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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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During its most recent fiscal year, Dover, Inc. had total sales of $3,200,000. Contribution margin amounted to $1,500,000 and pr
ANEK [815]

Answer:

Fixed costs= 1,100,000

Explanation:

Giving the following information:

During its most recent fiscal year, Dover, Inc. had total sales of $3,200,000. Contribution margin amounted to $1,500,000 and pretax income was $400,000.

We need to reverse engineer the income statement to determine the total fixed costs. We know that the pretax income is the difference between the total contribution margin and the fixed costs.

Pretax= total contribution margin - fixed costs

400,000= 1,500,000 - FC

Fixed costs= 1,500,000 - 400,000

Fixed costs= 1,100,000

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Answer:

The journal entries for all transactions are as follows;

Explanation:

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