DUNT Uata On January 1, 20X4, Charms Corporation sold 10% bonds having a maturity value of $700,000. The market
determined that 12% was the appropriate rate of interest, given the risks that Charms Corporation poses
to bondholders. The bonds are dated January 1, 20X4, mature January 1, 20x9, and pay interest on June 30
and December 31 of each year.
Charms Corporation does not elect to report its liabilities at fair market value. Ignore taxes for this
assignment.
Required:
1- Determine the amount that bondholders (investors) will pay Charms Corporation for these bonds when
the bonds are issued on January 1, 20X4.
2- Prepare an amortization schedule for the bond issue using the effective interest method.
3- Prepare the following 20X4 financial statements for Charms Corporation:
Statement of Cash Flows
Income Statement
“Balance Sheet
4- Prepare the following 20x6 financial statements for Charms Corporation:
Statement of Cash Flows

Prior to its closing, income summary had total debits of $1,190,500 and total credits of $1,476,300. what purpose is served by the income summary account and what is the nature of the entries that resulted in the $1,190,500 and the $1,476,300? the income summary account is used to the accounts. the $1,190,500 represents the , and the $1,476,300 represents . the company had of $ .

When cell phones were first entering the market, they were relatively large and reception was undependable. all cell phones were essentially the same. but as the technology developed, many competitors entered, introducing features unique to their phones. today, cell phones are only a small fraction of the size and weight of their predecessors. consumers can buy cell phones with color screens, cameras, internet access, daily planners, or voice activation (and any combination of these features). the history of the cell phone demonstrates what marketing trend?

John and daphne are saving for their daughter ellen's college education. ellen just turned 10 at (t = 0), and she will be entering college 8 years from now (at t = 8). college tuition and expenses at state u. are currently $14,500 a year, but they are expected to increase at a rate of 3.5% a year. ellen should graduate in 4 years--if she takes longer or wants to go to graduate school, she will be on her own. tuition and other costs will be due at the beginning of each school year (at t = 8, 9, 10, and 11).so far, john and daphne have accumulated $15,000 in their college savings account (at t = 0). their long-run financial plan is to add an additional $5,000 in each of the next 4 years (at t = 1, 2, 3, and 4). then they plan to make 3 equal annual contributions in each of the following years, t = 5, 6, and 7. they expect their investment account to earn 9%. how large must the annual payments at t = 5, 6, and 7 be to cover ellen's anticipated college costs? a. $1,965.21b. $2,068.64c. $2,177.51d. $2,292.12e. $2,412.76