Bonita Corp. owes Windsor Corp. a 10-year, 10% note in the amount of $356,400 plus $35,640 of accrued interest. The note is due today, December 31, 2020. Because Bonita Corp. is in financial trouble, Windsor Corp. agrees to forgive the accrued interest, $32,400 of the principal, and to extend the maturity date to December 31, 2023. Interest at 10% of revised principal will continue to be due on 12/31 each year. Assume the following present value factors for 3 periods.

21/4% 23/8% 21/2% 25/8% 23/4% 3%
Single sum 0.93543 0.93201 0.92859 0.92521 0.92184 0.91514
Ordinary annuity of 1 2.86989 2.86295 2.85602 2.84913 2.84226 2.82861

Click here to view factor tables.
Compute the new effective-interest rate for Bonita Corp. following restructure. (Hint: Find the interest rate that establishes approximately $392,040 as the present value of the total future cash flows.) (Round effective interest rate to 3 decimal places, e. g. 4.657%.)

Effective-interest rate
%

Prepare a schedule of debt reduction and interest expense for the years 2020 through 2023. (Round answers to 0 decimal places, e. g. 38,548.)

SCHEDULE OF DEBT REDUCTION
AND INTEREST EXPENSE AMORTIZATION

Date

Cash
Paid

Interest
Expense

Premium
Amortized
Carrying
Amount of
Note
12/31/20 $
$
$
$
12/31/21
12/31/22
12/31/23
12/31/23

Compute the gain or loss for Windsor Corp. and prepare a schedule of receivable reduction and interest revenue for the years 2020 through 2023. (Round present value factor calculations to 5 decimal places, e. g. 1.25124 and the final answers to 0 decimal places e. g. 58,971.)

The gain or loss for Windsor Corp. $

SCHEDULE OF DEBT REDUCTION
AND INTEREST EXPENSE AMORTIZATION

Date

Cash
Received

Interest
Revenue
Change in
Carrying
Amount
Carrying
Amount of
Note
12/31/20 $
$
$
$
12/31/21
12/31/22
12/31/23
12/31/23

Prepare all the necessary journal entries on the books of Bonita Corp. for the years 2020, 2021, and 2022. (Round answers to 0 decimal places, e. g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date
Account Titles and Explanation
Debit
Credit
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2022

Prepare all the necessary journal entries on the books of Windsor Corp. for the years 2020, 2021, and 2022. (Round answers to 0 decimal places, e. g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date
Account Titles and Explanation
Debit
Credit
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2022

This problem has been solved! see the answerchapter 19 problem #8. quality and financial control (connect, perform)part one: geometrica designs and builds domes and space frames for large buildings. while the company had developed quality standards over time to respond to different client problems and training needs, it lacked a unified quality system, and its global client base wanted assurance that geometrica met an established international standard for quality. which of the following was an appropriate step for this company to take? a) reform its accounting and financial reporting systems to comply with sarbanes-oxleyb) establish and document a quality management system to comply with iso 9000management at workyou are the new fleet manager at xpressship, a package delivery company. as your first project, your boss has asked that you to look into implementing an electronic monitoring system for the fleet of 2,000 trucks your company owns. a recent internal audit on maintenance and repair costs on the company’s vehicles revealed while maintenance was performed regularly on the trucks, mileage or use had not been taken into account. this resulted in approximately $20,000 of unneeded repairs. you know that telematics have been used by other companies with fleets of cars or trucks and it will allow your company to not only track mileage and use, but also part replacement needs, vehicle oil pressure, and drivers’ speed and real time location. tracking these items can reduce maintenance costs while improving efficiency. you find that a simple computer can be installed in each vehicle. when the drivers return at the end of the day, the telematics information from each vehicle will be uploaded to a master computer where a software program will generate a report with results on the variables you have selected. early one morning as you are getting a cup of coffee, a few drivers that have been with the company for many years approach you with some concerns. eldon, the most senior driver says, “i heard you’re installing some type of computer to track our driving. my buddy works over at parcel and post package delivery and he said they’ve got these computers, too. he said managers are writing people up and firing drivers for speeding or not wearing seat belts. are you going to do that to us, too? ”part two: as a manager, which of the following statements would be effective in maintaining a positive relationship with company drivers? check all that apply. a) at this time, xpressship will be using telematics to monitor maintenance and repair needs, not drivers’ motoring habitsb) although the company isn’t doing so now, when xpressship begins to monitor driver motoring habits, the company will encourage them to keep a separate daily log where they can document any unusual circumstancesc) while xpressship could monitor things like speed, location, and idle time, the company trusts their drivers and will not be using that data in disciplinary decisionsd) xpressship executives are happy with their technology and believe that implementation is ideal for your organization

Down under products, ltd., of australia has budgeted sales of its popular boomerang for the next four months as follows: unit salesapril 74,000may 85,000june 114,000july 92,000the company is now in the process of preparing a production budget for the second quarter. past experience has shown that end-of-month inventory levels must equal 10% of the following month’s unit sales. the inventory at the end of march was 7,400 units. required: prepare a production budget by month and in total, for the second quarter.

1.     regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool. student c   incorrect