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
olya-2409 [2.1K]
3 years ago
13

Great Lake Glassware Company issues $ 1 comma 197 comma 000 of its 12​%, 10minusyear bonds at 95 on February​ 28, 2018. The bond

s pay interest on February 28 and August 31. Assume that Great Lake uses the straightminusline method for amortization. The journal entry to record the first interest payment on August​ 31, 2018 includes a​ ________.
Business
1 answer:
Wewaii [24]3 years ago
5 0

Answer:

Dr interest expense 74,812.50

    Cr Cash 71,820

    Cr Discount on bonds payable 2,992.50

Explanation:

the cash interest payments = principal x coupon rate x 1/2 (semiannual) =$1,197,000 x 12% x 0.5 = $71,820

since the bonds were sold at a discount, we must add the discount amortization = [($1,197,000 x 5%) / 10 years] x 1/2 = $5,985 x 0.5 = $2,992.50

total interest expense = $71,820 + $2,992.50 = $74,812.50

So the journal entry should be:

Dr interest expense 74,812.50

    Cr Cash 71,820

    Cr Discount on bonds payable 2,992.50

You might be interested in
Sales returns and allowances are reported on the ______.
labwork [276]

Sales returns and allowances are reported on the <u>Income Statement</u>.

<h3>What is the income statement?</h3>

The income statement is a financial statement wherein the sales revenue and cost of goods sold and operating expenses are summarized in order to obtain the net income.

When reporting the sales returns and allowances on the income statement, they are subtracted from the gross sales to arrive at the net sales.

Thus, sales returns and allowances are reported on the <u>Income Statement</u>.

Learn more about the income statement at brainly.com/question/24498019

5 0
2 years ago
The global technology company Motorola received negative publicity related to allegations that its workforce at a ________ plant
allsm [11]

Answer:

The correct answer is Contract manufacturing.

Explanation:

Contract manufacturing is a business model in which a company approaches a manufacturer with a design and requests a contract to produce a certain number of units at a cost. The cost of the contract manufacturer is based on work, material costs and the difficulty of the process, while the company focuses on design, marketing and sales. In general, the companies they hire will request quotes from several manufacturers per contract in a bidding process before finally choosing one.

3 0
2 years ago
What are examples of career fields Skills USA prepares students for? Check all that apply.
MissTica

Answer:

Health

Education

Information technology

Agriculture

Manufacturing

Explanation:

First let's define a career field skills:

A career field skills is an extra skill or a transferable skill which one can develop on his journey of life in such a way that one can be self employed with it.

Health skills

Education skills

Information technology skills

Agriculture skills

Manufacturing skills

The above mentioned skills are example of career fields Skills USA prepares students for so that they can earn even without working for anyone.

6 0
3 years ago
What are the indicators are used to carry out capital budgeting for different ventures of a company.
Kryger [21]

Answer:

The answer is below

Explanation:

The indicators that are used to carry out capital budgeting for different ventures of a company are:

1. Profitability of the project

2. Profitability for equity investors

3. Financial sustainability of the project

These essential indicators assist the firms to evaluate a future project's lifetime cash inflows and outflows to know whether the probable returns would be yielded and satisfy an adequate target goal.

4 0
3 years ago
How to make a business tycoon by yourself?
Mila [183]

Answer:

Be Creative: Always be looking for ways to improve your business and to make it stand out from the competition. ...

Get Organized: ...

Be Consistent: ...

Analyze Your Competition: ...

Understand the Risks and Rewards: ...

Stay Focused:

Ability to become a leader: ...

Great decision-maker:

Explanation:

pls give brainliest i need 2 more to be an expert

8 0
3 years ago
Other questions:
  • Pediacertain Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What
    8·1 answer
  • When interviewing prospective employees, Samuel, a seasoned manager, often observes hand gestures, facial expressions, and use o
    6·1 answer
  • Lean systems try to:
    13·1 answer
  • What happens when there are only a few large customers in the market?
    7·1 answer
  • Projects with different lives: You are trying to choose between purchasing one of two machines for a factory. Machine A costs $1
    15·1 answer
  • Marigold Corp. sold goods with a total selling price of $809,700 during the year. It purchased goods for $390,100 and had beginn
    12·1 answer
  • Account balance of 1723.57 the interest rate of the account is 3.4% compounded daily. If the account was opened 9 years ago, wha
    13·1 answer
  • The group within an organization that is responsible for monitoring and evaluating the internal control system is called the
    6·1 answer
  • Is it considered cheating to use brainly?
    6·2 answers
  • Question 7 Suppose that Jaxon Corporation has three products: Red, Black, and White. Red has the highest contribution margin per
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!