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Alenkasestr [34]
3 years ago
5

8. Cracked Mirror, a local rock group, contracts to play for your high school prom. A week before the

Business
1 answer:
Artyom0805 [142]3 years ago
3 0

Answer: The amount of money that they were paid for the high school prom. This is because that's the amount that has been sent on the band.

Explanation:

From the question, we are informed that Cracked Mirror, a local rock group, contracts to play for your high school prom and that a week before the

dance, the group cancels its appearance.

We are further told that a teacher finds out that the band has instead booked a

concert elsewhere at the same time as the prom that will pay them $800 more.

Based on the above information, if the band for damages, the appropriate amount would be the amount that they were paid for the high school prom. This is because that's the amount that has been sent on the band.

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Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Chin Company issu
lyudmila [28]

Answer:

The answer to the question is as attached  

Explanation:

a. The total credit matches the debit in a total of  $16,600,000

b. Cash $$15989036    

Discount on bonds payable (16600000 -15989036)    $610964

Bonds payable  $16600000

(To record issuance of bonds)  

b) Interest expense 825000+610964= $1435964

Discount on bonds payable 610964/11=  $55542

Cash 16600000*11%*6/12=   $913000‬

(To record discount amortized and interest paid)  

c) Interest expense 825000+55542=  $880542  

Discount on bonds payable 610964/11=   $55542

Cash 16600000*11%*6/12=   $913000  

Download xlsx
5 0
3 years ago
A discount bond is also called a ________ because the owner does not receive periodic payments.
a_sh-v [17]

A discount bond is also called a <u>zero coupon bond</u> because the owner does not receive periodic payments.

A discount bond is a bond that is issued for much less than its par—or face—fee. discount bonds can also be a bond currently trading for less than its face cost inside the secondary market. A bond is considered a deep-cut price bond if it's far bought at a substantially decrease price than the par fee, normally at 20% or more.

A zero-coupon bond is a bond that pays no interest and trades at a reduction to its face price. It is also known as a natural cut price bond or deep cut price bond. U.S. Treasury payments are an example of a 0-coupon bond.

Coupons are the promised hobby payments of a bond, paid periodically till the adulthood date of the bond. The coupon rate determines the quantity of every coupon fee of a bond. The coupon rate, expressed as an APR, is about by using the issuer and said on the bond certificate.

Learn more about discount bonds here brainly.com/question/16748047

#SPJ4

3 0
1 year ago
A privately owned summer camp for youngsters has the following data for a 12-week session: Charge per camper Fixed costs Variabl
shtirl [24]

Answer:

Results are below.

Explanation:

Giving the following information:

Fixed costs= $192,000

Unitary variable cost= $320 per week

Selling price per unit= $480 per week

<u>To calculate the total cost, we need to use the following formula:</u>

Total cost= fixed costs + unitary variable cost*number of units

Total cost= 192,000 + 320*number of weeks

<u>Now, the total revenue:</u>

Total revenue= selling price per week*Number of weeks

Total revenue= 480*x

<u>Finally, the break-even point in units:</u>

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 192,000 / (480 - 320)

Break-even point in units= 1,200 campers

3 0
3 years ago
Holly would like to plan for her daughter’s college education. She would like for her daughter, who was born today, to attend co
Ugo [173]

Answer:

Holly must save $2845.81 at the end of each year

Explanation:

first calculate the value of tuition fees at n = 18

Cash flow formula = Tuition × (1+0.07)^{n}

Discounted CF formula = Cash flow ÷ (1+0.10)^{year}

               10.00%              0

Year   Cash flows   Discounted CF

0           33,799.32  33799.32

1          36,165.28  32877.52

2          38,696.84  31980.86

3          41,405.62  31108.66

FV = $129,766.37

PV = 0

N = 18

rate = 10%

using PMT function in Excel

Annual contribution = $2845.81

4 0
3 years ago
On January 1, Year 1, Savor Corporation leased equipment to Spree Company. The lease term is 9 years. The first payment of $698,
Lelu [443]

Answer:

The interest revenue will Savor record in Year 1 on this lease at 9% is $347,697

Explanation:

Present value of Lease Payment = $4,561,300

Less: First Payment on Jan 1, 2018 = $698,000

Remaining Balance = $3,863,300

Interest Revenue for Year 1 at 9% = $3,863,300 × 9%

Interest Revenue for Year 1 at 9% = $347,697

8 0
3 years ago
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