How do businesses help a country's economy

On january 1 of 2015, parson freight company issues 7%, 10-year bonds with a par value of $2,000,000. the bonds pay interest sem

sleet_krkn [62]

The bond issuance should be recorded as the bond issued with discount. There is a difference between the bond's par value and its selling price. If a bond sold below its par value, a discount will appear as the difference between them. For the journal entry, there will be a debit balance in cash account for $1,864,097, debit balance in the discount of the bond payable account for $ 135,903, and credit balance in the bond payable account for $2,000,000.

7 0

3 years ago

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2

Vikki [24]

Answer:

a. The predetermined overhead rate for 2017,

=Total Manufacturing overhead costs / direct labor Costs

= $840,000/100,000= $ 1.2 / direct labor or 120% of direct labor cost.

b. Raw materials Inventory $ 90,000 Dr.

Accounts Payable $ 90,000 Cr.

To record the purchase of raw materials on account

Direct Labor $ 70,000 Dr.

Wages Payable $ 54,000 Cr

Payroll Taxes $ 16,000 Cr

To record factory labor costs incurred.

Indirect materials $ 17,000 Dr

Indirect labor $ 20,000 Dr

Depreciation expense $ 12,000 Dr

Other manufacturing costs $ 16,000 Dr

Manufacturing Overhead Control Account $ 65,000 Cr.

To record Manufacturing Overheads incurred.

c. Work In Process $ 189,000 Dr

Job 50 Raw materials $ 10,000 Cr

Job 51 Raw materials $ 39,000 Cr

Job 52 Raw materials $ 30,000 Cr

Job 50Direct Labor $ 5000 Cr

Job 51 Direct Labor $ 25000 Cr

Job 52 Direct Labor $ 20,000 Cr

Job 50 Manufacturing Overhead ( 1.2 * 5000) $ 6000Cr

Job 51 Manufacturing Overhead ( 1.2 * 25000) $ 30,000Cr

Job 52 Manufacturing Overhead ( 1.2 * 20,000) $ 24,000Cr

To record the materials, direct labor and manufacturing costs to Job 50,51 and 52. It can be summarized as follows

Work In Process $ 189,000 Dr

Raw materials $ 79,000 Cr

Direct Labor $ 50000 Cr

Manufacturing Overhead ( 1.2 * 50000) $ 60000Cr

6 0

3 years ago

The new Fore and Aft Marina is to be located on the Ohio River near Madison, Indiana. Assume that Fore and Aft decides to build

Nataly [62]

Po = 0.5385, Lq = 0.0593 boats, Wq = 0.5930 minutes, W = 6.5930 minutes.

<u>Explanation:</u>

The problem is that of Multiple-server Queuing Model.

Number of servers, M = 2.

Arrival rate, $\lambda$ = 6 boats per hour.

Service rate, $\mu$ = 10 boats per hour.

Probability of zero boats in the system, $\mathrm{PO}=1 /\{[(1 / 0 !) \times(6 / 10) 0+(1 / 1 !) \times(6 / 10) 1]+[(6 / 10) 2 /(2 ! \times(1-(6 /(2 \times 10)))]\}$ = 0.5385

<u>Average number of boats waiting in line for service:</u>

Lq = $[\lambda.\mu.( \lambda / \mu )M / {(M – 1)! (M. \mu – \lambda )2}] x P0$

= $[\{6 \times 10 \times(6 / 10) 2\} /\{(2-1) ! \times((2 \times 10)-6) 2\}] \times 0.5385$ = 0.0593 boats.

The average time a boat will spend waiting for service, Wq = 0.0593 divide by 6 = 0.009883 hours = 0.5930 minutes.

The average time a boat will spend at the dock, W = 0.009883 plus (1 divide 10) = 0.109883 hours = 6.5930 minutes.

4 0

3 years ago

Forced to lay off a number of its employees, including larry kurzyniec. larry, who had been logging for over eighteen years, suf

Shtirlitz [24]

COBRA- Consolidated Omnibus Budget Reconciliation Act, is the name of the federal law that guarantees employees who have lost their jobs continuing access to health insurance.

<h3>What is Federal COBRA?</h3>

When your employment terminates or your hours are reduced, federal COBRA is a law that enables you to preserve your group health coverage. All insured employees, their spouses, ex-spouses, and dependent children must be provided with continuous coverage under federal COBRA. Employers and group health plans with 20 or more members are subject to the federal COBRA.

<h3>How does COBRA work?</h3>

Under certain conditions, including voluntary or involuntary job loss, a reduction in hours worked, a change in employment, death, divorce, and other life events, the COBRA allows employees and their families who lose their health benefits to choose to continue receiving group health benefits from their group health plan for a finite amount of time. The full price for coverage up to 102% of the plan's cost may be demanded of qualified persons.

To know more about Federal laws visit: brainly.com/question/29439408

#SPJ4

4 0

1 year ago

The electric utility rate for a facility during the months of May through October is 4.5 cents per kilowatt-hour for energy, $11

Minchanka [31]

Answer: $11564

Explanation:

Total units consumed for August = 96000

There's a peak demand of 624kw

Also, the May through October is 4.5 cents per kilowatt-hour for energy.

The August electric bill will then be:

= 96000 × 4.5/100 + 624 × 11.50 + 68

= (96000 × 0.045) + (624 × 11.50) + 68

= 4320 + 7176 + 68

= 11564

4 0

3 years ago