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inysia [295]
3 years ago
7

Jessica owns a small trading company. The company buys small vending machines from a manufacturer and sells them to the a retail

er, thus making a profit. Why are these vending machines a part of the trading firm’s current assets?
A.
the vending machines market value is lower than their original cost
B.
the vending machines are a part of the company’s income
C.
the vending machines are a part of the company’s expenses
D.
the vending machines are to be sold and converted into cash within the normal period of operation
E.
the vending machines could be sold at a loss
Business
1 answer:
djyliett [7]3 years ago
7 0
The anwser is c just took the test
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Answer:

Loss on early extinguishment = 1,008,357.64

Explanation:

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T = Interest rate = 10% = 0.10

FA = Face amount = $1,000,000

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Y = Yield rate = 12% = 0.12

RT = Retirement Time = 6/12 = 0.5

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EE = Gain (loss) on early extinguishment = ?

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D = Discount on bond payable = ?

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D = FA - [IE - (T * FA * RT)]

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EE = FA - [D + (FA * BA)]

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EE = -1,008,357.64 (Loss)

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