1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Aneli [31]
3 years ago
5

National Storage issued $90 million of its 10% bonds on April 1, 2018, at 99 plus accrued interest. The bonds are dated January

1, 2018, and mature on December 31, 2035. Interest is payable semiannually on June 30 and December 31. What amount did National receive from the bond issuance?
Business
1 answer:
Ahat [919]3 years ago
3 0

Answer:

The total amount of cash  received is $91,350,000

Explanation:

The amount of cash proceeds realized from the bond issuance is the 99% of face value of $90 million plus the coupon interest due from January 2018(date of the bond) to April 1 ,2018(the date of bond issuance),that is three months of coupon interest payment.

The bond proceeds is computed as below:

Discounted bond price 99%*$90,000,000            =$ 89,100,000

Three months of interest 10%*$90,000,000*3/12   =$2,250,000

Total amount received from bond issue                    $91,350,000

You might be interested in
Kenny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $7
professor190 [17]

Answer:

$33,540,000

Explanation:

initial investment:

  • opportunity cost of land (resale price of land) = $10,700,000
  • building cost of the facilities = $21,900,000
  • other expenses related to the site (grading) = $940,000
  • total $33,540,000

The purchase cost of the land is considered a sunk costs, since it is not relevant now. What is relevant is the price at which the land could be sold at the moment of starting the project.

7 0
3 years ago
Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes:
navik [9.2K]

Answer:

Entries are given

Explanation:

We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.

Account                                                         DEBIT           CREDIT

1

raw material inventory                            300,000  

accounts payable                                                     300,000

                 -

2

work in process inventory- Mixing       210,000                   -  

work in process inventory- Packaging        45,000  

raw material inventory                                               255,000

                 -  

3

Factory payroll                                      258,900                   -  

Wages payable                                                      258,900

                 -  

4

work in process Labor- Mixing              182,500                   -  

work in process Labor Packaging       76,400  

Factory payroll                                                       258,900

                 -  

5

Manufacturing overhead                      810,000                   -  

overhead payable                                                       810,000

                 -  

6

work in process Mixing                             672,000                   -  

work in process Packaging                      144,000  

Manufacturing overhead                                        816,000

                 -  

7

work in process Labor Packaging          979,000                   -  

work in process Labor- Mixing                               979,000

                 -  

8

Finished goods                                  1,315,000                   -  

work in process Labor Packaging                                   1,315,000

                 -  

9

Accounts receivable                             2,500,000                   -  

Sales                                                                                 2,500,000

                 -  

Cost of goods sold                           1,604,000                   -  

Finished goods                                                      1,604,000

4 0
3 years ago
Without prejudice to your solution to part (a), assume that you computed the June 30, 2020, inventory to be $60,480 at retail an
nataly862011 [7]

Answer:

The June 30, 2020, inventory at the June 30 price level under the dollar-value LIFO retail method:

$65,318.40

Explanation:

a) Data and Calculations:

June 30, 2020 Inventory = $60,480 at retail

Ratio of cost to retail = 68%

Inventory at cost = $41,126.40 ($60,480 * 68%)

General price level increase from 100 to 108

Inventory at the June 30 price level under the dollar-value LIFO retail method:

Inventory at cost = $44,416.50 ($41,126.40 * 108/100)

Inventory at retail = $65,318.40 (44,416.50/68%)

3 0
3 years ago
when ben & jerry’s ice cream tests all its proposed new flavors on its own employees at its corporate headquarters in vermon
gtnhenbr [62]

Answer:

lol I did it so I just won’t you get back lol bye bye lol lo but it’s 76

Explanation:

4 0
3 years ago
Unearned revenue is reported on the balance sheet as a liability and represents amounts paid to an entity in exchange for future
BartSMP [9]

Answer:

True

Explanation:

Unearned revenue is cash received from a customer before goods are delivered or services offered. It is an amount received for work that is not yet done. Unearned revenue is a liability to the business. It may also be called deferred revenue.

As per the accruals principle, revenue is recognized when the time when an economic activity that generates income has happened. A sale of either a service or good has to happen, or the business has to incur an expense. A payment whose work is yet to be done is not recognized as revenue. The journal entry is to debit to the cash account and credit the unearned revenue account.

6 0
3 years ago
Other questions:
  • The following data relate to direct labor costs for the current period:
    13·1 answer
  • What is the first step in consumer decisions-making process?
    6·1 answer
  • Lori's Company has the following​ items: cash in a checking​ account, $ 6 comma 000​; cash in a savings​ account, $ 9 comma 000​
    13·2 answers
  • Robin is working with a little autistic boy, trying to increase the amount of eye contact he can provide. She says, "Look at me.
    13·1 answer
  • Companies benefit from employee balance because, compared to poorly balanced employees, well balanced employees __________. a. S
    6·2 answers
  • If a firm in a monopolistically competitive market lowers price, then Use letters in alphabetical order to select options
    11·2 answers
  • On January 1, 2014, Evers Company purchased the following machine for use in its production process:
    14·1 answer
  • The financial statements for Highland Corporation included the following selected information:
    5·1 answer
  • Reflect on a time when you recently traded or bought an item. Describe this exchange, using the following economic terms: volunt
    5·1 answer
  • Which site would the nurse assess first for the amount of drainage from a client discharged from the postanesthesia care unit (p
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!