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
Simora [160]
2 years ago
15

On October 1, 2016, Concord Corp. issued $924,000, 7%, 10-year bonds at face value. The bonds were dated October 1, 2016, and pa

y interest annually on October 1. Financial statements are prepared annually on December 31.
Prepare a tabular summary to record the issuance of the bonds and the adjustments to record the accrual of interest on December 31, 2016.
Business
1 answer:
Advocard [28]2 years ago
8 0

Answer:

Tabular summary is attached with this answer in MS EXCEL file.

Explanation:

The journal Entries for the Transactions are as follow

                                                                         Dr.               Cr.

October 1, 2016           Cash                      $924,000

                                    Bond Payable                          $924,000

December 31 , 2016    Interest Expense  $16,170

                                    Interest Payable                       $16,170

Interest Expense = $924,000 x 7% x 3/12 = $16,170

Download xlsx
You might be interested in
A parking lot charges $2 per hour for the first 4 hours, then $3 per hour after that. Which equation(s) describes the total cost
Ivenika [448]

Answer:

there are no options but i would say it’s probably close to y= 8 + 3x

5 0
3 years ago
The government uses the revenue from taxes to pay for goods and services for the community.
tensa zangetsu [6.8K]
Yes it does. Services like education, water, electricity are covered in this way.
4 0
3 years ago
What type of protection does U.S law grant the creator of a book, film, or piece of music
frozen [14]

The type of protection that the U.S law would grant the creator of a book, film, or piece of music is: Option B.

<h3>What is copyright law?</h3>

Copyright law can be defined as a set of formal rules and regulations that are granted by the government to protect an intellectual property (IP), especially by giving the creator or original author (owner) an exclusive right to use during his or her lifetime, while preventing any unauthorized access, unlawful use or duplication by other parties.

This ultimately implies that, a copyright grants a creator the exclusive right to use the creation during his or her lifetime, as well as to the creator's heirs for 70 years after the creator's death.

Read more on copyright laws here: brainly.com/question/397668

4 0
2 years ago
Larry owns a successful business called Super Car-Hire. He plans to sell it to Bob. Bob assumes that he can keep up the high rev
Lubov Fominskaja [6]

Answer:

B is the correct option.

Explanation:

This principle follows the assumption that a company will remain in business in the future. It means that the business will not have to halt operations or to liquidate the assets in the future. According to this principle, the accountant postpones the recognition of some expenses till a later period, and in that period the company will be in business will be effectively using the assets. It is a very important concept, without this, the company will not be able to prepay the expenses.

6 0
3 years ago
Larry Ellison starts a company that manufactures high-end custom leather bags. He hires two employees. Each employee only begins
Degger [83]

Answer:

12.55 days

Explanation:

<em><u>Provided information </u></em>

Number of employees 2

Average production time=1.8 days

Standard deviation=2.7 days

Inter-arrival time= 1 day

Coefficient of variation= 1 day

Standard deviation of inter-arrival time= 1 day

The coefficient of variations

<u>Inter-arrival coefficient of variation </u>

C_{vi}=\frac {\sigma}{T} where \sigma is standard deviation of inter-arrival time, T is inter-arrival time and C_v is coefficient of variation of inter-arrival time

C_{vi}=\frac {1 day}{1 day}=1

<u>Production time coefficient of variation </u>

C_{vp}=\frac {2.7}{1.8}=1.5

<u><em>Total utilization time </em></u>

U=\frac {T}{n*T_i} where T is the time of production, n is number of employees, U is utilization, T_i is inter-arrival time

U=\frac {1.8}{2*1}=0.9

Therefore, utilization time by 2 employees is 0.9

<u>Expected average waiting time </u>

T_e=(\frac {T}{n*T_i})*0.5(C_{vi}^{2}+C_{vp}^{2})*(\frac{U^{\sqrt{2(n+1)}-1}}{1-U})

Where T_e is expected average waiting time and the other symbols as already defined

Substituting 1.5 for C_{vp}, 1 for C_{vi}, 0.9 for U, 2 for n, 1 for T_iand 1.8 for T

T_e=(\frac {1.8}{2*1})*0.5(1^{2}+1.5^{2})*(\frac{0.9^{\sqrt{2(2+1)}-1}}{1-0.9})

T_e=0.9*1.625*8.583709=12.55367 days  and rounding off to 2 decimal places we obtain 12.55 days

Therefore, expected duration between order received and beginning of production is approximately 12.55 days

7 0
3 years ago
Other questions:
  • Mayan Company had net income of $132,000. The weighted-average common shares outstanding were 80,000. The company has no preferr
    5·1 answer
  • One end item A requires three component parts: B, C, and D. The bill of material indicates that for each completed A, 3 units of
    5·1 answer
  • An advertisement reads, "jena chairs are marked down by 20 percent to $110. the first six people to purchase a jena chair on may
    11·1 answer
  • Your grandfather wants to establish a scholarship in his father’s name at a local university and has stipulated that you will ad
    13·1 answer
  • A hospital conducted a study of the waiting time in its emergency room. The hospital has a main campus and three satellite locat
    15·1 answer
  • Isle Co. owned a copy machine that cost $5,000 and had accumulated depreciation of $2,000. Isle exchanged the copy machine for a
    12·1 answer
  • Pilet Pte Ltd balance sheet reflected assets of 10,000, liabilities of 5,000 and share capital of 2,000 as of December 31,2009.
    15·1 answer
  • What is insurance??????
    13·1 answer
  • Identify each CSTO from its description
    13·1 answer
  • a buyer purchases a home in an area where closings are traditionally conducted in escrow. which item would a buyer deposit with
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!