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2006 LONG-TERM DEBT INFORMATION
A long-term debt repayment (principle only) will be made on December
31, 2006 for $255,000. The interest rate charged on the debt balance
throughout 2006 will be 7.5% and will be paid on December 31, 2006.
If an additional machine is purchased, $5,000 will be paid in cash and
the remaining $25,000 will be financed at the 7.5% rate. This same
proportion of cash/additional debt will be applied to all additional
equipment purchased during 2006. Again, any purchases will be made
on January 1, 2006.
DIVIDEND POLICY
Fantastic, Inc.'s policy is to pay dividends on the last day of each quarter.
The total anticipated dividends for 2006 are $2.50 per share.
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ACCT 556 Week 7 Homework Problem
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ACCT 556
Week 7 Problem
Benefits of Social Programs