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salantis [7]
3 years ago
14

Mountaintop Sports Inc. issued $200,000 of 10-year, 6% bonds, with interest payable semiannually on June 30 and December 31 each

year. The bonds were sold at 100. Assuming Mountaintop Sports has a December 31 fiscal year end, what amount should be recorded as interest expense in the journal entry made each six months?
Business
1 answer:
SCORPION-xisa [38]3 years ago
4 0

Answer:

The amount should be recorded as interest expense in the journal entry made each six months is $6,000

Explanation:

In order to calculate the amount should be recorded as interest expense in the journal entry made each six months, we have to calculate the interest annually with the following formula according to the given data:

interest annually=Issue Price of Bond×rate of interest

                           =$200,000 ×6%

                           =$12,000

Therefore, the interest semiannually would be calculated as follows:

interest semiannually=$12,000/2=$6,000

The amount should be recorded as interest expense in the journal entry made each six months is $6,000

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alexandr1967 [171]

Answer:

1)  b. National security documents

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2)   i - requires

    ii - open

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   iv - future

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3) c. Regulatory Flexibility Act

4) True

5) True, 60days

Explanation:

1) Two categories of records that are exempt from public disclosure under the Freedom of Information Act are; "National security documents  & Documents with confidential information".

2) The Government in the Sunshine Act requires all agency meetings to be open to the public unless they meet certain criteria. If a person is going to be accused of a crime, if future agency action would be frustrated, or if the meeting involves future litigation or rule making, then the meeting may be closed.

3) The law which requires the government to reassess the impact on business and continue to look for less burdensome means of achieving a governmental goal is Regulatory Flexibility Act.

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5) The Small Business Regulatory Enforcement Fairness Act gives Congress 60 days to review new federal regulations to be sure that they do not unduly burden small businesses.

5 0
3 years ago
Read 2 more answers
Samsonite has declared a 90% stock dividend. At the time of the declaration, Samsonite's stock was selling for $250 per share. I
NeTakaya

Answer:

$131.58

Explanation:

The computation of the new stock price is shown below:

= Selling price of stock per share ÷ current number of shares

= $250 ÷ 1.90

= $131.58

Since the 90% dividend is declared. It means for each share 90% dividend is declared so after stock dividend, the number of shares would be

= 1 + 90%

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We simply divide the selling price by the current number of shares

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3 years ago
_____________ data can be obtained through the use of surveys, observation, and focus groups.
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Answer:

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Explanation:

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Learn more about law of supply and demand here:

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8 0
1 year ago
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Answer:

A) Breach, because the latter express warranty is valid.

Explanation:

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