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2 years ago

8

Last year, talent show tickets were sold for $11 each and 400 people attended. it has been determined that an increase of $1 in

ticket price would cause a decrease in attendance of 20 people. what ticket price would maximize revenue

1 answer:

tankabanditka [31]2 years ago

5 0

Answer:

Explanation:

4800 - 300 ppl $16

or

4800 - 320 ppl $15

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Creswell Farms produces and sells clover honey and wants to expand its product line. A brainstorming session results in 40 diffe

Gwar [14]

Answer:

In this scenario, Creswell Farms is in the idea generation stage of the new product development process.

Explanation:

Idea generation stage refers to the stage which involves the creation, development, and communication of the ideas. The process involves the construction of the idea and transforming the concepts into reality. The initiation of a project begins with the generation of the idea generation stage. In the above case, the suggestions are provided which would help the business of the product. Hence, this refers to the idea generation stage.

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Which of the following is true? When companies employ push-down accounting:A) the subsidiary revalues assets and liabilities to

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Answer: The correct answer is A) The subsidiary revalues assets and liabilities to their fair values as of the acquisition date.

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3 years ago

Grocery Corporation received $330,654 for 9.50 percent bonds issued on January 1, 2018, at a market interest rate of 6.50 percen

andre [41]

Answer:

Explanation:

Issue price of bond = $330,654

Face Value = $272000

Premium on issue of bond = $330,654 - $272000 = 58654

Journal entry for bond issuance:

Cash Dr $330,654

Bonds Payable $272000

Premium on Bonds payable $58654

(Being bond issued at a premium of $58654)

As per effective interest method, interest expense = market rate * book value of bond

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Cash interest = $272000 * 9.5% = $25840

Premium to be amortized on interest date = $25840 - $21492.5 = $4347.5 or $4348

Journal entry for interest payment on December 31:

Account Financial Issuance Interest paid

Statement

Bonds payable Balance Sheet 272000

Discount on Bonds payable NA NA NA

Interest expense Income Statement 0 21492.5

Premium on Bonds Payable Balance Sheet 58654 -3813

Note: Interest expense for the year:

Interest to be paid ($272000 * 9.5%) 25840

Less: Amortization of Premium (58654/6.5) 3813

Interest expense 21492.5

Journal entry:

Interest expense Dr. 21492.5

Premium on Bonds payable Dr. 3813

Cash Account 25306

Note: here, it has been premium has been written on Straight line basis.

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Sav [38]

Answer:

C.

Explanation:

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