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Tasya [4]
3 years ago
10

Tempest Co. purchased 60, 6% Ulrich Company bonds for $60,000 cash. Interest is payable semiannually on July 1 and January 1. If

30 of the securities are sold on July 1 for $32,000, the entry would include a credit to Gain on Sale of Debt Investments for Select one: a. $2,000. b. $1,750. c. $1,800. d. $0 e. $1,600.
Business
1 answer:
PolarNik [594]3 years ago
7 0

Answer:

The correct answer is option (a).

Explanation:

According to the scenario, the given data are as follows:

Purchase Bonds = 60

Purchased bonds value = $60,000

So Purchased value of 30 bonds = $60,000 ÷ 2  = $30,000

Sold 30 bonds at value = $32,000

So, we can calculate the gain on sale by using following formula:

Gain on sale = Sold 30 bonds at value - Purchased value of 30 bonds

By putting the value, we get

= $32,000 - $30,000

= $2,000

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makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Dire
Ugo [173]

Answer:

$171 Favorable  

Explanation:

Actual Variable Overhead Rate = Actual variable overhead cost / Actual direct labor-hours used

Actual Variable Overhead Rate = $9,531 / 2,310

Actual Variable Overhead Rate = $4.125974

Variable overhead rate variance = (Standard rate - Actual rate) * Actual Direct labor hours

Variable overhead rate variance = ($4.20 - $4.125974) * 2310

Variable overhead rate variance = $0.074026 * 2310

Variable overhead rate variance = $171 Favorable  

6 0
3 years ago
Flynn Industries has three activity cost pools and two products. It estimates production 2,000 units of Product BC113 and 1,000
cupoosta [38]

Answer:

Follows are the instructions to this question:

Explanation:

Given:

Configuration of machine = \$16,000 \ \ \ \ 40  \ \ \ \ 25 \ \ \ \ 15

Machine hours= \$110,000  \ \ \ \ 5,000  \ \ \ \ 1,000 \ \ \ \  4,000

Order on Packing= \$30,000\ \ \ \  500 \ \ \ \ 150 \ \ \ \ 350

We have to use the following formula in order to measure the expected production overhead rate:

Estimated overhead production rate= Total projected production expenses and for period/Total base allocation sum

Machine Configuration =\frac{16,000}{(40+25+15)}= \frac{16,000}{80} =\$200 / \ setup

Machining hour= =\frac{110,000}{(5,000 + 1,000 + 4,000)} =\frac{110,000}{(10,000)}= \$11 / \  machine \ hour

Packing= \frac{30,000}{(500 + 150 + 350)}= \frac{30,000}{1000}= \$30/ \ order

6 0
2 years ago
PharmY, Inc., is a U.S. GAAP reporter that is in the pharmaceutical industry. In the current year, PharmY incurred expenditures
Whitepunk [10]

Answer with Explanation:

Tangible assets fall under the scope of International Accounting Standard IAS-36 Property, Plant and Equipment which says that assets that qualify following conditions, must be capitalized:

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Now here, the life expectancy of laboratory equipment is unknown and also that we don't know if the asset can be resold in the market or not. This means, if the asset has life expectancy is no more than a year and that the future benefits will flow towards the company then it must be capitalized otherwise it must be expensed out as per the guidelines of International Accounting Standard IAS-38 Intangible Assets, which says that the research cost prior to the development expenditure must be expensed out.

The other two costs are revenue expenditure and must be expensed out under the name research and development cost as per the guidelines of IAS-38.

4 0
3 years ago
The projected benefit obligation was $440 million at the beginning of the year. Service cost for the year was $48 million. At th
balu736 [363]

Answer:  $47 million

Explanation:

Pension expense arises as a result of the amounts owed to employees in relation to pension liabilities.

It is calculated by;

= Service Cost + Interest expense - Expected return on plan assets +  Amortization of prior service cost + Amortization of net loss

= 48 + ( 440 * 5%) - 23

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7 0
3 years ago
Ford developed a series of ________, or short videos shown online featuring entertainment centered around its Focus brand, aimed
Oksi-84 [34.3K]

Answer:

Webisodes

Explanation:

Webisodes are a form of series that has episodes aired predominantly on the web. It can be downloaded or streamed, and it can also be aired on normal cable television.

The major characteristic of webisode is its distribution on the internet, and it uses various video streaming websites.

Ford used webisodes to target college students for its Focus brand.

College students use the internet alot so they will have more exposure to the webisodes.

7 0
3 years ago
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