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3 years ago

13

What are three ways you can learn more about a company, organization, potential employer, and/or the open position you are apply

ing for.

1 answer:

xeze [42]3 years ago

6 0

Answer:

- research about it

- Ask questions

- study for it

You might be interested in

How does an investor receive a return from a zero or very low coupon bond? (Select the best choice below.)

Veronika [31]

Answer:

A. From the appreciation of the bonds

Explanation:

Zero or very low coupon bond do not pay much (coupon) in their life (so C eliminated). They are sold at a deep discount to investor. As time pass, the value of the bond usually increases to approach face value (hence A).

Normally investor still have to pay for the imputed ("phantom") interest that comes from their real return (B eliminated)

If interest rate increases, the bond will decreases in value to create the required return the new buyer when they eventually sell it (D eliminated)

6 0

3 years ago

Rip garage, inc. (459 ellis avenue, harrisburg, pa 17111), is an accrual basis taxpayer that repairs automobiles. in late decemb

mixas84 [53]

Answer:

<u>MEMO</u>

To: Treasurer of Trip Garage, Inc.

From: Me

Subject: Dispute over accrued revenue

Mrs. S. Apple,

Good evening. Regarding your dispute over accrued revenue generated form the repair of Mr. Mosley's car, I must inform you the following:

Trip Garage, Inc., is an accrual basis taxpayer, therefore, revenues must be recorded once the repair service was completed, not when the invoice was collected.

In future occasions when similar problems show up, you should record an allowance for doubtful accounts. This way, if you believe that an account receivable is unlikely to be collected, it will be not considered for the year's financial records. This adjusting journal entry must be recorded before the end of the year, if not, all related revenues must be included in the years income statement.

Regards,

Me

Explanation:

Accrual taxpayers are required to record revenues once the revenue generating activity has been completed, i.e. Trip should have recorded $1,000 in revenue during 2017:

Dr Accounts receivable 1,000

Cr Service revenue 1,000

If Trip didn't consider that it would be able to collect the $1,000 receivable, then it should have recorded it as bad debt expense:

Dr Bad debt expense 1,000

Cr Allowance for doubtful accounts 1,000

If thy did not record the bad expense, then the IRS agent is right, and the $1,000 must be included in the 2017 income statement.

3 0

4 years ago

Hollister Company amended its defined benefit pension plan at the beginning of 2020 and recognized prior service cost of $1,700,

zzz [600]

Answer: b. $ 1,900,000

Explanation:

The Net Increase in PBO can be calculated by the formula;

= Prior service cost + Service cost + Interest on the PBO - Benefits paid

= 1,700,000 + 400,000 + 190,000 - 390,000

= $1,900,000

4 0

3 years ago

Claire Corporation is planning to issue bonds with a face value of $240,000 and a coupon rate of 8 percent. The bonds mature in

Sveta_85 [38]

Answer:

a) issue price

PV of face value = $240,000 / (1 + 3%)⁸ = $189,458

PV of coupon payments = $4,800 x 7.0197 (PV annuity factor, 3%, 8 periods) = $33,695

market price = $223,153

January 1, bonds issued at a discount

Dr Cash 223,153

Dr Discount on bonds payable 16,847

Cr Bonds payable 240,000

b) discount amortization = ($223,153 x 3%) - $4,800 = $1,895

discount amortization = ($225,048 x 3%) - $4,800 = $1,951

discount amortization = ($226,999 x 3%) - $4,800 = $2,010

discount amortization = ($229,009 x 3%) - $4,800 = $2,070

March 31, first coupon payment

Dr Interest expense 6,695

Cr Cash 4,800

Cr Discount on bonds payable 1,895

June 30, second coupon payment

Dr Interest expense 6,751

Cr Cash 4,800

Cr Discount on bonds payable 1,951

September 30, third coupon payment

Dr Interest expense 6,810

Cr Cash 4,800

Cr Discount on bonds payable 2,010

December 31, fourth coupon payment

Dr Interest expense 6,870

Cr Cash 4,800

Cr Discount on bonds payable 2,070

c) bonds' carrying value at December 31 = $231,169

8 0

3 years ago

Barnes Company reports the following operating results for the month of August: sales $320,000 (units 5,000); variable costs $21

jekas [21]

Answer:

Explanation:

Selling price per unit = $300000 / 5000 units = $60 per unit

Increase in selling price by 10% = $60 + $60*10% = $60 + $6 = $66

1. Sales (5000 units * $66) $330000

less: variable expenses ($222000)

Contribution margin $108000

less: fixed cost ($71900)

Net income = $36100

2. If variable cost is reduced to 60% of sales

Sales $300000

less: variable cost (reduce 60%) ($180000)

Contribution margin $120000

less: fixed cost ($71900)

Net income = $48100

3. If fixed cost is reduced to $19000

Sales $300000

less: variable cost ($222000)

Contribution margin $78000

less: fixed cost (reduce by $19000) ($52900)

Net income = $25100

Actual net income is $6100 ( sales $300000 - variable cost $222000 - Fixed cost $71900)

Case 1 : increasing the price will lead to an increase in the net income from $6100 to $36100

Case 2 : Reducing the variable cost will lead to an increase in the net income from $6100 to $48100

Case 3 : Reducing the fixed cost will lead to an increase in the net income from $6100 to $25100.

3 0

4 years ago