 years. Click here to view the factor table. What is the amount Pharoah Enterprises invested to earn the 8% rate of return? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Pharoah Enterprises invested $

Pharoah Enterprises earns 8% on an investment that pays back $82,500 at the end of each of the next 6 years. Click here to view the factor table. What is the amount Pharoah Enterprises invested to earn the 8% rate of return? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Pharoah Enterprises invested $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.

Question

Skysong, Inc. had the following transactions during the current period.Skysong Inc. is considering these two alternatives to finance its construction of a new $1.50 million plant: Issuance of 150,000 shares of common stock at the market price of $10 per
share. Issuance of $1.50 million, 5% bonds at face value. (a1) Complete the table. (Round earnings per share to 2 decimal places, e.g. 2.66.) eTextbook and Media Attempts: 0 of 2 used (a2). Indicate which alternative is preferable. is preferable. Mar.
2 Issued 5,100 shares of $5 par value common stock to attorneys in payment of a bill for $30,600 for services performed in helping the company to incorporate. June 12 Issued 65,000 shares of $5 par value common stock for cash of $406,250. July 11
Issued 1,000 shares of $100 par value preferred stock for cash at $112 per share. Nov. 28 Purchased 1,500 shares of treasury stock for $60,000. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account
titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Pharoah Enterprises earns 8% on an investment that pays back $82,500 at the end of each of the next 6 years.
Click here to view the factor table.
What is the amount Pharoah Enterprises invested to earn the 8% rate of return? (For calculation purposes, use 5 decimal places as
displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.)
Pharoah Enterprises invested
$

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