Answer:
$10,790
Explanation:
Face value of the bond = $83,000
Market value = $78,850
Bond discount value = Face value of the bond - Market value
$83,000 - $78,850
= $4,150
Amortized over 5 years under straight line method
Per year = $4,150 ÷ 5
= $830
Interest on bond for the year = Face value of the bond × Issued Bonds in percentage
= $83,000 × 12% = $9,960
Bond interest expense = Interest on bond for the year + Per year amortization
= $9,960 + $830
= $10,790
Answer:
The answer is A, D, E
Explanation:
I just answered the question.
User name and password on what app?
Answer:
A) A credit to accumulated depreciation of $14.4 Million
Explanation:
The complete journal entry should be:
- Dr Asset XXX account 24,000,000
- Cr Accumulated Depreciation account 14,400,000
- Cr Retained Earnings account 9,600,000
First of all the asset must be recorded at full value.
Accumulated depreciation would be credited for 3 years = ($24 / 5) x 3 = $4.8 x = $14.4
Since the depreciation expense lowered the net profits during 2018, the retained earnings must be adjusted for the remaining value = $24 - $14.4 = $9.8
Answer:
13.28%
Explanation:
The computation of the coupon rate is shown below
But before that determine the PMT
Given that
NPER = 12 × 2 = 24
RATE = 10% ÷ 2 = 5%
PV = $1,226.50
FV = $1,000;
The formula is shown below
= PMT(RATE;NPER;-PV;FV;TYPE)
After applying the above formula, the monthly payment is
= $66.41 × 2
= $132.82
Now the coupon rate is
= $132.82 ÷ $1,000
= 13.28%
