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
Snowcat [4.5K]
3 years ago
10

Porter Incorporated issued $210,000 of 6 percent, 10-year, callable bonds on January 1, Year 1. The bonds were issued at their f

ace value. The call premium was 2 percent (bonds are callable at 102). Interest was payable annually on December 31. The bonds were called on December 31, Year 5. Required Prepare the journal entries to record the bond issue on January 1, Year 1, and the bond redemption on December 31, Year 5. Entries for accrual and payment of interest are not required.
Business
1 answer:
pshichka [43]3 years ago
7 0

Answer:

Jan. 1

Dr Cash $210,000

Cr Bonds Payable $210,000

Dec. 31

Dr Loss on Bond Redemption $4,200

Bonds Payable $210,000

Cr Cash $214,200

Explanation:

Porter Incorporated Journal entries

Jan. 1

Dr Cash $210,000

Cr Bonds Payable $210,000

Dec. 31

Dr Loss on Bond Redemption $4,200

Bonds Payable $210,000

Cr Cash $214,200

(102%×$210,000=$214,200)

You might be interested in
pryor frosted flakes company offers its customers a pottery cereal bowl if they send in 4 boxtops from flakes boxes and $1.00. T
trasher [3.6K]

Answer: $30,000

Explanation:

Company estimates that 60% of boxtops will be redeemed.

They sold 500,000 boxes

= 500,000 * 60%

= 300,000 boxtops will be sent in.

So far, 220,000 have been sent in. How many left;

= 300,000 - 220,000

= 80,000 boxtops are still to be sent in

4 boxtops are needed to receive a pottery bowl so with 80,000;

= 80,000/4

= 20,000 pottery bowls are due to be issued.

Each bowl costs $2.50 to make.  Customers will send in $1 however so effectively it will cost the company;

= 2.50 - 1

= $1.50

With 20,000 still left to be issued, each costing $1.50, the total liabilitiy for outstanding premiums to be recorded at the end of 2007 is;

= 20,000 * 1.5

= $30,000

4 0
3 years ago
Which is the During the last stage of the purchase decision process, known as ________, a consumer compares a purchased product
Sergio039 [100]

Answer:

Post-purchase behavior

Explanation:

For both the questions the answer is same post purchase behavior. After consumer buy the product, he starts to compare the product to his expectations. And also the last stage of purchase decision is post purchase behavior. In this stage customer experience the product and starts to compare with his expectations. If it fulfill his expectations then he will buy it again otherwise he will switch to some other product.

6 0
3 years ago
Read 2 more answers
For most accounting positions, the minimum educational requirement is
Archy [21]
It’s c I had this problem a week ago
3 0
3 years ago
Which BCBS program allows members of independently owned and operated plans to have access to health care benefits throughout th
Kaylis [27]

Answer:

b. Away From Home Care Program®

Explanation:

PLEASE MARK ME AS BRAINLIEST AND HAVE A NICE DAY :)

5 0
2 years ago
Read 2 more answers
A ________ structure is an organizational structure that assigns specialists from different functional departments to work on on
Oksi-84 [34.3K]

A matrix structure is an organizational structure that assigns specialists from different functional departments to work on one or more projects.

<h3>What is a matrix?</h3>
  • Teams in a matrix organization report to several leaders inside the business.
  • The matrix structure promotes open communication between teams and can assist businesses in producing more creative goods and services.
<h3>What is an organizational structure?</h3>
  • An organizational structure outlines how tasks are assigned, coordinated, and overseen in order to achieve organizational objectives.
  • The basis upon which standard operating procedures and routines are built is provided by organizational structure.
  • It decides who gets to take part in what decision-making procedures and how much their opinions influence the organization's activities.
  • The lens or perspective that people use to perceive their organization and its surroundings is known as the organizational structure.

Therefore, a matrix structure is an organizational structure that assigns specialists from different functional departments to work on one or more projects.

Know more about organizational activities here:

brainly.com/question/4269555

#SPJ4

5 0
2 years ago
Other questions:
  • Bison Autos and Sparrow Co. are automobile manufacturers that both incur $9,000 to manufacture a vehicle. Recent numbers indicat
    15·1 answer
  • The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $7,134. 2. July bank service charge not
    14·1 answer
  • I need to know the total monthly payment
    12·1 answer
  • Scenario C. Parker Brothers is a high-end furniture manufacturer located in the Midwest, Mr. Herbert "Bud" Parker started the fi
    12·1 answer
  • To get his company through some hard economic times, Ben's working hours have just been reduced from 40 hours a week to 33. Ben
    8·1 answer
  • Presented below are incomplete manufacturing cost data.
    15·1 answer
  • Using the following accounts and an overhead rate of 80% of direct labor cost, determine the amount of applied overhead. Work in
    9·1 answer
  • An income statement reports the revenues earned minus expenses incurred by a business over a period of time.
    6·2 answers
  • Robert Company purchased $100,000 of 8 percent bonds of Evergreen Corp. on January 1, 20x1, at $92,278. The bonds mature January
    5·1 answer
  • ________ is the risk that the host government will take specific steps that prevent the foreign affiliate from exercising contro
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!