1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
tresset_1 [31]
3 years ago
8

On January 1, 2020, Pharoah Corporation redeemed $640,000 of bonds at 99. At the time of redemption, the unamortized premium was

$19,200. Prepare the corporation’s journal entry to record the reacquisition of the bonds.
Business
1 answer:
marusya05 [52]3 years ago
7 0

Answer:

The Journal entry is as follows:

Bonds Payable A/c Dr. $640,000

Premium on Bonds Payable A/c Dr. $19,200

               To Gain on Redemption of Bonds            $25,600

               To Cash                                                       $633,600

(To record the re-acquisition of the bonds)

Working notes:

Cash = $640,000 × 0.99

         = $633,600

You might be interested in
When you construct the replicating portfolio for the option in the previous question how many dollars do you need to invest in t
netineya [11]

Answer: The same amount of dollars

When it comes to the financial level, a replicating portfolio as the name implies, is a repetition of specific flows of a given asset, so it must be constituted with the same resources. In this case, the same amount of cash would be needed to create the replica.

4 0
3 years ago
The following information was obtained from MCB​ Manufacturing, Inc.:Advertising Costs $9,900Indirect Labor 53,000CEO's Salary 6
Eddi Din [679]

Answer:

The MCB Manufacturing's total product costs is $170,560

Explanation:

The computation of the total product cost is shown below:

Total product cost = Indirect Labor + Direct Labor + Indirect Materials Used + Direct Materials Used  + Factory Utilities + Factory Janitorial Costs + Manufacturing Equipment Depreciation

= $53,000 + $40,000 + $7,500 + $65,000 + $760 + $1,200 + $3,100

= $170,560

Thus, the product cost is that cost which includes all types of direct and the indirect costs which are used to ready the product.

8 0
3 years ago
Failure of a VITA/TCE volunteer to comply with the Volunteer Standards of Conduct could result in which of the following?a.The v
N76 [4]

Answer:

D: All of the above

Explanation:

D. All of the above may be considered an appropriate action depending on the type of violation and the sponsoring partner’s corrective actions.

Failure to comply with these standards could result in, but is not limited to, the following:

• Your removal from all VITA/TCE Programs;

• Inclusion in the IRS Volunteer Registry to bar future VITA/TCE activity indefinitely;

• Deactivation of your sponsoring partner’s site VITA/TCE EFIN (electronic filing ID number);

• Removal of all IRS products, supplies, loaned equipment, and taxpayer information from your  site;

• Termination of your sponsoring organization’s partnership with the IRS;

• Termination of grant funds from the IRS to your sponsoring partner; and

• Referral of your conduct for potential TIGTA and criminal investigations

7 0
3 years ago
A straight-line production possibilities frontier assumes Group of answer choices the more resources a society uses to produce o
liubo4ka [24]

Answer:

the opportunity cost of producing a good is constant as more and more of that good is produced

Explanation:

In the case of the  production possibilities frontier i.e. on the straight line presumes that the opportunity cost for generating the good should be the similar or constant when the more and more goods are generated or produced

So as per the given options, the above statement should be selected

And, the same is to be relevant

5 0
3 years ago
How do you make someone a brainly?
Anvisha [2.4K]
The brainliest or a brainly account?
4 0
3 years ago
Other questions:
  • Why is looking at cash flow an important step in a good financial plan?
    11·1 answer
  • The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods invent
    6·1 answer
  • What protocol, developed by Netscape in 1994, is designed to create an encrypted data path between a client and server that coul
    10·2 answers
  • one reason a company might prefer FDI over exporting. presence or threat of trade barriers costs of acquiring a foreign enterpri
    5·1 answer
  • EX 7.13. Create an interface called Visible that includes twomethods: makeVisible and makelnvisible. Both methods should takeno
    9·1 answer
  • The right to trade an investment over a certain period of time is called a(n):
    5·1 answer
  • Goleman sorts leadership styles into six categories. In order for a leader to get results, different styles are used for differe
    5·1 answer
  • why would an email rule memo like this work better as an innovation driven company such as Tesla rather than at a manufacturing
    9·1 answer
  • Is a savings account safe for than investing in stock market
    5·1 answer
  • Economics can be divided into microeconomics and macroeconomics. One of these areas studies large units or groups and one studie
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!