1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Aloiza [94]
2 years ago
14

Sonic Corp. operates and franchises a chain of quick-service drive-in restaurants in most of the United States. Customers order

at a drive thru, dine on the patio, or drive up to a canopied parking space. A carhop then delivers the food to the customer. Assume that Sonic has $ 15 million in cash to support future expansion and has decided to invest the funds in corporate bonds until the money is needed. Sonic purchases bonds with $ 15 million face value for $ 15.7 million cash on January 1 of the current year. The bonds pay 9 percent interest annually, with payments on the following June 30 and December 31 , and mature in four years. Sonic plans to hold the bonds until maturity.
Required:
(c) Should Sonic prepare a journal entry if the fair value of the bonds increased to $ 16,300,000 on December 31 of the current year? Explain.
Business
1 answer:
podryga [215]2 years ago
4 0

Sonic corporation, founded as Sonic drive-In and more generally called Sonic "The force-In," is an American power-in speedy meals restaurant chain owned with the aid of inspire manufacturers, the discern employer of Arby's and Buffalo Wild Wings.

The agency, based by way of Troy N. Smith Sr. (1922–2009), opened its first location in 1953, below the name top Hat drive-In. Initially, a stroll up root beer stand out of doors a log cabin steakhouse selling soda, hamburgers, and hotdogs; Sonic, presently has three,549 locations inside the united states.

The employer's core products include the "Chili Cheese Coney", "Sonic Cheeseburger combo", "Sonic Blasts", "master Shakes", and "Wacky p.c. youngsters food." The organization also has a breakfast menu. although Sonic has operated because the early 1950s, Sonic Corp. incorporated in Delaware in 1990. It has its company headquarters in Oklahoma city; the headquarters building features a dine-in Sonic eating place in an adjacent building. prior to its acquisition by way of encourage manufacturers, its inventory traded on NASDAQ with the symbol SONC. Most eating places are owned and operated with the aid of franchisees. Total 2016 sales were around $100 million with internet profits of $18 million.

Learn more about Sonic Corporation here:-

brainly.com/question/25583824

#SPJ4

You might be interested in
Pure monopoly refers to_____. rev: 05_15_2018 Multiple Choice
alisha [4.7K]

Answer:

The correct answer is option c.

Explanation:

Pure monopoly refers to a market where there is a single producer selling a product with no close substitutes. Such type of market is very rare.  

There is restriction on entry and exit of firms in the market. The firm operating in this market is a price maker and faces a downward-sloping demand curve.  

No close substitutes, single seller and barriers to entry are essential conditions for a pure monopoly to exist.

5 0
3 years ago
Tell me about a time you were able to understand someone else's viewpoint that differed from your own. Describe the situation, y
RoseWind [281]

Answer:

<h3>"I have felt dissatisfied on the job when I feel underpaid and overworked. I don't mind working hard at all, but I don't like to feel as though I'm being taken advantage of." "When I see success few and far between, it is very unmotivating for me. I am a hunter and a true salesperson</h3>

7 0
3 years ago
Businesses located in countries that have relatively weak domestic demand rarely make the leap to multinational enterprises beca
Olin [163]

Answer:

The correct answer is : False

Explanation:

The participation in local production might repress the growth of imports in a market for goods made of different types.  The domestic demand constitutes a great proportion or potential import suppliers. The domestic industry may influence its reaction to import competition, the prevalence of multinational enterprises (MNEs) is important.

6 0
3 years ago
In union terms, a direct strike occurs:
Alex_Xolod [135]

Answer:

. when an organized body of workers withholds its labor to force the employer to comply with its demands.

Explanation:

6 0
3 years ago
Patricia purchased a home on January 1, 2017 for $1,420,000 by making a down payment of $100,000 and financing the remaining $1,
Oksana_A [137]

Answer: $60,000

Explanation:

The maximum amount deductible is based on a mortgage of $1,000,000 and the interest rate of the mortgage being paid.

Interest on $1,000,000 at 6% is:

= 6% * 1,000,000

= $60,000

<em />

<em>Only $60,000 of the $79,200 may be deducted. </em>

6 0
3 years ago
Other questions:
  • Imagine visiting a foreign nation and having to resolve a minor issue with your passport and travel plans. If someone told you t
    6·2 answers
  • Gloria is opening an upscale women's clothing store in a growing suburban residential area. gloria knows her target market is up
    7·1 answer
  • A 10-year $1,000 bond pays a nominal rate of 9% compounded semi-annually. If the market interest rate is 12% compounded annually
    6·1 answer
  • Sanders Enterprises arranged a revolving credit agreement of $9,000,000 with a group of banks. The firm paid an annual commitmen
    9·1 answer
  • Take It All Away has a cost of equity of 11.17 percent, a pretax cost of debt of 5.32 percent, and a tax rate of 40 percent. The
    5·1 answer
  • In what kind of estate does ownership revert to the grantor of the estate if usage fails to conform to a stated condition in the
    7·1 answer
  • West Company borrowed $36,000 on September 1, 2016 from the Valley Bank. West agreed to pay interest annually at the rate of 6%
    9·1 answer
  • If the present value of $280 paid one year from now is $250 what is the one-year discount factor?
    7·2 answers
  • Mars is an 18-billion dollar privately owned business; Hershey is only a 9 billion dollar publicly owned business. How could Her
    9·1 answer
  • Employers may pay nonexempt employees who work fluctuating schedules a fixed salary. in these cases, the extra pay is?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!