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3 years ago

Five thousand bonds with a face value of $1000 each, are sold at 110. The entry to record the issuance is

Business

1 answer:

Contact [7]3 years ago

4 0

Answer:

Date, bonds sold at a premium

Dr Cash 5,500,000

Cr Bonds payable 5,000,000

Cr Premium on bonds payable 500,000

Explanation:

The total face value of the bonds is $1,000 x 5,000 bonds = $5,000,000

since the bonds were sold at 110, their price was $5,000,000 x 110% = $5,500,000

the difference between the face value and the actual market price = $5,500,000 - $5,000,000 = $500,000 must be recorded as premium on bonds payable (increases the bonds' carrying value)

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If per capita gdp in 2014 was $900, in 2015 was $1,000, and in 2016 was $1,200, the growth rate of per capita gdp between 2014 a

worty [1.4K]

The formula for Growth rate of per capita GDP is:

Growth Rate = (per capita GDP in 2016 - per capita GDP in 2014) * 100 / per capita GDP in 2014

Growth Rate = (1,200 - 900) * 100 / 900
= 300 * 100 / 900
= 30,000/900
= 33.33 or 33

Therefore, 33% is the per capita growth rate between 2014 and 2016.

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2 years ago

Which of the following statements are true concerning the predetermined overhead rate when the direct labor-hour requirement for

In-s [12.5K]

Answer: The predetermined overhead rate increased because the total direct labor-hours dropped

Explanation:

The predetermined overhead rate refers to an allocation rate which is used in applying the estimated manufacturing overhead cost to the cost objects for a particular reporting period.

When there's reduction in the direct labor-hour requirement from 5 hours to 2 hours, the predetermined overhead rate increased because the total direct labor-hours dropped

The predetermined overhead rate is calculated as the total overhead cost divided by the machine hour. Therefore, if there's reduction in the direct labor hour rate, then there will be a rise in the predetermined overhead rate.

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2 years ago

Prestwich Corporation has two service departments and two operating departments. Costs of the Building and Grounds service depar

shepuryov [24]

Answer:

$20,880

Explanation:

Under the direct method we ignore services that are provided to the other service departments.

In order to allocate the building operation costs to Operating department A, we need to determine what percentage of the building space taken up by Operating departments is used by Operation Department A.

There is a total of 50000 square feet and Operating Department A occupies 60%(30000/50000 of that.

So Operating Department A will get 60% of the building costs

i.e., 60% × 34800 = 20,880

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3 years ago

At the price of $5 per pack of batteries, Duracell sells 10,000 packs of batteries and Energizer sells 15,000 packs of batteries

Verdich [7]

Answer:

28,000

Explanation:

To get this answer you have to assume perfect competition scenario, since in this case supply = demand. In this case:

At $7,5

Energizer sells 16,000 => Supply Energizer = 16,000

Duracell sells 12,000 => Supply Duracell = 12,000

Total Supply = 16,000+12,000

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2 years ago

Tariff effects: An overview

Darya [45]

Answer:

The answer is "Option E, Option B, and Option C".

Explanation:

There are two Alagir and Ertil nations, and both iGadgets are created by the nations. Its price throughout the world was lower than in the world, and the manufacturers in Ertil will be more likely to ask their government for just a tariff on iGadgets to protect them against the international competition so because the cost in the nation is higher and consumers are starting to import goods from the country.

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3 years ago