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Assignment 04 A04 Intermediate Accounting I Directions :  Be sure to make an electronic copy of your answer before submitting it to Ashworth College for grading.  Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar.  Sources must be cited in APA format.  Refer to the "Assignment Format" page for specific format requirements. Part A (40 points) Vince Corporation has current assets of $300,000 and current liabilities of $175,000. Compute the effect of each of the following transactions on Vince’s current ratio: Refinanced a $50,000 long-term mortgage with a short-term note. Purchasing $80,000 of merchandise inventory with short-term accounts payable. Paying $30,000 of  short-term accounts payable. Collecting $40,000 of short-term accounts receivable. Part B (20 points) Selected data of the Peninsula Company follow: As of December 31 Bala

7. (Points: 15.0)  Renfro Company issued $500,000 of 8%, 10-year bonds at 102. Interest is paid annually, and the straight-line method is used for amortization. Assume that the market rate for similar investments is 7%. The bonds are issued on the date of the bonds. (SHOW ALL WORK) What amount was received for the bonds? How much interest is paid each interest period? What is the premium amortization for the first interest period? How much bond interest expense is recorded on the first interest date? What is the carrying value of the bonds after the first interest date? Download A+ Rated Solution CLICK HERE Password shiv for unlock .doc, .xls, .zip file 

Budget Development Given all of the information you have gained in this and other courses, develop a budget for a restaurant business establishment. Develop a monthly budget for one financial year (12 months) by using a sales forecast and variable and  fixed costs based on your business concept. Using industry averages, develop a one-year total budget based on the monthly budgets created. Save the budget sheet as an Excel file Discuss the following aspects that you analyzed or experienced while creating  this budget: What was the most challenging aspect? What do you see as the biggest financial benefit to your organization Download A+ Rated Solution CLICK HERE Password shiv for unlock .doc, .xls, .zip file