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
Explain what lower of cost or market means in regards to reporting merchandise inventory on the balance sheet.
Degger [83]

Answer and Explanation:

Inventory is an asset and is posted on the asset side of the balance sheet. As per accounting standards regarding inventory valuation, it can be either valued at historical cost or at market price, whichever is lower.

Historical cost is the cost at which asset was acquired. Market price is the price which would be received if the asset is replaced as on the date on which balance sheet is prepared. Inventory is valued at lower of the above mentioned costs.

4 0
3 years ago
The primary purpose of the legal reserve requirement is to:
Marta_Voda [28]

Answer: The correct answer is choice C.

Explanation: The primary purpose of the legal reserve requirement is to provide a means by which monetary authorities can influence the lending ability of commercial banks. These policies are the way in which the Federal Reserve can control the money supply.

4 0
3 years ago
Bennett Co. has a potential new project that is expected to generate annual revenues of $262,100, with variable costs of $144,00
swat32

Answer:

Operating cash flow= $29,886

Explanation:

Giving the following information:

Sales= $262,100

Total variable cost= $144,000

Total fixed costs= $61,300.

Annual interest expense of $24,500. The annual depreciation is $25,200 and the tax rate is 34 percent.

<u>We need to determine the operating cash flow:</u>

Sales= 262,100

Total variable cost= (144,000)

Contribution margin= 118,100

Total fixed costs= (61,300)

Depreciation= (25,200)

Interest= (24,500)

EBIT= 7,100

Tax= (7,100*0.34)= (2,414)

Depreciation= 25,200

Operating cash flow= 29,886

7 0
3 years ago
A document that authorizes a supplier to deliver a product or service is known as.
Alecsey [184]

Answer:

purchase order

Explanation:

a document that authorizes a supplier to deliver a product or service is known as a purchase order is the purchased cost of goods from outside suppliers cost of goods sold is used when requirements are well understood and there is common agreement between supply chain partners about what certain terms mean

6 0
2 years ago
Read 2 more answers
The chief goal of human relations is to
Eddi Din [679]
73. They are called Human relations or HR because they are responsible to make sure that the employees that working on the Company they are in is find and having no difficulties. They ensure that they answer the queries and clarification of the employees and also make takes action if there are unnecessary problem or issue that is going on to every person in the company. They are also the one who provide protocols and work ethics to make sure that the company is in good conditions in terms of professionalism.
4 0
3 years ago
Other questions:
  • Partially amortizing mortgage loans require periodic payments of principal, but are not paid off completely over the loan's term
    11·1 answer
  • Gross profit rate is 30% of sales. Expected January sales are $78,000 and desired January 31st inventory is $7,500. Assuming the
    12·2 answers
  • A taxpayer with qualified business income who is a patron of an agricultural cooperative will use what form to calculate the qua
    7·1 answer
  • In 1969, frustrated by the lack of progress in LAFTA, Bolivia, Chile, Colombia, Ecuador, and Peru joined in creating the Andean
    10·1 answer
  • Use the cost information below for Ruiz Inc. to determine the total manufacturing costs incurred during the year:
    10·1 answer
  • When two or more people share an account it is called a joint account. True or false
    5·1 answer
  • Valley Designs issued a 90-day, 6% note for $96,000, dated April 22, to Bork Furniture Company on account. Assume 360 days in a
    6·1 answer
  • Smithson, Inc. produces two types of gas grills: a family model and a deluxe model. Smithson’s controller has decided to use a p
    7·1 answer
  • According to U.S. law, a company has an illegal monopoly when it dominates an industry and ___. *
    12·2 answers
  • Twitter provides a platform where businesses can create advertising campaigns
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!