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kramer
4 years ago
6

Ron Kenoly Inc. issued $600,000 of 9%, 10-year bonds on June 30, 2020, for $562,500. This price provided a yield of 10% on the b

onds. Interest is payable semiannually on December 31 and June 30. If Kenoly uses the effective-interest method, determine the amount of interest expense to record if financial statements are issued on October 31, 2020
Business
1 answer:
Arlecino [84]4 years ago
7 0

Answer:

Kenoly uses the effective-interest method, the amount of interest to be recorded in the financial statements on October 31, 2020 is $18,750.

Explanation:

Bond cost         562500

Bond discount             9%

Bond years              10

Bond yield             10%

Discount (June 30 - Oct. 30) = 9% * 4/12 = 0.033

Interest (June 30 - Oct. 30) = 0.033[ 10% * 4/12]  

Interest Expense = $18,750

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Philip Morris expects the sales for his clothing company to be $670,000 next year. Philip notes that net assets (Assets − Liabil
shutvik [7]

Answer:

the ending cash balance is $330,300

Explanation:

The computation of the ending cash balance is shown below:

Ending cash balance = Opening cash balance + Profit

= $270,000 + (9% × $670,000)

= $270,000 + $60,300

= $330,300

We simply added the opening cash balance and the profit so that the ending cash balance could come

Hence, the ending cash balance is $330,300

7 0
3 years ago
The following standards for variable manufacturing overhead have been established for a company that makes only one product:
Marianna [84]

Answer:

variable overhead efficiency variance= $22,780 unfavorable

Explanation:

Giving the following information:

Standard hours per unit of output 7.0 hours

Standard variable overhead rate $ 13.40 per hour

Actual hours 2,725 hours

The actual output of 150 units

To calculate the variable overhead efficiency variance, we need to use the following formula:

variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate

Standard quantity= 150*7= 1,050 hours

variable overhead efficiency variance= (1,050 - 2,750)*13.4

variable overhead efficiency variance= $22,780 unfavorable

6 0
4 years ago
As a sales clerk for a national chain that sells outdoor gear, Joanna is at the lowest level in the organizational hierarchy. Ne
Allisa [31]

Answer: Decentralized structure

         

Explanation: In simple words, it refers to the organisational structure in which most of the decisions regarding the operations are made by the managers working on mid and lower level. The top managers in such a structure takes only those decisions which are of highest priority to the organisation.

In the given case, Joanna is the lower level managers but still contributes frequently in decision making.

Hence we can conclude that her organisation has decentralized structure.

4 0
4 years ago
________ is th term assembly line refers to progressive assembly linked by some material handling device.
jasenka [17]

Answer: Assembly line    

Explanation:

 An assembly line is the term which is used to define the production process and it is used for assigning the different types of responsibilities and duties for the purpose of accomplish the given task.

The main objective of the assemble line is that it helps in assembling the product by using the various types of machines or equipment in a sequential manner.

 According to the given question, the assemble line is also known as the progressive assemble line which is basically handling the various types of devices. Therefore, Assembly line is the correct answer.  

7 0
3 years ago
This is a good question to ask during an interview A) How many vacation days do I get? B) What kind of products or services do y
jeka94

Answer:

C) How many hours of training will I need?

3 0
3 years ago
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