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Simora [160]
3 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]3 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
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At the beginning of the month, the Forming Department of Martin Manufacturing had 17,000 units in inventory, 30% complete as to
goldenfox [79]

Answer:

A) 82,275 materials; 79,400 conversion

Explanation:

<u>Calculation of the Equivalent Units of Production with respect to Raw Materials and Conversion Costs</u>

1. Raw Materials

Ending Work In Process (11,500 × 85%)                                =   9,775

Completed and Transferred (72,500 × 100%)                      = 72,500

Equivalent Units of Production with respect to Materials   = 82,275

2. Conversion Costs

Ending Work In Process (11,500 × 60%)                                =   6,900

Completed and Transferred (72,500 × 100%)                      = 72,500

Equivalent Units of Production with respect to Materials   = 79,400

4 0
3 years ago
Premier Sports Inc has a beginning PBO balance of​ $628,000 and a beginning market-related value of plan assets of​ $560,000. Th
eimsori [14]

Answer:

Correct answer is D.

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Explanation:

Amortization of actuarial gain or losses = Net actuarial gain/remaining service life

= 87500/20

Amortization of actuarial gain = $4375

6 0
3 years ago
If the effective annual yield on a bond is equal to the bondʹs coupon rate, the bond will have a market value that is
Mazyrski [523]

Answer:

The coupon rate is the stated periodic interest payment due to the bondholder at specified times. The bond's yield is the anticipated overall rate of return. If the bond's price changes and is no longer offered at par value, the coupon rate and the yield will no longer be the same as the coupon rate is fixed and yield is a derivative calculation based on the price of the bond.

4 0
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A country is currently producing bricks and spatulas using all of their resources and satisfying the wants of their economy. If
makkiz [27]

Answer:

C. The country will have a smaller marginal return from bricks.

Explanation:

This is because it will lead to an increased production in the economy and ppf will shift outward.

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which what-if analysis tool is the best option for complex calculations requiring constrained optimization?
DiKsa [7]

The what-if analysis tool would be the most adequate choice for intricate calculations that need contrived optimization:

b). Scenario manager

  • 'What-if analysis tool' is described as the tools that are employed to alter the values present in the cells.
  • It is done to observe the effect of changing the values impact the results produced by the used formula.
  • The what-if analysis tools have been categorized into three distinct types:
  • a). Scenarios.
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  • c). Data Tables.
  • As per the question, in order to opt for complex calculations, 'Scenarios' what-if analysis would be most adequate as they examine a number of variables and set of numbers/values that affect the outcome.

Thus, <u>option b</u> is the correct answer.

Learn more about 'what-if tool' here:

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