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ivolga24 [154]
3 years ago
7

Alexi Co. issued $2.50 million face amount of 8%, 10-year bonds on June 1, 2019. The bonds pay interest on an annual basis on Ma

y 31 each year.
Required:
a. Assume that the market interest rates were slightly higher than 9% when the bods were sold. Would the proceeds from the bond issue have been more than, less than, or equal to the face amount? Explain
b. Independent of your answer to part a, assume that the proceeds were $2,134,000. Use the horizontal model to show the effect of issuing the bonds. Indicate the financial statement effect. (Enter your answers in whole dollars, not in millions. Enter decreases with a minus sign to indicate a negative financial statement effect.)
Business
1 answer:
GuDViN [60]3 years ago
7 0

Answer:yup

Explanation:

Yup

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uestion 31 Oriole Company has the following inventory data: July 1 Beginning inventory 114 units at $19 $2166 7 Purchases 399 un
lina2011 [118]

Answer:

$7,714

Explanation:

The computation of the cost of good sold under LIFO method is shown below

But before that following calculations need to be done

Goods sold = Beginning inventory + Purchases - Ending inventory

= 114 + (399 + 57) - 190

= 380 units

Now 380 units sold would include 57 units of July 22 purchases and balance i.e. (380-57)  323 units of July 7 purchases

So, cost of goods sold

= (57 × 22) + (323 ×20)

= $7,714

7 0
3 years ago
FTYZ Transport Inc. was supposed to pay wages amounting to $1,500 in March, which was the last month of its accounting period. H
leva [86]

Answer: Wages account debit

Wages payable account credit

Explanation:

Sdjusting entries are simply referred to as the journal entries that are made when the accounting period ends such that there is allocation of the income and the expenditure incurred by the economic agent to the period in which the income and the expenditure occurred.

In this case, the adjusting journal entry passed by the accountant will be to debit the wages account by $1500 and then credit the wages payable account by $1500.

7 0
3 years ago
Education is the basic requirement for profession.Explain this statement​
True [87]

Answer:

The answer is below

Explanation:

Education is considered the basic requirement for the profession because, through education, people get to learn the basic knowledge required to perform a profession.

For example, a medical doctor or physician profession requires education in core biological science subjects such as microbiology, human anatomy, medical rehabilitation, dentistry, etc.

Education gives the professional the knowledge to anticipate, predict, and carry out the right solution to any problem that needs to be solved under his or her profession.

For example, a civil engineer needs education in architectural and engineering drawing to translates the drawing into reality or an actual project.

5 0
2 years ago
Commodity futures contracts can be bought and sold on the open market for which reason
timama [110]

Answer:

Futures contracts are derivatives. Their price is derived from one or more underlying assets. Due to their nature as commodities, a buyer can agree to purchase at a predetermined price; and a seller can agree to sell that quantity at the agreed-upon price.

7 0
3 years ago
What is the book of first entry​
taurus [48]

Answer:

Journals

Explanation:

“books original entry refers to the accounting journals in which business transcriptions are initially recorded the information in these books are summarized and posted into a general ledger from which financial statements are produced"

3 0
3 years ago
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