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Norma-Jean [14]
3 years ago
9

On january 1 of year 1, congo express airways issued $3,700,000 of 6% bonds that pay interest semiannually on january 1 and july

1. the bond issue price is $3,360,000 and the market rate of interest for similar bonds is 7%. the bond premium or discount is being amortized at a rate of $11,333 every six months. the amount of interest expense recognized by congo express airways on the bond issue in year 1 would be
Business
1 answer:
erastova [34]3 years ago
6 0
<span>The amount of interest expense recognized by Congo Express Airways would be $199,334 after one year of being issued. This is calculated by finding 6% of the $3,700,000 which is $222,000. Then subtracting the amortized amount of $22,666 per annum, which was found by doubling the 6 month rate of $11,333. This gives you a total of $199,334.</span>
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All the other options tells about the earnings and costs of the company not about the assets and liabilities of the company.

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Bild-Rite, Inc., is a Colorado-based firm that does business with clients throughout North America. Bild-Rite oversees construct
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COMMERCIAL TRANSACTIONS for the sale of and payment for goods.        

Explanation:

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8 0
2 years ago
Read 2 more answers
Bengal Co. provides the following sales forecast for the next three months: July August September Sales units 5,000 5,700 5,560
nydimaria [60]

Answer:

Total production= 5,840 units

Explanation:

Giving the following information:

Sales in units:

July= 5,000

August= 5,700

September= 5,560

The company wants to end each month with ending finished goods inventory equal to 25% of the next month's sales. The finished goods inventory on June 30 is 1,250 units.

To determine the production for August, we need to use the following structure:

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7 0
3 years ago
Speedy has net income of $30,955, and assets at the beginning of the year of $212,000. Assets at the end of the year total $258,
Talja [164]

Answer:

13.17%

Explanation:

Given that;

Net income = $30,955

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Average total assets = (Assets at the beginning of the year + Assets at the end of the year ) / 2

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Return on assets = 13.17%

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2 years ago
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