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anastassius [24]
3 years ago
15

Kier Company issued $660,000 in bonds on January 1, Year 1. The bonds were issued at face value and carried a 5-year term to mat

urity. The bonds have a 6.00% stated rate of interest and interest is payable in cash on December 31 each year. Based on this information alone, what are the amounts of interest expense and cash flows from operating activities, respectively, that will be reported in the financial statements for the year ending December 31, Year 1?
Business
1 answer:
yuradex [85]3 years ago
3 0

Answer:

Interest Expense $39,600

Cash Flow from Operating Activities $39,600

Explanation:

Payment of Interest Expense is the cash expense paid during the year which is deducted from the operating profit in the calculation of net income which is used to determine the cash flow from operating activities.

Interest on the Bond = $660,000 x 6% = $39,600

At the time of payment Journal Entry will be as follow

Dr. Interest Expense   $39,600

Cr. Cash                       $39,600

As the cash is paid against the operating activities.

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Type the correct answer in the box. Spell all words correctly. What are the handheld devices that serve as personal information
asambeis [7]

Answer: Personal Digital Assistants

Explanation:

Personal Digital Assistants are a range of small handheld mobile devices that used to be very popular with working class people as they provide computing and storage uses which are very important in the business world for purposes such as keeping schedules and address books. They were like mini-computers that had small keyboards and sometimes a sensitive pad that could be written on.

Usually termed the 'first Smartphones', PDAs were immensely popular in the 90s and the early 2000s but have since been largely replaced by Smartphones which can perform all their duties and more.

4 0
3 years ago
4. What is one thing you can do to help remember a new business contact? Write
Zanzabum

Answer:

Explanation:

c:what type of business the person is in

that is the only logical answer lol

hope it helps

3 0
3 years ago
Billings Company has the following information available for September 2017.
kumpel [21]

Answer:

Part a

Contribution Margin = 29.95% (2 d.p)

Part b

                             Billing Company

                 CVP Income for as at September 2017

                                                      Total                      Per Unit

                                                         $                               $

Sales                                          295704                       444

Less Variable Costs                  (138084)                      (311)

Contribution                               157620                        133

Fixed Costs                                 (59850)                     89.86

Net Income                                  97770                       43.14

Part c

Billing`s break even point is 450 units

Part d

                                    Billing Company

     CVP Income for as at September 2017 - Break Even Point

                                                      Total                      Per Unit

                                                         $                               $

Sales                                           199800                       444

Less Variable Costs                  (139950)                      (311)

Contribution                                59850                        133

Fixed Costs                                 (59850)                      133

Net Income                                       0                              0

Explanation:

Part a

Contribution Margin = Contribution/Sales × 100

Therefore contribution margin is  ($444-$311)/$444 * 100 = 29.95% (2 d.p)

Part b

Sales - Variable Cost = Contribution

Net Income  =   Contribution - Total Fixed Costs                            

Part c

Break Even Point is when Billings neither makers a profit or loss.

Break Even Point ( Units) = Total Fixed Cost/Contribution per unit

Therefore Break Even Point (Units) = $59850/$133 = 450 units

Part d

The total and unit CVP should neither reflect a profit or loss at a capacity of 450 units as this is the break even point. In this case profit = nill

7 0
3 years ago
Which of the following is not a type of bank?
Andre45 [30]
Payday lender, I believe
5 0
3 years ago
Nathen’s home office
Rom4ik [11]

Answer:

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Explanation:

4 0
2 years ago
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