Answer: ✓ an intermediate goal that affects a long-term goal
Answer:
b. credit to Cash $60,000.
Explanation:
Given that:
Hurley Corporation issues the principal amount of $500,000
Time = 5 years
Rate = 12% at 96 with interest payable on January 1
Discount on issue =500000 × (1 - 0.96) = 20000
Annual discount amortization= 20000/5 = 4000
Interest payable = 500000× 12% = 60000
From the information given in the question; we can have a journal entry to determine the what the straight-line method will include.
So, let have a look at the table below:
Discount on issue 20000
Annual discount 4000
amortization
Debit Credit
Interest expense 64000
Discount on Bonds payable 4000
Interest payable 60000
Now; The January 1 entries will now be as follows:
Debit Credit
Interest payable 60,000
Cash 60,000
Thus; The entry on January 1 to record payment of bond interest assuming amortization of bond discount used the straight-line method will include a: <u>Credit to cash $60,000</u>
Answer:
$23,000
Explanation:
current annual sales = 49,000 packs
Selling price of course packs = $14 each
variable cost per pack = $12
Earnings = $75,000
Contribution:
= current annual sales × (Selling price of course packs - variable cost per pack)
= 49,000 packs × ($14 - $12)
= 49,000 packs × $2
= $98,000
Fixed costs of producing the course packs:
= Contribution - Earnings
= $98,000 - $75,000
= $23,000
Answer:
no idea but im pretty sure its 6 months
Explanation:
becuase i think so
