Answer:
Transaction 1
Debit : Cash ($1,000 x 1,000) $1,000,000
Credit : Bond Payable $1,000,000
Transaction 2
Debit : Cash ($854,000 x 101.30%) $865,102
Credit : Bond Payable $865,102
Transaction 3
Debit : Cash ($281,000 x 99%) $278,190
Credit : Bond Payable $278,190
Explanation:
On each issuance date recognize a cash inflow and a liability - Bond Payable to the extent of the amount paid on issue.
Answer:
controllable margin for the year is $180,000.
Explanation:
The Controllable Margin is the Profit that is controllable by the divisional manager.
<u>Calculation of Controllable Margin : </u>
Contribution Margin $360,000
Less Controllable fixed costs ($180,000)
Division Controllable Margin $180,000
Answer:
Net profit= $21200
Explanation:
Giving the following information we need to calculate the net profit or loss:
Revenues:
Fees for computer repairs $ 41,600
Fees for printer repairs 5,950
Total revenues= 47550
Expenses: (-)
Advertising expense 5,700
Salaries expense 18,500
Telephone expense 850
Utilities expense 1,300
Total expense= 26350 (-)
Net profit= 21200
Answer:
No ; $625 ; cut down expenses
Explanation:
Annual Gross =$96000
Amount after tax : (1 - 0.3) * 96000 = $67,200
Monthly Total Expenses :
$(700 + 610 + 1200 + 200 + 520 + 275 + 250 + (350*4)) = $5,155
After - tax monthly :
67,200 / 12 = $5600
Amount left :
$5600 - $5155 = $445
If total amout left is saved for 2 years :
Amount saved = ($445 * 24) = $10,680
$10,680 < $15,000 ; therefore, it won't be enough for the purchase.
Monthly saving to earn $15000 in 2 years
2years = 24 months
$15000 / 24
= $625
Grocery expenses , clothing, discretionary cost and cable expenses could be all be cut down in other to increase saving.
