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
Nonamiya [84]
2 years ago
7

A corporation issued 8% bonds with a par value of $1,000,000, receiving a $20,000 premium. On the interest date 5 years later, a

fter the bond interest was paid and after 40% of the premium had been amortized, the corporation purchased the entire issue on the open market at 99 and retired it. The gain or loss on this retirement is:______

Business
1 answer:
Mrac [35]2 years ago
3 0

Answer:

$22,000 gain.

Explanation:

Please see attachment

You might be interested in
Allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), and bad debt expense is
andrew11 [14]

Answer:

The correct answer is c) $9,000

Explanation:

If net credit sales are $300,000 and bad debt expense is estimated at 3% of net credit sales.

$300,000 x 3%= $9,000

or

$300,000 x 0.03= $9,000

The amount of the adjusting entry to record the estimated uncollectible accounts receivables is $9,000

7 0
3 years ago
West Corp. issued 25-year bonds two years ago at a coupon rate of 5.3 percent. The bonds make semiannual payments. If these bond
Nataliya [291]

Answer:

YTM is 4.94%

Explanation:

The  yield  to maturity is the return on the bond throughout the bond's tenure and can be computed using rate function in excel as shown below.

=rate(nper,pmt,-pv,fv)

nper is the number of coupons the bond has left to pay(23 years*2)

pmt is the semiannual coupon of the bond=$1000*5.3%*6/12=26.5

pv is the curren price=$1000*105%=$1050

fv is the face value of the bond

=rate(46,26.5,-1050,1000)=2.47%

2.47% is the semiannual yield

annual yield=2.47% *2=4.94%

7 0
2 years ago
What are the three types of economic resources? Give an example of each type of resource.
fiasKO [112]

"The three types of economic resources are also referred to as factors of production. Land (including all natural resources), Labor (including all human resources), Capital (including all man-made resources), and when you combine all of those you get production. "


8 0
3 years ago
Read 2 more answers
Which one of the following basic patterns of demand is difficult to predict because it is affected by national or international
alexdok [17]

Answer: D) cyclical

Explanation:

Cyclical Demand is difficult to predict because it goes according to the business cycle and hence is affected on a Macro Economic scale by events at a National or International level.

This means that something could be in demand today but the demand could fall or rise sharply based on the stage of the business cycle the economy is in.

8 0
2 years ago
Blake’s Manufacturing sells unfinished wood pieces for $150 each. The manager reported 280 defective wood pieces in inventory, w
mixas84 [53]

Answer:

$30,800

Explanation:

This can be calculated as follows:

Standard price revenue = $150 × 280 = $42,000

Original cost = $20 × 280 = $5,600

Defective sales revenue = $30 × 280 = $8,400

Extra processing cost = $10 × 280 = $2,800

Actual revenue forgo from defective sales = Defective sales revenue - Extra processing cost

Actual revenue forgo from defective sales = $8,400 - $2,800 = $5,600

Total incremental income = Standard price revenue - Original cost - Actual revenue forgo from defective sales

Total incremental income = $42,000 - $5,600 - $5,600 = $30,800

Therefore, the total incremental income from further processing is $30,800.

5 0
2 years ago
Other questions:
  • Shonda Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials:
    13·1 answer
  • Which statement is correct? Any portfolio that is correctly valued will have a beta of 1.0. A risk-free security plots at the or
    7·1 answer
  • In the money creation process, the simple money multiplier assumes that banks hold no excess reserves. What is the consequence o
    10·1 answer
  • The diffusion of innovation curve shows the typical distribution of adoption for five different categories of consumers. Rank th
    14·1 answer
  • Suppose that the labor market for life guards is initially in equilibrium. Then swimming pool owners adopt a new labor-saving te
    10·1 answer
  • Your company has a fixed monthly operating cost of $4173 (rent, fixed utilities, etc.) on top of the $5.13 it costs you to make
    7·1 answer
  • Which of the following statements is incorrect with regard to product costs? A. Product costs flow from the balance sheet to the
    12·1 answer
  • Distributors of cigarettes earn some monopoly profits in their local markets but see them slowly erode as substitutes enter the
    9·1 answer
  • ZOOm you there lets get on.
    12·2 answers
  • What budgeting tips would you help to stay on track financially
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!