The cost of the bond at costing is $984.50.
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What is a bond?</h3>
- A bond is a type of financial security in which the issuer (the debtor) owes the holder (the creditor) a debt and is obligated to repay the principal (i.e. amount borrowed) of the bond at the maturity date as well as interest (called the coupon) over a specified period of time, depending on the terms.
- Interest is usually paid at regular intervals (semiannual, annual, and less often at other periods).
- As a result, a bond is a type of loan or IOU.
- Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, current expenditures.
To determine the cost of the bond at costing:
- $1,000 is the face value.
- Multiply this by the closing rate to find the cost of the bond at closing.
- $1,000 × .9845 = $984.50
Therefore, the cost of the bond at costing is $984.50.
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Answer: Allocating indirect expenses to the department.
Explanation:
Indirect Expenses are those expenses that the entire business incurred and not just that particular department or segment. This means that it cannot be directly attributed to any one instrument of expense such as products or services.
This is why when it comes to allocating indirect costs which has to be done to maintin proper records, apportioning those costs to each department is challenging because the amount of cost due is not plain or direct.
Answer:
$2,115
Explanation:
Lexington Company's Year 2 net cash flow from financing activities = cash received from issuing stocks minus bank loan payments - distributed dividends
net cash flow from financing activities = $1,250 (from additional stock) - $1,825 (bank payments) - $1,540 (dividends paid) = $2,115
Answer:
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