On January 1, 2018, Legion Company sold $270,000 of 4% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $146,125, priced to yield 12%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2018, in the amount of

Which of the following statements is correct? a) one drawback of forming a corporation is that it generally subjects the firm to additional regulationsb) one drawback of forming a corporation is that it subjects the firms investors to increased personal liabilitiesc) one drawback of forming a corporation is that it makes it more difficult for the firm to raise capitald) one advantage of forming a corporation is that it subjects the firm's investors to fewer taxese) one disadvantage of forming a corporation is that it is more difficult for the firm's investors to transfer their ownership interests

Label each scenario with the term that best describes it. use the midpoint method when applicable. marcel duchamp was a famous artist prior to his death, and was known for his dada artwork, including works such as "soft toilet". all of his original sculptures and paintings go on sale. paul owns a tim horton's, a famous donut and coffee franchise. he is willing to sell as many maple glazed donuts as customers want at a price of $1.00 each, but he refuses to sell any donuts for any price lower than $1.00 . the price of facial tissues rises from $2.85 per box to $3.15 . as a result, p& g increases production from 15 million boxes to 25 million boxes of facial tissue. with the school semester starting for both high school and college, papermate chooses to increase production of pens from 38 million to 42 million after global prices of writing instruments increase from $1.90 a package to $2.10 a package. bright ideas increases its production of lightbulbs by 15% after a 400% increase in the price of fluorescent bulbs.labels: elastic supply; perfectly inelastic supply; perfectly elastic supply; inelastic supply; unit-elastic supply.

You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: “i’m not a u.s. company and i don’t make decisions based on what’s good for the u.s.” what are the alternatives? what are your recommendations? why do you recommend this course of action?