Answer:
$8,767.50
Explanation:
Calculation for what Legion should report as bond interest expense for the six months ended
Using this formula
Bond interest expense= Carrying Value of Bond x Effective interest rate
Let plug in the formula
Bond interest expense=$146,125 x 12% yield interest x 6 months/12 months
Bond interest expense=$8,767.50
Therefore what Legion should report as bond interest expense for the six months ended is $8,767.50
Diego applying the systems model of change as a diagnostic framework
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Explanation:</u></h3>
The Business Diagnostics Framework is a systemized way to diagnose the form of your business. The framework emerges from the external concentric rings, evaluating primary the outside environment and then penetrating down into the essential functional areas of the business processes.
Business diagnosis is a means of operating rearward to recognize causes for inadequate execution by making the relevant links within causes and effects. Thus, it is a method of knowing the signs or conditions of a problem. The Business Diagnostics system is a different framework that assists resolve even the most complicated business circumstances.
Firstly, you should calculate the prices of your market basket, which basically means multiply all the goods with their prices and then add them together in their respective years. This would give you $260, $440, $690 and $1200 in the years 2010 to 2013 respectively. (follow along by noting everything down)
We see that the base year is 2013, therefore if we want to calculate the inflation rate from 2010 to 2011, we have to calculate their price indices. We do this by dividing the maket basket of our chosen years by the market basket of the base year, therefore the price index of 2010 is $260/$1200, giving us 21.6. The price index of 2011 would be $440/$1200, giving us 36.6. To calculate the inflation rate, you find the difference between your two price indices and divide it by the former year, which would be 36.6 - 21.6 / 21.6 x 100, giving us the inflation rate of 69.2%.
Answer: C. an implied contract.
Explanation:
An Implied Contract is one that arises as a result of the way one or both of the parties involved in the contract acts towards the other.
Unlike an Express Contract, it need not be written down but it does have the same legal weight and strength of a written contract.
The basic principle of this contract is that people should always be treated fairly in business transactions so the need to always pen it down is not necessary.
By walking in and leaving his clothes at the laundry, Bill got into an Implied Contract as it would be unfair for Tom to just clean his clothes with no payment.
Answer:
See explanation section
Explanation:
To record the journal entry to write off the uncollectible account according to the direct write-off method, we have to use bad dad expanse instead of an allowance account.
December 31 Bad Debt Expense Debit $1,200
Account receivable - Acme, Inc. Credit $1,200
Note: As the company did not get the money from the Acme, Inc., They treated the expense as irrecoverable.