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inn [45]
3 years ago
10

On January 1, $5,000,000, 10-year, 10% bonds were issued at $5,200,000. Interest is paid annually each January 1. The straight-l

ine method of amortization is used to amortize the premium. How much premium is amortized at the end of the first year?
Business
1 answer:
Mnenie [13.5K]3 years ago
3 0

Answer:

$20,000 premium is amortized at the end of the first year.

Explanation:

Straight line amortization:

premium amortized = Premium / number of years

                                 = ($5,200,000 - $5,000,000) / 10 years

                                 = $200,000 premium / 10 years

                                 = $20,000

Therefore, $20,000 premium is amortized at the end of the first year.

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Bridgeport Corporation's weekly payroll of $16,000 included FICA taxes withheld of $1,224, federal taxes withheld of $3,250, sta
vichka [17]

Answer:

The following 5 entries shall be booked in Accounts of Bridgeport Corporation for the purpose of weekly Payroll:

Explanation:

                                                                     Debit                                Credit

payroll expense                                            $16000

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Federal taxes withheld payable                                                           $3250

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Insurance Premiums payable                                                               $240

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(16000-1224-3250-860-240)

6 0
3 years ago
An offender neutralizes his guilt over the robbery of a convenience store by claiming that the victim routinely cheated customer
IRINA_888 [86]
<span>This technique of neutralization is called "Denial of the Victim". It is where an offender is in the belief that the victim got what was coming to them by pointing out an action or a flaw (does not have to be true). They use this rationalization to categorize their actions as just. Common phrases associated with this type of neutralization are "they had it coming" or "they deserved it". The offender is shifting the blame to make the victim an offender.</span>
7 0
3 years ago
You have been asked to assist a retail company. It sells clothing and would like to have a Point of Sale computer installed to h
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Don’t take my word for it but I think is the D
5 0
3 years ago
3. Keim, Inc. manufactures baseball gloves that normally sell for $40 each. Keim currently has 1,000 defective gloves in invento
umka21 [38]

Answer:

selling the defective gloves as they are results in a $3,000 higher gain

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the manufacturing costs of the defective gloves should be considered a sunk cost since they cannot be recovered:

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alternative 2, repair the gloves and sell them at normal price = ($40 - $25) x 1,000 = $15,000 gain

alternative 1 (selling the defective gloves as they are) results in a $3,000 higher gain

6 0
2 years ago
Can someone please help me answer these questions?
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I think these are personal questions which means there is no right answer

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