1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mina [271]
3 years ago
6

Hagar Corporation has municipal bonds classified as a held-to-maturity at December 31, 2017. These bonds have a par value of $80

0,000, an amortized cost of $800,000, and a fair value of $720,000. The company believes that impairment accounting is now appropriate for these bonds.
Required:
Prepare the journal entry to recognize the impairment.
Business
1 answer:
sergejj [24]3 years ago
4 0

Explanation:

The journal entries are as follows

On December 31,2017

Loss on impairment Dr $80,000

        To Debt investment - available for sale $80,000

(Being the loss on impairment is recorded)

It is computed below:

= $800,000 - $720,000

= $80,000

On December 31, 2017

Fair value adjustment- available for sale Dr $80,000

                To Unrealized holding gain or loss - equity $80,000

(Being the fair value adjustment is recorded)

You might be interested in
Clabber Company has bonds outstanding with a par value of $123,000 and a carrying value of $111,100. If the company calls these
White raven [17]

Answer:

The gain on retirement = $4,600

Explanation:

The gain or loss on retirement = Carrying Value of the Bonds -  Call price of the Bonds

The gain or loss on retirement = $111,100 -  $106,500

The gain on retirement = $4,600

Note: Par value will not be taken for the calculation of the above

4 0
2 years ago
at the beginning of each workday in the medical office, the receptionist is generally responsible for:
sleet_krkn [62]

At the beginning of each workday in the medical office, the receptionist is generally responsible for disengaging the alarm system.

What is receptionist?

An individual who works in an office or administrative support role is a receptionist. The task is typically done in a waiting room, like a lobby or front desk of a company or institution. A person who works for an organisation who is responsible for greeting clients, patients, and visitors as well as taking phone calls is known as a receptionist. A receptionist's tasks may also include room reservations and assignment, visitor registration, cashier work, credit checks, key control, and mail and message service. This administrative department is referred to as the front desk in many hotels. Front desk clerks are another name for these receptionists. To help the businesses they work for, receptionists perform a variety of activities, such as scheduling appointments, filing, keeping records, and other office duties.

to learn more about receptionist
brainly.com/question/27132969
#SPJ4

7 0
1 year ago
Which describes a benefit from government regulation of a natural monopoly?
Degger [83]

Answer:

The correct answer is Livy gas utility bill does not rise up during the shortage of the natural gas.

Explanation:

In the monopoly market, there is only one establishment control over the price of the products in the market. So, during the shortage of the product in the market, that establishment could increase or rise the price of the product and the customers would be forced to buy or conform as there is no other alternative or competitors in the market.

Government regulation might create the price ceiling which determine the maximum price that a company will make for a product.

Therefore, it describe that the Livy gas utility bill does not rise up during the shortage of the natural gas.

4 0
3 years ago
Nelson Corp is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annu
Katyanochek1 [597]

Answer:

14.74 %

Explanation:

Accounting rate of return = Average Profits / Average Investment x 100

therefore,

Accounting rate of return = ($100,000 - $65,000) / $237,500 x 100

                                           = 14.74 %

where,

Average Investment = ( initial investment + scrape value ) ÷ 2

3 0
2 years ago
Sroufe Manufacturing intends to increase capacity by overcoming a bottleneck operation by adding new equipment. Two vendors have
Vaselesa [24]

Answer:

A) Proposal A= 6875 units

B) Proposal B= 6818 units

Explanation:

Giving the following information:

Two vendors have presented proposals.

Proposal A:

Fixed costs= $55000.

Variable cost= $ 14.00.  

Proposal B:

Fixed cost= $75000.

Variable cost= $11.00

The revenue generated by each unit is $ 22.00

Break-even point= fixed costs/contribution margin

A) Proposal A= 55000/(22-14)= 6875 units

B) Proposal B= 75000/(22-11)= 6818 units

3 0
2 years ago
Other questions:
  • A lender demands an interest rate in part to compensate for any expected ___________, so that the money that is repaid in the fu
    6·1 answer
  • Doctors have been looking for a cure for which disease since 1981?
    5·1 answer
  • Modern Internet services help businesses provide timely customer service and resolve customer issues immediately. Which Internet
    14·2 answers
  • Clarksen company uses a process costing system. the company requisitioned $93,000 of materials for department a and $67,000 of m
    5·1 answer
  • A company developed the following per unit materials standards for its product: 3 pounds of direct materials at $5 per pound. If
    5·1 answer
  • Public Domain
    7·2 answers
  • By identifying and investing early in a potential future economic star, international firms can ________ and gain experience in
    11·1 answer
  • Harvey Hotels has provided a defined benefit pension plan for its employees for several years. At the end of the most recent yea
    9·1 answer
  • Websites not only give us information, but they also inspire designers in their layouts, illustrations, images, typefaces, and c
    9·1 answer
  • suppose the mpc in an economy is 0.95. the apc is initially 0.55 and disposable income is $6 billion. if disposable income incre
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!