Answer:
the amount reported as proceeds from bond issuance is $4,509,000
Explanation:
The computation of the amount reported as proceeds from bond issuance is as follows
Total Bond Issued during 2021
= Bonds payable, December 31, 2021 - Bonds payable, January 1, 2021 + Bond Payable retired
= $4,830,000 - $809,000 + $807,000
= $4,828,000
Now
Bond issued for cash is
= Total bond issued - Bonds issued in exchange for Equipment
= $4,828,000 - $319,000
= $4,509,000
Hence, the amount reported as proceeds from bond issuance is $4,509,000
Answer:
Net income for the current period is $2,350.
Explanation:
Calculation of Net Income for the Current Period.
$ $
Fees earned 7,250
Less Expenses :
Rent expense 1,300
Salaries expense 2,300
Utilities expense 345
Insurance expense 650
Supplies expense 115
Depreciation expense—equipment 190 (4,900)
Net Income / (Loss) 2,350
Answer:
Dealers profit comes from the spread primarily. Spread is the differential amount between buying and selling.
Explanation:
Let us assume the price of security X is USD 100 (last trade price)
A dealer will purchase this security at discounted price from the investor say USD 99 and will sell the same security in the market at USD 100, thus earning spread.
Further being market markers, dealers often use multiple strategies to prop up the price of particular security and earn gains on inventory held.
Answer:
C. Variable inflation is associated with high transaction costs
Explanation:
Because of uncertainty about future inflation, it may not uncertain relative to its price change. Therefore, option A is not correct.
In order to maximize financial position, inflation harms borrowers and helps lenders, so option B is also incorrect.
Option C is correct because variable inflation is associated with high transaction costs in order to maximize the financial position. For example, if the inflation rate is 5% during first quarter, the price level is not much to disrupt the financial position. Again, in the next quarter, if the inflation rate changes to 4%, the position will be effective more. However, if it increases, it will not affect too much.
Answer:
D $88410
Explanation:
Work in progress includes all the raw materials, direct labour and conversion costs incurred so far excluding cost of goods sold .
WIP= Intial WIP +Manufacturing costs incurred- Cost of goods sold.
The WIP inventory at the begining of the period is given as nil.
WIP during the period = (95000*80%)+56000+13600+107000
=252600(but it was given that 65% of the Process was completedi.e., finished goodswhich are not the part of the WIP inventory ; hence the remaining 35% is the Work in process inventory)
=$ 88410.
Further the remaining raw material 20% = 95000*20% shall not comprise a part of the WIP as it has not been brought into process itself , it shall lie in raw materials inventory itself.It shall be counted into the WIP once it is brought into the manufacturing assembly line.
