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Mekhanik [1.2K]
2 years ago
9

On January 1 of the current year, the Barton Corporation issued 8% bonds with a face value of $73,000. The bonds are sold for $7

0,810. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, five years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 is
Business
1 answer:
Goryan [66]2 years ago
8 0

Answer:

$6,278

Explanation:

The discount of issuance of bond will be amortized until period of maturity while Total interest expense on a discounted bond is the addition of amortization of the discount amount and coupon payment.

Therefore;

Coupon payment = $73,000 × 8%

= $5,840

Discount on the bond = $73,000 - $70,810

= $2,190

Discount amortized per year = $2,190/5

= $438

Total interest expense = Coupon payment + Amortization of discount

= $5,840 + $438

= $6,278

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Sales and Production Budgets Ultimate Audio Company manufactures two models of speakers, U500 and S1000. Based on the following
mixas84 [53]

Answer:

Part a

Ultimate Audio Company

<u>Sales Budget </u>

<u>For the Month Ending June 30</u>

Product and Area         Unit Sales Volume  Unit Selling Price  Total Sales

Model U500 :

Northeast Region             140,000                       $45               $6,300,000

Southwest Region            160,000                       $45               $7,200,000

Total                                                                                            $13,500,000

Model U500 :

Northeast Region            100,000                       $80               $8,000,000

Southwest Region           125,000                       $80              $10,000,000

Total                                                                                           $18,000,000

Total Revenue from Sales                                                        $31,500,000

Part b

Ultimate Audio Company

<u>Production Budget </u>

<u>For the Month Ending June 30</u>

                                                                   Model U500     Model S1000

Expected Units to be Sold                           300,000             225,000

Add Desired Closing Inventory                      30,000                15,000

Total                                                               330,000             240,000

Less Desired Opening Inventory                  (25,000)              (10,000)

Total Production                                            305,000            230,000

Explanation:

<em>Note : I have attached the complete question as images below !</em>

A Sales Budget shows the Total Expected Revenue from sale of budgeted units.

     Total Revenue = Total Expected Units Sales x Selling Price Per Unit

A Production Budget shows the number of units to be produced to meet the Sales and Inventory targets

     Total Production = Expected Sales + Desired Closing Inventory - Desired Opening Inventory

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North Company has completed all of its operating budgets.The sales budget for the year shows 50,600 units and total sales of $2,
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Answer:

Instructions are listed below.

Explanation:

Giving the following information:

The sales budget for the year shows 50,600 units and total sales of $2,317,800.

The total unit cost of making one unit of sales is $22.

Selling and administrative expenses are expected to be $304,000.

Income taxes are estimated to be $270,180.

Income statement:

Sales= 2,317,800

COGS= (22*50,600)= (1,113,200)

Gross profit= 1,204,600

Selling and administrative= (304,000)

Tax= (270,180)

Net operating profit= $630,420

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