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Sphinxa [80]
2 years ago
9

AirStep Shoe Company has two retail stores, one in Gainesville and the other in Orlando. The Gainesville store had sales of $100

,000, a contribution margin of 35 percent, and a segment margin of $14,000. The company's two stores have total sales of $250,000, contribution margin of 32 percent, and a total segment margin of $31,000. The contribution margin for the Orlando store must have been:
A. $65,000
B. $170,000
C. $105,000
D. $45,000
Business
1 answer:
Yakvenalex [24]2 years ago
7 0

Answer:

D. $45,000

Explanation:

The computation of the contribution margin for the Orlando store is

= Total sales × contribution margin percentage - Gainesville sales × contribution margin percentage

= $250,000 × 32% - $100,000 × 35%

= $80,000 - $35,000

= $45,000

Contribution margin is come from deducting Gainesville contribution margin from the total contribution margin

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On January 1, a company issues bonds dated January 1 with a par value of $380,000. The bonds mature in 5 years. The contract rat
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Answer:

See explanation

Explanation:

Selling Price of Bonds =396,210

                                  Journal Entry

Date        Account Title and Explanation        Debit       Credit

1 Jan      Cash                                                $396,210  

                        Bond payable                                           $380,000

                        Premium on bond payable                       $ 16,210  

               (To record issuance of bond)

Working

Premium On Bonds Payable = Selling Price of Bonds - Value of Bonds

= $396,210 - $380,000 = $ 16,210  

Interest payment:

Semi-annual interest = 7%× 380,000× 1/2 =13,300

Date        Account Title and Explanation        Debit       Credit

June 30    Bond interest expense                  $13,300                              

                        Cash                                                           $13,300

               (To record semi annual interest paid on bond)

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