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fredd [130]
3 years ago
6

Sandhill Company had bonds outstanding with a maturity value of $313,000. On April 30, 2017, when these bonds had an unamortized

discount of $9,000, they were called in at 104. To pay for these bonds, Sandhill had issued other bonds a month earlier bearing a lower interest rate. The newly issued bonds had a life of 10 years. The new bonds were issued at 102 (face value $313,000). Issue costs related to the new bonds were $3,000.
Ignoring interest, compute the gain or loss.
Business
1 answer:
siniylev [52]3 years ago
7 0

Answer:

bonds payable     313,000 debit

loss at redemption 21,520 debit

           discount on bonds payable   9,000 credit

           cash                                     325,520 credit

Explanation:

face value of the bons     313,000

discount                        <u>       (9,000)  </u>

book value of the bonds 304,000

They are called at 104/100 of the face value of $313,000

that is: 325,520 dollars

we have paid 325,520 dollars for bonds worth 304,000 dollar in our accounting thus, we have a loss for 21,520 dollars

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A small amount of inflation can be really good for the economy. It can boost consumer demand and consumption. This encourages spending and investing.

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3 years ago
A local theater company sells 1,500 season ticket packages at a price of $250 per package. The first show in the 10-show season
swat32

Answer:

Dr cash    $375,000

Cr unearned revenue      $375,000

Dr unearned revenue     $37,500

Cr revenue                                    $37,500

Explanation:

The total amount realized from the sale of tickets is  $375,000($250*1500)

However,the cash proceeds should be debited to cash while it is also credited to unearned revenue

The revenue from fulfilling the performance obligation=1/10*$375,000=$37,500

The $37,500 is debited to unearned revenue and credited to sales revenue as that amount has now been earned

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3 years ago
In a command economy, Individuals fellow thir self-interest without government intervention True or False İf false, correct the
Ostrovityanka [42]

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False

Explanation:

In a command or planned economy, the factors of production are owned and controlled by the government.  The government makes all the significant economic decisions such as production, distribution, and pricing.  

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3 years ago
ATTENTION I WILL GIVE BRAINLIEST!!!!
Katyanochek1 [597]
I can help ya I will email u the answer
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3 years ago
If a firm produces a return on assets of 15 percent and also a return on equity of 15 percent, then the firm:
dem82 [27]

Answer:

No debt of any kind.

Explanation:

Then the firm has “no debt of any kind” because the company has the equity multiplier ratio is 1.

We have given the return on assets is 15 % and the same return is on the equity that is 15%.

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Equity mulitplier ratio = Total Assets / Total equity.

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