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raketka [301]
3 years ago
15

A company issued a 20-year, $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of interes

t is 5%, at what amount did the bond sell? (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.)
Multiple choices: $828, $1,686, $1,000, $893
Business
1 answer:
Kitty [74]3 years ago
4 0

Answer: $828

Explanation:

Given the following :

Semi-annual payment = $40

Period = 20 years

Number of payments = (20 * 2)(semiannual) = 40 payments

Par value = $1000

Interest rate = 5%

Using the PV table:

PV at $1 (40, 5%) = 0.1420

PVA at $1 (40, 5%) = 17.159

[Par value * PV at $1 (40, 5%)] + [$40 * PVA at $1 (40, 5%)]

= ($1000 * 0.1420) + ($40 * 17.159)

= $142 + $686.36

=$828.36

= $826

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Materials purchased on account during the month amounted to $190,000. Materials requisitioned and placed in production totaled $
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At the end of the current year, Accounts Receivable has a balance of $590,000; Allowance for Doubtful Accounts has a debit balan
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a. The computation of uncollectible accounts and Journal entry is shown below:-

Bad Debt expenses Dr, $6,650

($2,660,000 × 1 ÷ 4× 1%)

       To Allowance for doubtful accounts $6,650

(Being uncollectible accounts is recorded)

b. The computation of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense is shown below:-

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6 0
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