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Sonja [21]
3 years ago
11

Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $840,000 of 10-year, 4

% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions for the current year.
May 1 Issued the bonds for cash at their face amount.
Nov. 1 Paid the interest on the bonds.
Dec. 31 Recorded accrued interest for two months.
Business
1 answer:
nalin [4]3 years ago
5 0

Answer and Explanation:

The journal entries are shown below:

On May 1

Cash   $840,000  

              To 4% Bonds Payable  $840,000

(Being the issued of the face value is recorded)  

On Nov 1

Interest Expense $16,800  

         To Cash A/c  $16,800

(Being the interest expense is recorded)

The computation is shown below:

= $840,000 × 4% × 6 months ÷ 12 months

= $16,800

On Dec 31

Interest Expense $5,600  

           To Interest Payable  $5,600

(Being the accrued interest is recorded)

The computation is shown below:

= $840,000 × 4% × 6 months ÷ 12 months

= $5,600

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pychu [463]

Answer:

a. Profit to an investor who buys call for $4

a. $ -4

b. $ -4

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d. $ 1

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b. $6.5

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d. $ -3.5

e. $ -8.5

Explanation:

The call option is a derivative in which an investor buys an option to buy the asset at a certain price. The value of the call option is determined by maturity. The buyer of call option can buy an asset at a strike price before expiration date.

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If the investor buys the call option for $6.5 then the $6.5 is an expense for the investor. The value of call will be -6.5 unless the stock price is below $50.  

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3 years ago
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Answer:

The correct answer is B.

Explanation:

Giving the following information:

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Under LIFO (last-in, first-out) method, the ending inventory is integrated by the first units incorporated into inventory.

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