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3 years ago

EA6.

Business

1 answer:

vodomira [7]3 years ago

6 0

Answer:

$750

Explanation:

The formula for determination of beginning inventory is given below:

Cost of goods sold=opening inventory+purchases-closing inventory

Cost of goods sold=$2,000

Purchases=$2,250

closing inventory=$1,000

Opening inventory=Cost of goods sold+closing inventory-purchases

=2,000+1,000-2,250

=$750

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A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2012. Interest is paid on June 30 and December 31. T

mezya [45]

Answer:

Interest Expense for 2017 is $1,176,373

Explanation:

Interese Expense to be recognized in 2017 is $1,176,373

Interest Expense for Jan-Jun = $14,703,108 * 8%/2 = $588,124

Amortization of Discount= ($14,703,108 * 8%/2) - ($15,000,000* 7.8%/2)

= $588,124 - $585,000 = $3,124

Carry Amount of Bond on June 30 = $14,703,108 + ($14,703,108 * 8%/2) - ($15,000,000* 7.8%/2)

= $14,703,108 + $588,124 - $585,000 = $14,706,232

Interest Expense for Jun-Dec= [$14,703,108 + ($14,703,108 * 8%/2) - ($15,000,000* 7.8%/2)] *8% /2

= ($14,703,108 + $588,124 - $585,000) *8% /2

= $14,706,232 *8% /2 = $588,249

Interest Expense for 2017 = $588,124 + $588,249 = $1,176,373

7 0

3 years ago

Cheyenne has a home insured for $300,000. It would cost $320,000 to rebuild her home. If she has home insurance that provides pe

Veseljchak [2.6K]

Answer:

E) $210,000

Explanation:

In his case, Cheyenne has a policy that covers actual cash value which means that the insured policy is valued by a percentage of the insured amount. In this case, the policy covers 70% of the insured amount = $300,000 x 70% = $210,000.

The other method valuing insured property is the replacement cost which considers the value of replacing an existing construction.

5 0

3 years ago

Maxxie purchased a tract of land for $24,500. Today, the same land is worth $43,800. How many years have passed if the price of

sp2606 [1]

Answer:

9.35 years

Explanation:

To find the numbers of years that have passed, you can use the following formula:

n = ln(FV / IV)/ln(1 + r)

n= number of periods

FV= Future value= $43,800

IV= Initial value= $24,500

r= rate= 6.4%

n=ln(43,800/24,500)/ln(1+0.064)

n= ln1.79/ln1.064

n=0.58/0.062

n= 9.35

According to this, 9.35 years have passed.

4 0

2 years ago

Last year, wesson company sold 10,000 units of its only product. if sales increase by 12% in the current year, how will unit var

fredd [130]

Variable cost vary in direct proportion to business volume (quantity sold or quantity produced)

Fixed cost remain constant regardless of sales or manufacturing volume.

According to question if sales are increased by 1200 units.current year sale will be 11200 unit .

Suppose Wesson have a variable cost of $6 per unit and fixed cost of $1000.

Cost of 10000 units are :-

Variable cost is 60000(10000*6)

Fixed cost is 1000.

Cost of 11200 unit are :-

Variable cost is 67200(11200*6)

Fixed cost is 1000

So if sales are increased by 12%. Variable cost are increased by 12%(67200-60000). Fixed cost remain the same at 1000 regardless of sales increased

Therefore,

Variable cost increases, Fixed cost remains constant. Answer is choice (e)

8 0

3 years ago

Read 2 more answers

Joshua is 25 years old and has a high risk job making $72,000 a year. The insurance company charges him an extra 20% on top of h

klio [65]

The correct answer is D. The annual premium for the cheapest policy is $6,644.

A life insurance policy can pay out in the event of the insured's death, whether or not before a specific date, or if the insured is alive on a specific date.

A life insurance policy can also be a mixture of both, in that case it pays out both when you are alive and when you die earlier. Finally, a life insurance policy can provide a periodic payment as long as the insured person is alive or precisely from the moment the insured person dies.

Learn more about insurance in brainly.com/question/13293881

4 0

2 years ago