Answer:
The journal entry for the interest payment is shown below:
Explanation:
Interest Expense A/c........................Dr $16,098
Premium on bonds payable A/c....Dr $952
To Cash A/c............................Cr $17,050
Working Note:
Interest expense = Bonds sale value × Market rate
= $321,964 × 5%
= $16,098
The market rate will be:
= 10 / 2
= 5%
Because it is paid semiannually, so rate is divided by 2.
Cash = Par value × Contract rate
= $310,000 × 5.5%
= $17,050
The contract rate will be:
= 11 / 2
= 5.5%
Because it is paid semiannually, so rate is divided by 2.
Answer:
$170,000
Explanation:
Given that,
Travis Corporation begins the year with $50,000 of tire inventory that means inventories in the beginning of the year.
Purchases of tires during the year = $150,000
At the end of the year,
Purchase cost of remaining inventory = $30,000
Therefore,
Cost of goods sold:
= Beginning inventories + Purchases - Ending inventories
= $50,000 + $150,000 - $30,000
= $200,000 - $30,000
= $170,000
Using a trial and error method, the other number of accessories the company produced which yields approximately the same profit is <em>A. 1.45 million.</em>
Data and Calculations:
Price for the computer accessory = 100 - 10x^2)
Manufacturing cost = $10
Current production = 2 million
Profit generated based on 2 million accessories = $100 million dollars
= (100 - 10x^2)x - 10x
Where:
y = profit
x = number of accessories (in millions)
Using a trial and error method, replace x with 1.45 million and work out the answer. This option generates a profit of $100 million like 2 million accessories.
Question Completion:
The price that a company charged for a computer accessory is given by the equation 100-10x^2 where x is the number of accessories that are produced, in millions. It costs the company $10 to make each accessory. The company currently produces 2 million accessories and makes a profit of 100 million dollars. What other number of accessories produced yields approximately the same profit?
Answer Options:
A. 1.45 million
B. 3.45 million
C. 40 million
D. 48 million
Thus, the other number of accessories the company produced which yields approximately the same profit is <em>A. 1.45 million.</em>
Learn more about using the profit function to determine the production or sales quantity here: brainly.com/question/1456472 and brainly.com/question/25395113
A. Expectation because expectation means
a strong belief that something will happen or be the case in the future.
Answer:
$11,098.94
Explanation:
first we must calculate the future value of the 7 year annuity:
FV of an annuity = p x {[(1 + r)ⁿ - 1] / r}
- p = $13,100
- r = 17.18%
- n = 7
FV of an annuity = $13,100 x {(1.1718⁷ - 1) / 0.1718} = $13,100 x 11.8377 = $155,073.56
since he wants to have $176,000, he needs $20,926.44 more in 7 years (= $176,000 - $155,073.56)
X = FV / (1 + r)ⁿ
- future value =
- n = 4 years
- r = 17.18%
X = $20,926.44 / 1.1718⁴ = $11,098.94
