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inna [77]
2 years ago
12

On January 1, 2020, Klosterman Company issued $500,000, 10%, 10-year bonds at face value. Interest is payable annually on Januar

y 1. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 (b) Prepare the journal entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 (c) Prepare the journal entry to record the payment of interest on January 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
Ede4ka [16]2 years ago
3 0

Answer and Explanation:

Journal entry to record the issuance of the bonds.

A.

Jan 1

Dr cash $500,000

Cr bonds payable $500,000

B. Journal entry to record the accrual of the interest

Dec 31 2020

Dr Interest expense $25,000

Cr Interest Payable $25,000

C. Journal entry to record the payment of interest on January 1, 2021.

Dr Interest expense $25,000

Cr Cash $25,0000

Interest expense $500,000×10%×1/2=$25,000

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BigorU [14]

Based on microeconomic theory, <u>Total</u> costs refer to the sum of the fixed and variable costs for any given level of production.

<h3>What makes Total Cost?</h3>

Generally, the total cost is the sum of all the price of the material utilized, the wages or salary paid in the production, and the direct expenditure.

<h3>Components of Total Cost </h3>

The components of Total Cost include the following:

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Hence, in this case, it is concluded that the correct answer is "<u>Total Cost."</u>

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5 0
2 years ago
find the selling price per pound of a coffee mixture made from 8 pounds of coffee that sells fo $9.20 per pound and 12 pounds of
elena-14-01-66 [18.8K]

Answer:

$6.98 per pound

Explanation:

The computation of the selling price per pound is shown below:

As we know that

8 pounds of coffee sells for $9.20 per pound which equal to

= 8 pounds × $9.20 per pound

= $73.6

And, 12 pounds of coffee is for $5.50 per pound which equal to

= 12 pounds × $5.50 per pound

= $66

The total value would be

= $73.6 + $66

= $139.60

And, the total number of pounds would be

= 8 pound + 12 pound

= 20 pounds

And we assume the selling price per pound be X

So, the equation would be

$139.60 = 20 pounds × X

So, X would be

= $139.60 ÷ 20 pounds

= $6.98 per pound

4 0
3 years ago
In today's business environment, companies have to find ways to remain profitable by coping with increased competition and rapid
eimsori [14]

Answer:

<u>Greater</u>

Explanation:

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erik [133]

Answer with its Explanation:

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8 0
2 years ago
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Sloan [31]

Answer:

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