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Lady_Fox [76]
3 years ago
15

During the current period, Roberts recognized interest expense of $9,400 and paid interest of $9,000 related to its discounted b

onds. The amortization recognized during the current period was:____________.
Business
1 answer:
VARVARA [1.3K]3 years ago
6 0

Answer:

amortization on discount on BP 400

Explanation:

When there is a difference between the face value and the issuance proceeds from the bond a premium or discount is created.

When the proceeds are above, there will be a premium and the interest expense will be lower thant the actual cash outlay on the bond.

When theface value is above the proceeds, there is a discount.and expenses are higher than cash payment to bondholders.

In this case the expense is higher so there is a discount.

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A store has a 6% restocking fee. If you join the store’s membership program, all items over $100 will have a flat rate restockin
Dvinal [7]

Saving means the amount of income that is not spent on a particular product.

The member of the store will save $5 if they return an item costing $240.

<h3>What is saving?</h3>

Saving is defined as the part of income not spent, or delayed consumption. Methods of saving, consider putting money set aside.

<u>Example:</u>

A deposit account, a pension account, an investment fund, or cash. Saving also refers to separating down expenditures, like recurring costs.

In the above situation, it is clearly mentioned that if any member would return the item which costs above $100, then he would save $5. So here the item which the member is returning is above $100 then, the member would save $5.

He would pay only $235 ($240-$5).

Therefore, the member will save $5, on returning the item.

To learn more about saving, refer to:

brainly.com/question/7965246

8 0
2 years ago
A strong internal control system will reduce the amount of substantive testing that must be performed.A ) True B ) False
Doss [256]

Answer:

A) True

Explanation:

The internal control structure deals with the rules, laws, procedures, practices that vary from company to company that are necessary to attain an organization's goals and objectives.

The substantive testing is an audit process aimed at checking the accuracy and reliability of the financial statements. To check if the financial statements are free from any errors, mistakes, fraud, etc. that can change users' decisions.

The financial statements should be relevant, reliable and finalize in all respects.

Therefore, a strong internal system will reduce the quantity of substantive testing required.

4 0
3 years ago
On January 1, Avers Co. borrowed $10,000 by extending their past-due account payable with a a 60-day, 8% interest-bearing note.
babymother [125]

Answer:

Notes payable; $10,000

Explanation:

Given that,

Borrowing amount = $10,000

Time period = 60 day

Interest rate = 8%

On the due date of the note, avers co. paid the amount.

Therefore, this entry would be recorded by Avers with a debit to Notes payable with an amount of $10,000.

Interest amount = $10,000 × (60 ÷ 360) × 0.08

                           = $10,000 × 0.17 × 0.08

                           = $136

(Note: Assuming 360 days in a year)

Therefore, the Journal entry is as follows:

Notes payable A/c     Dr. $10,000

Interest Expense A/c Dr. $136

To cash                                             $10,136

(To record Avers pays the amount due in full)

4 0
3 years ago
The aggregate quantity of goods and services demanded changes as the price level rises because
makvit [3.9K]

Answer:

a.

Explanation:

The aggregate quantity of goods and services demanded changes as the price level rises because real wealth falls causing interest rates to rise, and this in term causes the dollar to appreciate since the interest rates are for products and services within the country and not foreign goods or services. Which as the dollar appreciates it means that foreign goods and services will become cheaper or that their relative price will fall.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
2 years ago
If you value outdoor recreation, which career might be good for you?
spin [16.1K]
You could be a coach of some sort or you could try to be a profesinal athlete or you could be a triner 
4 0
3 years ago
Read 2 more answers
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