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xz_007 [3.2K]
3 years ago
15

On January 1, 2024, Fabrikam Labs issued 1,000 bonds, each with a face value of $1,000, for 102.7323. The stated interest is 3.8

%, and the market rate at the time the bonds were issued was 3.2%. The bonds are due on January 1, 2029 (5 year term) with interest payments due annually every January 1st. The company received cash from the sale of the bonds. Record the journal entry for the sale of the bonds.
Business
1 answer:
zepelin [54]3 years ago
8 0

Answer:

cash                              1,027,323 debit

  bonds payable                        1,000,000 credit

  premium on bonds payable        27,323 credit

Explanation:

To obtain the cash proceed we multiply the bonds issued by the face value and then for the point issued.

1,000 shares x $1,000 face value x 102.7323/100 points = 1,027,323

face value 1,000 shares x $1,000 face value =              1,000,000

premium on bonds payable                                                      27,323

As the issuance collected more than his face value there is a premium on bonds payable.

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Answer:

What to produce?

Explanation:

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Societies make choices on what to produce with the available resource. In every decision, there is a sacrifice to be made.

8 0
2 years ago
Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the foll
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Answer:

Instructions are listed below

Explanation:

Giving the following information:

The high-low method involves taking the highest level of activity and the lowest level of activity and comparing the total costs at each level.

Mountain has recorded the following for the past nine months:

January:

Number of Cavities= 375

Total cost= $5,300

February:

Number of Cavities  500

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March

Number of Cavities 350

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April

Number of Cavities 600

TC=6,250

May

Number of Cavities 325

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June

Number of Cavities 475

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July

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August

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September

Number of Cavities  450

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A) Variable cost= (Highest activity cost - lowest activity cost) / (Highest activity units - lowest activity units)

Variable cost= (6300 - 5150) / (600 - 325)= 4.18 per unit

Fixed cost= HACost - (variable cost per unit * HAUnits)= 6300 - (4.18*600)= 3792

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8 0
3 years ago
In 2016, Teller Company sold 3,000 units at $600 each. Variable expenses were $420 per unit, and fixed expenses were $270,000. T
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Answer:

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V = variable cost per unit

$270,000 / ($600 - $420) = 1500

I hope my answer helps you

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Answer:

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