You create a screen shot illustrating what the new system will potentially look like. this is an example of __________

The 2017 Form 10-K of Oracle Corporation, for the May 31, 2017 year-end, included the following information relating to their al

KatRina [158]

Answer:

B. $129 million

Explanation:

bad debt expense for the year = balance in allowance at the end + write off - balance in allowance at the beggining

= $319 million + $137 million - $327 million

= $129 million

Therefore, Oracle Corporation report as bad debt expense for the year is $129 million.

5 0

3 years ago

Armando Company produces and sells mattresses. It expects to sell 10,000 mattresses in the current year and had 1,000 mattresses

Nat2105 [25]

Answer:

Sales= $3,000,000

Explanation:

Giving the following information:

It expects to sell 10,000 mattresses in the current year and had 1,000 mattresses in finished goods inventory at the end of the previous year. Armando would like to complete operations in the current year with at least 1,250 completed mattresses in inventory. There is no ending work-in-process inventory. The mattresses sell for $300 each.

Production:

Sales= 10,000

Ending inventory= 1,250

Beginning inventory= (1,000)

Total= 10,250

Sales= 10,000*300= $3,000,000

5 0

3 years ago

Alfred is saving up money for a down payment on a townhouse. He currently has $5016$ 5016, but knows he can get a loan at a lowe

VikaD [51]

Answer:

It will take Alfred to accumulate the $5994 annually 4.1367 and monthly 4.0557

Explanation:

In order to calculate how long will it take Alfred to accumulate the $5994 we would have to use the following formula:

A=P(1+r/n)∧n*t

P=$5,016

A=$5994

r=4.4%

n=1 annually

n=12 monthly

Therefore, t annually would be as follows:

5,994=$5,016(1+(4.4%/100)/1)∧1*t

t=4.1367

Therefore, t monthly would be as follows:

5,994=$5,016(1+(4.4%/100)/12)∧12*t

t=4.0557

It will take Alfred to accumulate the $5994 annually 4.1367 and monthly 4.0557

7 0

3 years ago

Which animals in the food web are secondary consumer ?

ValentinkaMS [17]

Answer:

Soooooooooooooo the examples of secondary consumers include bluegill, small fish, crayfish and frogs.

Explanation:

5 0

3 years ago

On August 1, 2021, Limbaugh Communications issued $30 million of 10% nonconvertible bonds at 104. The bonds are due on July 31,

kodGreya [7K]

Answer:

Answers are journal entries, in the explanation box

<h2>Explanation:</h2><h3><u>Bonds:</u></h3>

Bonds is an interest bearing security or long term promissory note that a company represents while borrowing money with the interested investors.

<h2><u>Requirement 1:</u></h2><h2><u>Prepare the journal entries on August 1, 2021, to record:</u></h2><h3><u>Requirement 1(a):</u></h3>

The issuance of the bonds by Limbaugh (L)

<u>Solution:</u>

<u>Following is the journal entry for the issuance of bonds on August 1, 2021:</u>

<u>1st August 2021:</u>

Debit: Cash $31,200,000 <u>(Working 1)</u>

Debit: Discount on bonds payable $3,600,000 <u>(Working 3: Note 1)</u>

Credit: Bonds payable $30,000,000

Credit: Equity - stock warrants $4,800,000 <u>(Working 2)</u>

<u>Working 1:</u>

Calculation of cash received:

Cash received = Face value × Issued rate

Cash received = $30,000,000 × 104%

Cash received = $31,200,000

<u></u>

<u>Working 2:</u>

<u>Calculation of amount of equity - stock warrants:</u>

Equity - stock warrants = Market price per warrant × number of warrants × number of bonds

Equity - stock warrants = $8 × 20 warrants × (30,000,000÷ 1,000 bonds)

Equity - stock warrants = $4,800,000

<u>Working 3: </u>

<u>Calculate the discount on bonds payable:</u>

Discount on bonds payable = Bonds payable + Equity stock warrants - Cash received

Discount on bonds payable = $30,000,000 + $4,800,000 - $31,200,000

Discount on bonds payable = $3,600,000

<u>Note 1:</u> Since discount on bonds issues is an expense, therefore, it is debited.

<h3><u>Requirement: 1 (b)</u></h3>

<u>Prepare the journal entries on August 1, 2021, to record the investment by Interstate (I).</u>

<u></u>

The following is the journal entry on August 1, 2021 to record the investment by Interstate (I) i.e. investor:

Debit: Investment in stock $960,000 (Working 4)

Debit: Investment in bonds $6,000,000 (Working 5)

Credit: Discount on bonds investment $720,000 (Working 7)

Credit: Cash $6,240,000 (Working 6)

<u>Working 4: </u>

<u>Calculate the investment in stock warrants:</u>

Investment in stock warrant = Equity - stock warrant × 20%

Investment in stock warrant = $4,800,000 × 20%

Investment in stock warrant = $960,000

Working 5:

Calculate the amount of investment in bonds:

Investment in bonds = Face value × 20%

Investment in bonds = $30,000,000 × 20%

Investment in bonds = $6,000,000

<u>Working 6:</u>

Calculate the amount of cash paid:

Cash paid = Face value × issued rate × 20%

Cash paid = $30,000,000 × 104% × 20%

Cash paid = $6,240,000

<u>Working 7:</u>

<u>Calculate discount on bond investment:</u>

Discount on bond investment = Investment in stock warrants + Investment in bonds - Cash paid

Discount on bond investment = $960,000 + $6,000,000 - $6,240,000

Discount on bond investment = $720,000

<h2><u>Requirement 2:</u></h2><h2><u>Prepare the journal entries for both Limbaugh and Interstate in February 2032, to record the exercise of the warrants.</u></h2>

<h3><u>Requirement 2(a)</u></h3>

<u>Prepare the journal entries for Limbaugh in February 2032, to record the exercise of the warrants.</u>

Solution:

Following is the journal entry for exercise of warrants by <u>Limbaugh</u>:

Debit: Cash: $7,200,000 (Working 8)

Debit: Equity - stock warrants $960,000 (Working 9)

Credit: Common stock - equity $8,160,000

<u>Working 8: </u>

<u>Amount of cash received from the exercise:</u>

Amount of cash received from the exercise = Exercise price per warrant × Number of warrants × Number of bonds × 20%

Amount of cash received from the exercise = $60 × 20 warrants × ($30,000,000/$1,000) × 20%

Amount of cash received from the exercise = $7,200,000

<u>Working 9:</u>

<u>Amount of equity - stock warrants from exercise:</u>

Equity - stock warrants = Total equity stock-warrants × 20%

Equity - stock warrants = $4,800,000 × 20%

Equity - stock warrants = $960,000

<u>Working 10:</u>

<u>Amount of common stock:</u>

Amount of common stock = Cash received + equity - stock warrants

Amount of common stock = $7,200,000 + $960,000

Amount of common stock = $8,160,000

<h3><u>Requirement 2(b)</u></h3>

<u>Prepare the journal entries for Interstate in February 2032, to record the exercise of the warrants.</u>

Solution:

The journal entry is as follows:

Debit: Investment in common stock: $8,160,000 (Working 13)

Credit: Investment in stock warrants: $960,000 (Working 11)

Credit: Cash: $7,200,000 (Working 12)

Working 11:

<u>Amount of equity - stock warrants from exercise:</u>

Equity - stock warrants = Total equity stock-warrants × 20%

Equity - stock warrants = $4,800,000 × 20%

Equity - stock warrants = $960,000

<u>Working 12:</u>

<u>Calculate the amount of cash paid for exercise:</u>

Amount of cash paid for the exercise = Exercise price per warrant × Number of warrants × Number of bonds × 20%

Amount of cash paid for the exercise = $60 × 20 warrants × ($30,000,000/$1,000) × 20%

Amount of cash paid for the exercise = $7,200,000

<u>Working 13:</u>

<u>Investment in common stock:</u>

<u>Amount of common stock:</u>

Investment in common stock = Cash paid + Investment in stock warrants

Investment in common stock = $7,200,000 + $960,000

Investment in common stock = $8,160,000

3 0

3 years ago

You create a screen shot illustrating what the new system will potentially look like. this is an example of ___________.