Answer:
(a) Journalize the payment of the bond interest on January 1, 2022.
Dr Interest payable - bonds payable 40,400
Cr Cash 40,400
The interest expense on the bonds payable should have been accrued on the 2021 balance sheet, that is why we debit interest payable and not interest expense.
(b) Assume that on January 1, 2022, after paying interest, Blossom calls bonds having a face value of $100,000. The call price is 103. Record the redemption of the bonds.
Dr Bonds payable 100,000
Dr Call premium 3,000
Cr Cash 103,000
(c) Prepare the adjusting entry on December 31, 2022, to accrue the interest on the remaining bonds.
interest expense = $405,000 x 8% = $32,400
Dr Interest expense - bonds payable 32,400
Cr Interest payable - bonds payable 32,400
An example of secondary packaging would be the plastic rings that hold a six-pack of cans together or the cardboard box that holds a case of cans together. Other examples would be a box containing smaller boxes of batteries, or a large box of items intended for individual sale.
Packaging is the science, artwork, and generation of enclosing or shielding products for distribution, garage, sale, and use. Packaging also refers to the technique of designing, evaluating, and generating packages.
Packaging way overlaying the product itself so that it's far included from damage, leakage, dust, pollution, contamination, and so on. Examples – candies packaged in skinny sheets, milk packaged in sachets, etc. Packing way putting all of the applications in a massive field, container, chest, crate, etc.
The primary reason of packaging is to protect its contents from any harm that might appear throughout transport, coping with, and storage. Packaging keeps the product intact in the course of its logistics chain from producer to the give-up user. It protects the product from humidity, light, heat, and different external elements.
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Answer:
b. changes in the same direction and in direct proportion to changes in operating activity.
Explanation:
Variable costs rise whenever production increases and falls whenever it decreases. This relationship shows that variable cost is a direct function of production volume. Examples are labor, packaging, raw materials, as these are utilized in a company's manufacturing process.
They are different from fixed costs as the latter remain the same irrespective of the volume of production your business generates. Fixed costs are also predetermined ,hence remain the same throughout a specific period.
Answer:
Debit Unearned revenue $1,000
Credit Service revenue $1,000
Explanation:
When cash is received in advance for service yet to be provided, an asset and a corresponding liabilities are created.
The liability is then reduced as the revenue for which cash was collected in advance is earned.
Given that the December 31, 2018 receipt of $3,000 from race participants for providing services for three races. One race is held on January 31, 2019 and the other two will be held in March 2019.
Revenue from one race = 1/3 × $3,000
= $1,000
Since One race is held on January 31, 2019, entries required
Debit Unearned revenue $1,000
Credit Service revenue $1,000
Being entries top recognize revenue earned from the race held on January 31, 2019 .
It cost publishers 125 thousand dollars last year
(please forgive me if this is wrong)