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Stella [2.4K]
3 years ago
9

Metlock Co. has a held-to-maturity investment in the bonds of Schuyler Corp. with a carrying value of $76,700. Metlock determine

d that due to poor economic prospects for Schuyler, the bonds have decreased in value to $65,000. It is determined that this loss in value is uncollectible. Prepare the journal entry, if any, to record the reduction in value.
Business
1 answer:
horsena [70]3 years ago
7 0

Answer:

For recording the reduction in value the Journal entry is shown below:-

Explanation:

The Journal entry is shown below:-

Impairment Loss Dr,                             $11,70

        To Debt Investment                                $11,70

(Being the reduction in value is recorded)

Therefore, Impairment loss is an loss and we already know that all the expenses and losses are debited and investment is an asset that shows the decrements hence it is credited.

Working note :-

Impairment loss = Carrying value - Decrease in value

= $76,700 - $65,000

= $11,700

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Kenesha Co. reported income before interest expense and income taxes of $30,000; interest expense of $3,000; and income taxes of
tiny-mole [99]

Answer:

the times interest earned ratio is 10

Explanation:

The computation of the times interest earned ratio is shown below:

Times interest earned ratio is

=  income before interest expense and income taxes ÷ interest expense

= $30,000 ÷ $3,000

= 10

hence, the times interest earned ratio is 10

We simply applied the above formula so that the correct value could come

And, the same is to be considered

3 0
3 years ago
Executive orders 12674 and 12731 form the foundation policy on the ethical conduct of Federal Employees
sladkih [1.3K]

Answer: a. Making authorized commitments

Explanation:

Executive Orders 12674 and 12731 (which amended 12674) of 1989 and 1990 respectively, were signed by President Bush with the purpose of setting forth the principles of ethical conduct that were required of Federal Government Officers and Employees.

These principles were meant to ensure that government officials and employees abstained from Abuse of power whilst working in such a way as not to bring disrepute to the Federal Government.

All of the above are violations of the Order except option A which is stated in Part I Section 101 (f) of Executive Order 12674. It reads that, "<em>Employees shall make no unauthorized statements</em>..." thus insinuating that employees are allowed to make Authorized statements.

8 0
3 years ago
which of the following home purchasing considerations would probably affect older home buyers the least
juin [17]
I'm guessing it is B because it doesn't have enough information. My reasoning is because: Just because you are buying a house doesn't mean you have kids or will have kids, and if you don't elementary school wouldn't be a factor you will consider

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4 0
3 years ago
Childress Company produces three products, K1, S5, and G9. Each product uses the same type of direct material. K1 uses 4.9 pound
Stella [2.4K]

Answer:

Childress Company

Orders for K1 should be filled first.

Orders for G9 should be filled second.

Orders for S5 should be filled third.

Explanation:

a) Data and Calculations:

                                                               K1            S5           G9

Direct materials per unit (pounds)       4.9           2.4           5.4

Materials available for production = 58,400

Selling price                                      $ 167.40  $ 99.28  $ 210.02

Variable costs                                       89.00     76.00      149.00

Contribution margin per unit           $  78.40  $ 23.28   $   61.02

Contribution margin per pound         $16          $9.70       $11.30

Orders for K1 should be filled first

Orders for G9 should be filled second

Orders for S5 should be filled third.

b) This order filling sequence will maximize the contribution margin per pound, ensuring the highest efficient use of the limited materials available for production.

3 0
2 years ago
Tricia is trying to decide how to spend her money. She adds and subtracts by a dollar to determine which combination of expenses
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