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
BlackZzzverrR [31]
3 years ago
7

Thomas Marley Fitness Gym has $ 700 comma 000 of 20​-year bonds payable outstanding. These bonds had a discount of $ 77 comma 00

0 at​ issuance, which was 10 years ago. The company uses the​ straight-line amortization method. The current carrying amount of these bonds payable is
Business
1 answer:
Aleks04 [339]3 years ago
3 0

Answer:

$661,500

Explanation:

Given that

Bonds payable $700,000

Discount of issuance = $77,000

The computation of current carrying amount is shown below:-

Current carrying amount = Bonds payable - discount on bonds payable

Discount on bonds payable = Discount at issuance  (Issuance ÷ Years bonds payable)

= $77,000 × (10 ÷ 20)

= $38,500

Now we put it into formula

= $700,000 - $38,500

= $661,500

You might be interested in
Nash Corporation had income from continuing operations of $10,813,600 in 2020. During 2020, it disposed of its restaurant divisi
Mrac [35]

Answer and Explanation:

The presentation of the partial income statement is presented below:

                                                  Nash Corporation

                                            Partial income statement

Income from continuing operations    $10,813,600

Discontinued operations

Loss from operations of a division   $316,100

Loss from disposal of the division    $206,600                  ($522,700)

Net income                                         $10,290,900

Earning per share

Income from continuing operations                    

($10,813,600 ÷ 10,000,000 shares)        $1.08

Less Discontinued operations

($522,700 ÷ 10,000,000 shares)              -$0.05

Net income

($10,290,900 ÷   10,000,000 shares)      $1.03

We simply deduct the losses from the income so that the net income could arrive

5 0
3 years ago
Your company obtains a short term loan on September 1st, 2019 to cover costs to purchase inventory. The loan is for $50,000, the
artcher [175]

Answer:

a. Journal Entry on September 1st, 2019:

Dr: Cash/ Bank     $50,000

Cr: Short Term Loan     $50,000

b. Journal Entry to accrue interest on December 31st, 2019 is:

Dr: Interest Expense    $1,333.33

Cr: Accrues Interest Expense     $1,333.33

c. Interest Expense on March 31st, 2020 is :

$1,000

d. The Total cash company will pay back on March 31st 2020:

52,333.33 (50,000 principal + 2,333.33 interest)

Explanation:

b. Annual Interest is $50,000×8% = $4,000 per annum.

The annual interest rate is prorated for 4 months (Sept 2019 -Dec 2019)

$4,000 *4/12 = $1,333.33

c. Interest expense for next fiscal year up till March 2020 is calculated by prorating annual interest expense for 3 months (Jan 2020- Mar 2020)

$4,000×3/12 = $1,000

8 0
3 years ago
describe what ETL (Extraction, Transformation, and Load) stands for. Solomon (2015) classified ETL technologies into four catego
Anna71 [15]

Answer:

Scheduled data integration, or ETL, is an important aspect of warehousing because it consolidates data from multiple sources and transforms it into a useful format

Explanation:

ETL are three separate but crucial functions combined into a single programming tool that helps in preparing data and in the management of databases. Extract, Transform, Load each denotes a process in the movement of data from its source to a data storage system, often referred to as a data warehouse

3 0
3 years ago
Assume the average annual CPI values for 2017 and 2018 were 207.3 and 215.3, respectively. What was the percent increase in the
Vesna [10]

Answer:

quizlet answers

Explanation:

here

5 0
3 years ago
Market competition may sometimes encourage a firm to innovate out of fear because of the perception that Group of answer choices
topjm [15]

Answer:

they will inevitably fall behind other competitors seeking out innovations.

Explanation:

Innovation typically involves the creation of a new product of any category such as automobile, building, phones, electronics, etc., that generates money for the innovators or manufacturers through purchase made by the end users (consumers).

Competitive advantage can be defined as conditions, factors or circumstances that allow a business firm (organization) to manufacture finished goods or services better and perhaps cheaper than other (rival) firms in the same industry. Thus, it's responsible for putting a business firm in a superior or more favorable position than rival firms.

This ultimately implies that, a competitive advantage has a significant impact on a business because it increases its level of sales, revenue generation and profit margin when compared to rival firms in the same industry.

Hence, market competition may sometimes encourage a firm to innovate out of fear because of the perception that they will inevitably fall behind other competitors in the same industry who are seeking out innovations.

7 0
3 years ago
Other questions:
  • What refers to the amount of a product offered for sale at all possible prices in a market
    15·1 answer
  • A company reported the following in its recent balance sheet:
    7·1 answer
  • "karla is taking two classes for a total of six credit hours. therefore she should be spending a minimum of ________ hours for r
    7·1 answer
  • If you put $700 in a savings account at an interest rate of 3 percent, how much money will you have in one year?
    9·1 answer
  • You buy a put option to sell stock at $35. The price of the stock is $34 when you bought it, and the price paid for the put is $
    15·1 answer
  • Adam Jones, the purchasing manager for ACME Corporation, is under suspicion for committing fraud. His superiors believe he is ac
    6·1 answer
  • The liquidity trap refers to the
    14·1 answer
  • Suppose that you take $150 in currency out of your pocket and deposit it in your checking account. If the required reserve ratio
    11·1 answer
  • When entering variables in a spreadsheet function (or in a financial calculator) the "sign convention" can be critical to achiev
    6·2 answers
  • What types of services do property taxes typically pay for?​
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!