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prisoha [69]
3 years ago
11

Lance Brothers Enterprises acquired $770,000 of 5% bonds, dated July 1, on July 1, 2016, as a long-term investment. Management h

as the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 6% for bonds of similar risk and maturity. Lance Brothers paid $690,000 for the investment in bonds and will receive interest semiannually on June 30 and December 31. Prepare the journal entries (a) to record Lance Brothers’ investment in the bonds on July 1, 2016, and (b) to record interest on December 31, 2016, at the effective (market) rate
Mathematics
1 answer:
enot [183]3 years ago
4 0

Answer:

Cash (2.00% × $770,000) = $15,400

Interest revenue (2.50% × $690,000) = $17,250.

Discount = 770,000 - 690,000 = 80,000

Date                       General Journal                                Debit            Credit

July 1, 2016           Investment in bonds                           770,000

                             Discount on bond investment                                 80,000

                                  Cash                                                                   690,000

Dec 31, 2016          Cash                                                    15,400

                              Discount on bond investment            1850

                              Interest revenue                                                        17,250

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Step-by-step explanation:

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x =  9(a+g)

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Mr. Martin and his son are planning a fishing trip to Alaska. The rates of two companies are shown.
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Answer:

Part A) Fisherman's Service will provide a better deal for a three days trip as it will cost $480 compare to the Wild Fishing Inc.'s deal that costs around 550$

Part B) Wild Fishing's Inc. would charge $700 for 6 days for both of them.

Part C) Let w be expression for Wild Fishing Inc. to represent the cost of the trip for both Mr. Martin and his son for n number of days trip.

w = 2(200) + 2n(25) = 400 + 50n

Let f be expression for Fisherman's Service to represent the cost of the trip for both Mr. Martin and his son for n number of days trip.

f = 2(150) + 2n(30) = 300 + 60n

Step-by-step explanation:

<em>Part (A) Which company offers a better deal for a three day trip for Mr. Martin and his son? What will be the cost?</em>

  • The rate offered by Wild Fishing Inc:

        Round Trip Flight $200 / Daily Rate $25

  • The rate offered by Fisherman's Service:

        Round Trip Flight $150 / Daily Rate $30

<em>Analyzing Wild Fishing Inc. Offer for a three day trip</em>

  • As Mr. Martin and his son are planning a fishing trip to Alaska.

<u><em>Expenses cost for Mr. Martin and his son if they chose Wild Fishing Inc</em></u>

The formula to calculate Mr Martin expenses for 3 day trip:

Round trip Cost +  3 (Daily rate) ⇒ 200 + 3 (25) = $275.......[A]

The formula to calculate Mr Martin's son expenses for 3 day trip:

Round trip Cost +  3 (Daily rate) ⇒ 200 + 3 (25) = $275.......[B]

Adding Equation [A] and [B] will bring the net expense faced by Mr. Martin and his son if they chose to get Wild Fishing Inc. deal:

Net expense faced by Mr. Martin and his son: 275 + 275 = 550$

So, Wild Fishing Inc. will cost 550$ to both Mr. Martin and his son.

<em>Analyzing Fisherman's Service Offer for a three day trip</em>

As Mr. Martin and his son are planning a fishing trip to Alaska.

<u><em>Expenses cost for Mr. Martin and his son if they chose Fisherman's Service</em></u>

The formula to calculate Mr Martin expenses for 3 day trip:

Round trip Cost +  3 (Daily rate) ⇒ 150 + 3 (30) = $240.......[A]

The formula to calculate Mr Martin's son expenses for 3 day trip:

Round trip Cost +  3 (Daily rate) ⇒ 150 + 3 (30) = $240.......[B]

Adding Equation [A] and [B] will bring the net expense faced by Mr. Martin and his son if they chose to get Fisherman's Service deal:

Net expense faced by Mr. Martin and his son: 240 + 240 = 480$

So, Fisherman's Service will cost 480$ to both Mr. Martin and his son.

<em>Choosing the right company that offers a better 3 days deal:</em>

As we have determined that

  • Wild Fishing Inc. will cost 550$ to both Mr. Martin and his son.
  • Fisherman's Service will cost 480$ to both Mr. Martin and his son.

Therefore, Fisherman's Service will provide a better deal for a three days trip as it will cost $480 compare to the Wild Fishing Inc.'s deal that costs around 550$.

<em>Part (B) Which company would charge $700 for 6 days for both of them?</em>

<u><em>Checking Wild Fishing Inc. expenses for 6 days trip:</em></u>

The formula to calculate Mr Martin expenses for 6 day trip:

Round trip Cost +  6 (Daily rate) ⇒ 200 + 6 (25) = $350.......[A]

The formula to calculate Mr Martin's son expenses for 3 day trip:

Round trip Cost +  6 (Daily rate) ⇒ 200 + 6 (25) = $350.......[B]

Adding Equation [A] and [B] will bring the net expense faced by Mr. Martin and his son if they chose to get Wild Fishing Inc. deal for 6 days:

Net expense faced by Mr. Martin and his son: $350 + $350 = 700$

<u><em>Checking Fisherman's expenses for 6 days trip:</em></u>

The formula to calculate Mr Martin expenses for 6 day trip:

Round trip Cost +  6 (Daily rate) ⇒ 150 + 6 (30) = $330.......[A]

The formula to calculate Mr Martin's son expenses for 3 day trip:

Round trip Cost +  6 (Daily rate) ⇒ 150 + 6 (30) = $330.......[B]

Adding Equation [A] and [B] will bring the net expense faced by Mr. Martin and his son if they chose to get Fisherman's Service deal for 6 days:

Net expense faced by Mr. Martin and his son: $330 + $330 = 680$

So, Wild Fishing's Inc. would charge $700 for 6 days for both of them.

<em>Part (C) Write an expression to represent the cost of the trip for Mr. Martin and his son for each company.</em>

<em><u>Expression for Wild Inc.</u></em>

Let w be expression for Wild Fishing Inc. to represent the cost of the trip for both Mr. Martin and his son for n number of days trip.

w = 2 (Round trip Cost) +  2n (Daily rate)

As Round trip costs $200 and $25 is the daily rate for Wild Fishing Inc.

So, w can be written as:

w = 2(200) + 2n(25) = 400 + 50n

<em><u>Expression for Wild Inc.</u></em>

Let f be expression for Fisherman's Service to represent the cost of the trip for both Mr. Martin and his son for n number of days trip.

f = 2 (Round trip Cost) +  2n (Daily rate)

As Round trip costs $150 and $30 is the daily rate for Fisherma''s Service.

So, w can be written as:

f = 2(150) + 2n(30) = 300 + 60n

<em>Keywords: cost, expenses, deal</em>

<em> Learn more about word problem from brainly.com/question/13060938</em>

<em> #learnwithBrainly</em>

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Chang used a coordinate plane to show where his posters are displayed on his bedroom wall. Three posters are located at E(5, 3),
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Answer:

EF = 9

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Step-by-step explanation:

For EF, we want to find the distance between their c coordinates, since their y coordinates are the same. We want the distance between -4 and 5, which when you add their distance from 0, is 9.

For GF, they share the same x coordinate, so you're finding the distance between their y coordinates, which are 3 and 5. The distance between the two is 2, so the length of GF is 2.

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