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bagirrra123 [75]
3 years ago
9

XYZ DebenturesIssue Date: 8-1-XXPayment Dates: J 1 & J 1Maturity Date: 7-1-XXSome years after issuance, a customer buys 10 d

ebentures in a regular way trade on Thursday, October 12th. The customer will owe the seller:________A. 103 days of accrued interestB. 105 days of accrued interestC. 106 days of accrued interestD. 107 days of accrued interest
Business
1 answer:
SashulF [63]3 years ago
4 0

Answer:

B. 105 days of accrued interest

Explanation:

The purchase on Thursday, October 12th will settle on Monday, October 16th - 2 business days after trade date.  

Accrued interest on corporate bonds is based on a 30days per month/360 day year.

And interest starts accruing from the day of the last interest payment, up to, but not including, settlement.

See below for day calculation

July   30 days

August  30 days

September 30 days

October  15 days (up to but excluding settlement)

Total  105 days

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Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed
Brrunno [24]

Answer:

Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed manufacturing overhead costs $ 266,420 Fixed component of the predetermined overhead rate $ 34.60 per machine-hour Actual level of activity 7,900 machine-hours Standard machine-hours allowed for the actual output 8,200 machine-hours Actual fixed manufacturing overhead costs $ 259,960 The budget variance for February is $6,460 Favorable.

Explanation:

Budgeted fixed manufacturing overhead cost = $266,420.

Actual fixed manufacturing overhead costs  = $259,960

The budget variance for February is calculated as below:

Budget Variance = Actual Fixed Manufacturing Overheads - Budgeted Fixed Manufacturing Overheads

Budget Variance =$259,960 - $ 266,420.

Budget Variance = -$6,460

Budget Variance = $6,460 Favorable

7 0
3 years ago
"A municipality has a tax rate of 18 mills. A piece of real property in the municipality is assessed at $180,000 and has a fair
White raven [17]

Answer:

$3,240

Explanation:

Calculation for the annual tax liability on the property

Using this formula

Annual tax liability= (Tax rate× Real property )

Where= Tax rate =18 million

Real property=180,000

Let plug in the formula

Annual tax liability=( .018x180000)

Annual tax liability=$3,240

Therefore the annual tax liability on the property is $3,240

5 0
3 years ago
Sarbanes-Oxley does not require:
Novosadov [1.4K]

Answer:

B) companies to turn over responsibility for establishing and maintaining internal controls for financial reporting to auditors.

Explanation:

Sarbanes- Oxley is popularly called SOX and  which is also know as the ''Public Accounting Reform and Investor Protection Act'' in the United States' Senate and ''Corporate and Auditing Accountability, Responsibility and Transparency Act'' is a USA federal law the sets out new regulations for all U.S public company boards, management and public accounting firms. Some part of the Act makes provisions that apply to privately owned companies.

The Sarbanes-Oxley is named after the bill sponsors that is Senator Sarbanes and a U.S Representative known as Micheal G. Oxley and this bill makes sure that the top management of a company must each individually determine and certify the accuracy of all financial information provided or stated. This bill was enacted in 2002 to curb a number of major corporate accounting scandals, especially those affecting big accounting firms like ;  Enron, Tyco International, Adelphia, Peregrine Systems, and WorldCom that cost investors to loose a lot of money when the their shares collapsed.

As a guiding principal companies and organizations are supposed to adhere to the options mentioned above except for option B which states:  companies to turn over responsibility for establishing and maintaining internal controls for financial reporting to auditors.

5 0
3 years ago
Two types of business communications enhanced by desktop publishing are
laila [671]
Internal and external are two types of business communications enhanced by desktop publishing. 
This is to improve both internal and external communication process of a business and become more productive.
7 0
3 years ago
Rhonda, a junior accountant at a manufacturing company, was laid off from her job because she rejected multiple requests from th
Shtirlitz [24]

Answer: quid pro quo sexual harassment

Explanation:

The scenario represented in the question regarding Rhonda and her company's chief financial officer is referred to as quid pro quo sexual harassment.

Quid pro quo sexual harassment is a situation that occurs when benefits, pay, employment, position, training, title, position are based on the condition that the other individual involved agree to ones sexual advances. It should be noted that this is illegal.

6 0
3 years ago
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