Answer:
Effective interest recognized on June 30, 20X1, will be equal to $3,354
Explanation:
Data provided from the question,
Amount of bond issued on January 2, 20X1 = $100,000 of 6% bonds
Interest = $3000
Payable semi-annually on June 30 and December 31
Number of years to mature = 5 years
The bond issued for $95,842 with an effective interest rate of 7%
Therefore, the Effective interest recognized on June 30, 20X1 =
bond issued × effective interest rate × semiannually(1/2)
= $95,842 x 0.07 x 0.5
= $3,354
The kind of measures that Bill took which made his insurance premiums to drop is a preventative measure.
<h3>What is a
preventative measure?</h3>
In insurance, a preventative measure can be defined as a kind of measure that typically involves reducing the degree of risk associated with an insurance object, and mitigating (decreasing) the negative impact of potential insurance-related accidents on the insured.
In this context, we can infer and logically deduce that the kind of measures that Bill took which made his insurance premiums to drop is a preventative measure.
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Answer:
Letter A
Explanation:
The main objective of the WTO is to promote the liberalization of world trade, reducing or extinguishing trade and customs barriers to facilitate economic exchanges at the international level. The agreements involve trade in goods, services, and intellectual property.
It is also important to know that currently, the World Trade Organization has 156 member countries.
All of a company's depreciation, property taxes and insurance premiums are considered manufacturing overhead (MOH) ----- False.
What is considered manufacturing overhead?
Manufacturing overhead (MOH) cost is the sum of all the indirect costs which are incurred while manufacturing a product. It is added to the cost of the final product along with the direct material and direct labor costs.
What does manufacturing overhead include?
Manufacturing overhead includes indirect materials, indirect labor, depreciation on factory buildings and machines, and insurance, taxes, and maintenance on factory facilities. Costs that are a necessary and integral part of producing the finished product.
. Direct labor :
Is the cost of the workers who make the product. The cost of supervisory personnel, management, and factory maintenance workers, although they are needed to operate the factory, are classified as indirect labor because these workers do not use the direct materials to build the product.
Learn more about company's depreciation :
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Answer:
Debit Estimated Warranty Liability $14,000; credit Merchandise Inventory $14,000.
Explanation:
The journal entry is shown below:
Estimated Warranty Liability A/c Dr $14,000
To Merchandise Inventory $14,000
(Being the customer warranties is settled)
Since we have to settle the customer warranties, so we debited the estimated warranty liability account and credited the merchandise inventory account
Hence, all other options are wrong except last one
