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vichka [17]
3 years ago
15

Pretzelmania, Inc., issues 6%, 10-year bonds with a face amount of $63,000 for $58,523 on January 1, 2018. The market interest r

ate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31.
Record the bond issue and first interest payment on June 30, 2018.
Business
1 answer:
Mamont248 [21]3 years ago
4 0

Answer:

Please refer to the below for Journal entries

Explanation:

The journal entries are seen below

1. Cash A/c Dr $58,523

Discount on bond payable A/c Cr $4,477

To bonds payable A/c Cr $63,000

(Being the issuance of bond that is recorded)

2. Interest expense A/c Dr $2,048

To discount payable A/c Cr $158

To cash A/c Cr $1,890

(Being the first interest payment that is recorded)

Note:

Interest expense

= $58,523 × 7% × 6 months ÷ 12

= $2,048

Cash

= $63,000 × 6% × 6 months ÷ 12

= $1,890

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Compare the world population index for 1960 to the world population index for 2000. then express the world population in 2000 as
kirill115 [55]

The answer is 200%.

If we see the world population index and compare the population in 1960 and 2000, we see that population in 2000 is double than 1960. 

World population in 1960 = 3,007,751

World population in 2000 = <span>6,104,538 which is approximately double than 1960.</span>

So when we express it as percentage multiply 2 with 100 and we get the percentage 200.

 

5 0
3 years ago
Explain about New product pricing strategy
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7 0
2 years ago
The following facts apply to the pension plan of Culver Inc. for the year 2017. Plan assets, January 1, 2017 $495,100 Projected
tiny-mole [99]

Answer and Explanation:

The preparation of pension worksheet is shown below:-

                      General Journal entries

Particulars             Annual pension    Cash    Pension Assets/

                                   expenses                         Liabilities

Service cost             $43,700 Dr.

Interest cost              $39,608 Dr.

                              (495,100 × 8%)

Actual return             $52,100 Cr.

Contributions                                       $26,600 Cr.

Journal Entry 31 Dec  $31,208 Dr.      $26,600 Cr.   $4,608 Cr.

Balance 31 Dec 217                                                      $4,608 Cr.

                                       Memo record

                                 Projected benefit obligation        Plant assets

Balance Jan 1 2017     $495,100 Cr.                                 $495,100 Dr.

Service cost                 $43,700 Cr.

Interest cost              $39,608 Cr.

                              (495,100 × 8%)

Actual return                                                                    $52,100 Dr.

Contributions                                                                  $26,600 Dr.

Benefits                    $36,500 Dr.                                   $36,500 Cr.

Balance 31 Dec 217    $541,908 Cr.                                 $537,300 Dr.

4 0
3 years ago
Calculation of Cost of Goods Sold: Periodic Inventory System with Sales Returns and Allowances
andrey2020 [161]

Answer:

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Explanation:

From the beginning inventory we add up purchase and freight cost and subtract the return made to the suplier and discount and allowance granted.

This will be the total cost available for sale.

Then we subtract the ending inventory to get the COGS

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+ 78,000 purchases

+      350 freight-in

-   3,900 return and allowance

<u>-   6,000 </u>discount  

 95,450   good available for sale

<u>- 22,000 </u>ending inventory

 73,450  COGS

The sales return impact the sales revenue not the COGS

7 0
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yulyashka [42]
<span>A public debt owed to foreigners can be burdensome because B) payment of interest reduces the volume of goods. This can usually be seen illustrated in the form of a nation lending another nation money. The debt is public because the whole nation takes it on. The lending nation then is lacking in terms of use by the lending nation.</span>
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