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Makovka662 [10]
3 years ago
13

Bake Co.'s trial balance included the following at December 31, Year 1:

Business
1 answer:
Dafna1 [17]3 years ago
5 1

Answer:

B. $390,000

Explanation:

On December 31, 20X6, Bake's current liabilities equal $390,000. Accounts payable are current; the bonds payable, due in 20X7, will mature in the next 12 months are current (minus the discount on the bonds payable); and the deferred tax liability will reverse in the next 12 months and is also current. ($80,000 + $300,000 - 15,000 + $25,000 = $390,000).

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Juniper Company uses a perpetual inventory system. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30
kozerog [31]

Answer:

Amount of cash paid on Aug 16 = <u>$8,167.50</u>

Explanation:

As for the information provided the terms of purchase are,

1% discount if payment made within 10 days,

and a total credit period of 30 days without any discount beyond 10 days.

Here, inventory purchased on August 7 = $9,750

Less; Return on 11 August = $1,500

Net Purchases = $8,250

Since payment is made on 16 August that is within 10 days from purchase discount will be received

= $8,250 \times 1% = $82.50

Amount of cash paid on Aug 16 = $8,250 - $82.50 = $8,167.50

8 0
3 years ago
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Galvatron Metals has a bond outstanding with a coupon rate of 6.1 percent and semiannual payments. The bond currently sells for
Eva8 [605]

Answer:

After tax cost of debt is 4.16%

Explanation:

The yield on the debt which is pre-tax cost of debt can be computed using the rate formula in excel, which is given as follows:

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

where nper is the number of coupon payments,this is calculated as 19*2 since it has a semi-annual coupon interest

pmt is the periodic coupon payment  6.1%/2*$2000=$61

pv is the current price of the bond which is $1933

fv is the face value repayable on redemption $2000

=rate(38,61,-1933,2000)

=3.20%

This is semi-annual yield , annual yield is 3.20%*2=6.40%

After tax cost of debt=6.40%*(1-t)

where t is the tax rate at 35%=0.35

after tax cost of debt=6.40%*(1-0.35)

                                  =4.16%

5 0
3 years ago
When a company shifts from a traditional cost system in which manufacturing overhead is applied based on direct labor-hours to a
Dimas [21]

Answer:

True

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