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ankoles [38]
3 years ago
11

On January 1, 2017, Shay issues $330,000 of 12%, 15-year bonds at a price of 97.00. Six years later, on January 1, 2023, Shay re

tires 20% of these bonds by buying them on the open market at 104.50. All interest is accounted for and paid through December 31, 2022, the day before the purchase. The straight-line method is used to amortize any bond discount. 7. Prepare the journal entry to record the bond retirement at January 1, 2023.
Business
1 answer:
Mumz [18]3 years ago
7 0

Answer and Explanation:

As per the data given in the question,  Journal entries are as follows:

Jan 1  

         Bonds payable A/C Dr. $66,000

          Loss on bonds' redemption A/c Dr. $4,158

          To Discount on bonds payable A/c $1,188

                         ($5,940*20%)

          To Cash A/c $68,970

                    ($66,000*104.5%)

          (To record retirements of bonds before maturity)

Computation

Discount on bonds = $330,000 × 3% = $9,900

Amortized bond discount = $9,900 ÷ 15 × 6  

= $3,960

Unamortized bond discount = $9,900 - $3,960  

= $5,940

Face value of bonds retired = $330,000 × 20%

= $66,000

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ankoles [38]

Answer:

1 Investment in omni channel retail strategies

2 provide a personalized retail experience

3 Attend to the growing culture of immediacy

4 Expand into emerging markets and create a new channel

7 0
3 years ago
Your professor hands you a piece of paper with the number 75 on it and tells you this is your current average in the class. Sinc
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Answer:

Your professor hands you a piece of paper with the number 75 on it and tells you this is your current average in the class. Since this is your fourth year as a college student, you know you could work hard to bring that average up to a B by the end of the semester. This is data.

D. data

Explanation:

To understand what data is, consider the explanation below;

1. Data: data is a piece of raw information that can be converted to useful information. They are facts and statistics usually derived from observations and study that once processed and analysed, useful information can be extracted from it. Data can be analysed in different ways depending on the expected results. In the modern age, data is very important since they provided a factual basis for theories. Data can be processed manually or through the use of software applications.

An example of data is the score that the professor gave you which is 75, this score implies a specific grade ranking. This data was useful to you, since you analysed it and came to the conclusion that by working hard you can average this score up to a B by the end of the semester. The process through which you took the data which is 75, analysed it by comparing it to the grading system and coming to a conclusion is an example of data processing.

3 0
3 years ago
Knowledge Check 01 All of the following are weaknesses of the payback period: (You may select more than one answer. Single click
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Answer:

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7 0
3 years ago
Thalassines Kataskeves, S.A., of Greece makes marine equipment. The company has been experiencing losses on its bilge pump produ
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Answer:

- $89,000

Explanation:

The computation of the financial advantage or disadvantage is shown below:

= Contribution margin loss - fixed expense

where,

Contribution margin is - $246,000

And, the fixed expense would be

= Advertising (for the bilge pump product line) + Salary of product-line manager +  Insurance on inventories

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Now put these values to the above formula  

So, the value would equal to

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All other information which is given is not relevant. Hence, ignored it

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3 years ago
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sashaice [31]

Answer:

B. designing and implementing marketing mixes.

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Marketing mixes means the use of various tactics, tools or/and techniques employed by an organization in promoting their brand or product to the market or target consumers. It is the combination of various components in order to strengthen a product in the market. It involves combining various techniques to influence consumers to purchase an organization's product. Here, Wesley electronics designs and implements marketing mix by employing various methods of advertising, such as print, broadcast, and online advertising.

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