healthcare, paid time off, disability insurance, and matching contributions to a retirement account are all types of

On january 1st year 1, a company issues $410,000 of 7% bonds

storchak [24]

Answer:

The appropriate journal entries to record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021 are:

White Water journal entries

1-Jan-21

Debit Cash $382,141

Credit Discount on Bonds Payable $27,859

($410,000-$382,141)

Credit Bonds payable $ 410,000

30-Jun

Debit Interest Expenses $ 15,286

($382,141 x 8%/2)

Debit Discount on Bonds Payable $736

Credit Cash $14,350

($410,000 x 7%/2)

31-Dec

Debit Interest Expenses $15,315.08

[($382,141 + 736) x 8%/2]

Credit Discount on Bonds Payable $965.08

($15,315.08-$14,350)

Credit Cash $14,350

($410,000 x 7%/2)

yo

3 0

1 year ago

You have 25 years left until retirement and want to retire with $1.1 million. Your salary is paid annually, and you will receive

Reptile [31]

Answer:

percentage of your salary save each year is 13.24%

Explanation:

given data

time period t = 25 year

amount = $1.1 million

salary = $61000

increase r1 = 4 percent per year = 0.04

return r2 = 10 percent = 0.1

to find out

what percentage of your salary must you save each year

solution

we consider here annual saving = A

so amount formula is

amount = A × $\frac{(1+r1)^t -(1+r2)^t}{r1-r2}$

here A is annual saving and r1 is increase rate and r2 is return rate

1100000 = A × $\frac{1.1^{25} - 1.04^{25}}{0.1-0.04}$

A = $8079.45

so

proportion of salary is $\frac{8079.45}{61000}$

proportion of salary = 13.24%

so percentage of your salary save each year is 13.24%

7 0

2 years ago

What is the name of the document that companies use to report quarterly financial results?.

Tpy6a [65]

Form10-Q is the SEC filing form that accompanies quarterly financial report and might be what you are referring to.

3 0

1 year ago

The NEC® arose as a consensus of more than 1200 individuals primarily to ____.

labwork [276]

NEC arose to:

d.standardize equipment use as a marketing tool

Explanation:

NEC Corporation is a multinational IT and Electronics firm that is based out of Japan.

It was started in the 60s as Nippon Electric company ltd. but it re branded itself to name NEC in 1983.

It is responsible for the standardization of equipment as their USP and their prime marketing tool and made it a standard industry practice to do so as of now.

Their impact on the whole industry has been immense.

7 0

2 years ago

Barnes Company reports the following operating results for the month of August: sales $305,000 (units 5,000); variable costs $21

Ostrovityanka [42]

Answer:

1. $30,500;

2. $30,000;

3. $22,000;

=> Option 1 produce the highest net income.

Explanation:

We have sell price per unit = 305K /5K = $61

1. Increase selling price by 10% with no change in total variable costs or sales volume:

Sell price = 61 x 1.1 = $67.1

Sales revenue = 67.1 x 5,000 = $335,500

Increase in sales revenue = 335.5K - 305K = $30,500

As costs remains the same, Net income will increase as much as the increase as sales revenue which is $30,500.

2. Reduce variable costs to 60% of sales:

New variable cost = $305,000 x 60% = $183,000

Saving in variable cost = 213K - 183K = $30,000

As fixed cost and sales revenue remain the same, net income will increase as much as the saving in variable cost which is $30,000

3. Reduce fixed costs by $22,000:

As variable cost and sales revenue remain the same, net income will increase as much as the saving in fixed cost which is $22,000

6 0

2 years ago