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jeka94
3 years ago
14

Moss County Bank agrees to lend the Ivanhoe Company $365000 on January 1. Ivanhoe Company signs a $365000, 6%, 9-month note. The

entry made by Ivanhoe Company on January 1 to record the proceeds and issuance of the note is
Business
1 answer:
REY [17]3 years ago
6 0

Answer:

Ivanhoe Company on January 1 would record the proceeds and issuance of the note as follows:

Debit Cash $365,000

Credit Notes payable $365,000

<em>(To recognize notes payable to Moss County Bank)</em>

Explanation:

Note payable is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.

Interest expense on the notes is calculated as: Principal x Interest Rate x Time

In this case, the total interest expense to Ivanhoe Company is $365,000 x 6%/12 x 9 months = $16,425.

Monthly interest expense to the Company over the 9-month period is therefore $16,425 / 9 months = $1,825.

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What is the current yield on a zero coupon bond with a remaining life of 4 years, a yield to maturity of 10.8%, and a par value
Tanya [424]

Answer:

$663.5

Explanation:

given that

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I hope that helps

8 0
3 years ago
1. Spring Fresh produces premium bottled water. Fresh Spring purchases artesian​ water, stores the water in large​ tanks, and th
allochka39001 [22]

Answer:

A. $45,950

B. $0.84 per liter.

Explanation:

A. February conversion costs in the Filtration Department:

= Direct labor costs(Wages of workers operating filtration equipment) + Manufacturing overhead allocated to filtration

= $25,950 + $20,000

= $45,950

B. Filtration Department completely processed 150,000 liters in February.

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= Direct labor costs + Manufacturing overhead allocated to filtration + Water

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7 0
3 years ago
A bottling plant fills 2,400 bottles every two hours. The lead time is 40 minutes and a container accommodates 120 bottles. The
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Answer:

= 7.77

≅ 8 kanban cards

Explanation:

 K = \frac{DL(1 + S)}{C}

K = Number of kanban card sets

D = Average number of units demanded over some time period

L = Lead time to replenish an order

S = Safety stock expressed as a percentage of demand

C = Container size

where,

D = If the average number of units demanded is 2400 and the time period is 2 hours, then that's 1200 in an hour, 1200 in 60 minutes, 20 in one minute.  

L = 40

S = 0.1

C = 120

K = 20 * 40 (1 + 0.1) / 120

K = 7.77

approximately

≅ 8 kanban cards

4 0
3 years ago
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