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dalvyx [7]
3 years ago
5

In the last decade or so, there has been a dramatic expansion of small retail convenience stores (such as 7-Eleven, Kwik Shop, a

nd Circle K), although their prices are generally much higher than prices in large supermarkets. What explains the success of the convenience stores?
Business
1 answer:
ELEN [110]3 years ago
6 0

Answer:

They are time saving, they are on hand near, and openened usually 24/7.

Explanation:

They are largely successful due to them being placed in areas of convenience and people aremore willing to buy expensive products if it will save them the time of going to asupermarket and getting what they need.

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Ne4ueva [31]

Answer:

huh?no one's got time to write an essay for you

3 0
2 years ago
Read 2 more answers
On January 1, 2022, Concord Company issued $2,800,000 face value, 7%, 10-year bonds at $3,006,070. This price resulted in a 6% e
yaroslaw [1]

Answer:

Concord Company

Journal Entries:

i. The issuance of the bonds on January 1, 2022:

Debit Cash $3,006,070

Credit Bonds Payable $2,800,000

Credit Bonds Premium $206,070

To record the issuance of bonds at premium.

ii. Accrual of interest and amortization of the premium on December 31, 2022:

Debit Interest expense $180,364

Debit Premium Amortization $15,636

Credit Interest Payable $196,000

To accrue interest and record premium amortization.

iii. The payment of interest on January 1, 2023:

Debit Interest Payable $196,000

Credit Cash $196,000

To record payment of interest.

iv. Accrual of interest and amortization of the premium on December 31, 2023:

Debit Interest expense $179,426

Debit Premium Amortization $16,574

Credit Interest Payable $196,000

To accrue interest and record premium amortization.

Explanation:

a) Data and Calculations:

January 1, 2022:

Face value of bonds issued =  $2,800,000

Proceeds from the bonds issue 3,006,070

Bonds Premium =                        $206,070

Coupon interest rate = 7%

Effective interest rate = 6%

Bonds maturity period = 10 years

Payment of annual interest = each January 1

December 31, 2022:

Interest expense = $180,364 ($3,006,070 * 6%)

Cash payment = $196,000 ($2,800,000 * 7%)

Amortization of premium $15,636 ($196,000 - $180,364)

Bonds' fair value = $2,990,434 ($3,006,070 - $15,636)

December 31, 2023:

Interest expense = $179,426 ($2,990,434 * 6%)

Cash payment = $196,000 ($2,800,000 * 7%)

Amortization of premium $16,574 ($196,000 - $179,426)

Bonds' fair value = $2,973,860 ($2,990,434 - $16,574)

Analysis:

i. The issuance of the bonds on January 1, 2022:

Cash $3,006,070 Bonds Payable $2,800,000 Bonds Premium $206,070

ii. Accrual of interest and amortization of the premium on December 31, 2022:

Interest expense $180,364 Premium Amortization $15,636 Interest Payable $196,000

iii. The payment of interest on January 1, 2023:

Interest Payable $196,000 Cash $196,000

iv. Accrual of interest and amortization of the premium on December 31, 2023:

Interest expense $179,426 Premium Amortization $16,574 Interest Payable $196,000

3 0
3 years ago
The interest accrued on $7,500 at 6% for 90 days is:
Oksi-84 [34.3K]
405,000
HOPE THIS HELPS!!!!!!! ;-)
3 0
4 years ago
At the year-end, Encore Company has a product for inventory that was purchased at a cost of $23. The product's expected selling
allsm [11]

Answer:

$21

Explanation:

As we know that

The inventory should be recorded in the books of accounts by applying the lower value of cost or net realizable value

In the given case

The cost is $23

And, the net realizable value is

= Expected selling price - selling cost

= $36 - $15

= $21

So by comparing the cost and net realizable value, the net realizable value contains the lower value i.e $21 and the same is recorded on the balance sheet for inventory

6 0
3 years ago
Andrea and Phillip have been married for two years when they walk into the local State Farm agent's office. They see a banner (w
Amanda [17]

Answer:

$343

Explanation:

Andrea and Phillip's annual premium cost can be calculated using the cost per thousand formula:

cost per thousand = annual premium / thousands of coverage

  • cost per thousand = $0.98
  • thousands of coverage = $350,000 / $1,000 = 350

$0.98 = annual premium / 350

annual premium = $0.98 x 350 = $343

5 0
3 years ago
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