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mote1985 [20]
3 years ago
15

In the Month of March, Chester Corporation received orders of 154 units at a price of $15.00 for their product Clack. Chester us

es the accrual method of accounting and offers 30 day credit terms. Chester delivers 102 units in March and the balance of 51 units in April. They received payment for 51 units in March, 51 units in April, and 51 units in May. How much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands)
Business
1 answer:
julsineya [31]3 years ago
8 0

Answer:

March revenue:

102 units x 15 dollar each = 1,530

April revenue

51 units x 15 dollars each =   765

Explanation:

We recognize based on the delivery of the goods which is the point at which the trasnfer of ownership occurs. Once the good are delvierired; the customer is the owner of them and can use them as see fit, is responsabile for their condition and wellbeing.

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The total factory overhead for Bardot Marine Company is budgeted for the year at $600,000. Bardot Marine manufactures two types
Olenka [21]

Answer: the total number of budgeted direct labor hours for the year. - 600 DLH

the single plantwide factory overhead rate- $100 per DLH

the factory overhead allocated per unit for each product using the single plantwide factory overhead rate. Speedboats $ per unit Bass boats $ per unit--- For Both Products $1,200

Explanation:

5 0
3 years ago
During the recent economic crisis, many financial managers and corporate officers have been criticized for (a) poor decisions, (
Ksju [112]
<span>During the recent financial crisis, many financial managers and corporate officers have been criticized for (c) Large salaries. This criticism is certainly justified given that most executives received exorbitant compensation despite a plunge in the value of their companies. Thus, their salaries are not justifiable as they are not serving the needs of the shareholders whose interest they should serve. </span>
7 0
3 years ago
Joe works for a life insurance company that funds commercial investment projects and often insures these projects by insisting o
Mademuasel [1]

Answer: Participation

Explanation:

Participation financing is a firm of financing whereby a loan is shared by several parties because such loans are too huge and a party cannot take the loan alone.

Since we are informed that works for a life insurance company that funds commercial investment projects and often insures these projects by insisting on an equity position, this means that participation financing is being practiced.

7 0
3 years ago
The drawee is the
IRINA_888 [86]

Answer:

C

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The drawee is the bank with which the drawer has an account.

8 0
2 years ago
A $ 1 comma 000 bond with a coupon rate of 6.2​% paid semiannually has two years to maturity and a yield to maturity of 6​%. If
pav-90 [236]

Answer:

As a result of a fall in interest and YTM, the bond price will increase by $15.04

Explanation:

To calculate the change in price due to fall in interest rate, we must first calculate the price of the bond before and after the fall of interest rates.

To calculate the price of the bond, we need to first calculate the coupon payment per period. We assume that the interest rate provided is stated in annual terms. As the bond is a semi annual bond, the coupon payment, number of periods and semi annual YTM will be,

Coupon Payment (C) = 1000 * 0.062 * 0.5 = $31

Total periods (n)= 2 * 2 = 4

r or YTM = 6% * 1/2 = 3% or 0.03

The formula to calculate the price of the bonds today is attached.

<u />

<u>Before Interest rates Fell</u>

Bond Price = 31 * [( 1 - (1+0.03)^-4) / 0.03]  +  1000 / (1+0.03)^4

Bond Price = $1003.717098 rounded off to $1003.72

<u />

<u />

<u>After Interest Rates Fell</u>

New YTM = 6% - 0.8%   =  5.2% or 0.052

Semi Annual YTM = 0.052 * 0.5  = 0.026

Bond Price = 31 * [( 1 - (1+0.026)^-4) / 0.026]  +  1000 / (1+0.026)^4

Bond Price = $1018.764647 rounded off to $1018.76

Change in Bond Price = 1018.76 - 1003.72   = $15.04

As a result of a fall in interest and YTM, the bond price increased by $15.04

7 0
3 years ago
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