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Darya [45]
2 years ago
9

Tan Corporation issued $600,000,000 of 7% bonds on November 1, 2015, for $644,636,000. The bonds were dated November 1, 2015, an

d mature in 10 years, with interest payable each May 1 and November 1. The effective-interest rate is 6%. Prepare Tan’s December 31, 2015, adjusting entry. Use effective rate method of amortization
Business
1 answer:
jonny [76]2 years ago
7 0

Answer:

Interest Expense $6,446,360

Interest Payable $7,000,000

Explanation:

Interest Expense for the year =

Issued amount * Effective interest rate * \frac{Remaining months in the year}{Total months in the year}

$644,636,000 * 0.06 * 2/12 = $6,446,360

Interest Payable =

Face Value of the bond * Interest rate * \frac{Remaining months in the year}{Total months in the year}

$600,000,000 * 0.07 * 2/12 = 7,000,000

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Barlow Company's Accounts Payable balance at December 31, 2008, was P1,800,000 before considering the following transactions: •
mrs_skeptik [129]

Answer: The answer is 1950000

Explanation:

✓ Goods in transit on December 31, 2008:

Goods amounting to 100000 will be added into purchases of the year-end because they have already been sold as risk and rewards have been transferred to the Barlow that is goods have been physically dispatched to the Barlow. Hence this will increase accounts payable by 100000.

✓Goods in transit lost:

These words will also be included in the purchases and accordingly in the accounts payable irrespective of the fact that these have been destroyed. These goods were dispatched to the Barlow and therefore risk and rewards also been transferred hence purchase is done from Barlow's perspective.

So:

Total accounts payables are as under

Opening balance: 180000

Goods in transit reached next year:100000

Goods in transit lost:50000

Total: 1950000

4 0
3 years ago
What is the longest period of time that a forbearance may be placed on your account at one time?
astraxan [27]

Answer:

The longest period of time that a forbearance may be placed on your account at one time is 12 months.

Explanation:

Forbearance is an option people have to postpone the payments of a student loan for a set period of time for reasons like: going back to school, a low salary, unemployment, or a disease. It is a temporary relief for someone that can't pay the loan for a specific situation they have.

5 0
3 years ago
Importance of the study of organisational buyer behaviour to the personal selling function​
ladessa [460]

Answer:

The answer is below

Explanation:

The importance of the study of organizational buyer behavior to the personal selling function​ is that the personal seller can easily realize the expectation of the organizations.

It also assists in determining what makes organizations buy a certain product.

It gives the seller the proper ideas on the type of products preferred by organization buyers such that they can quickly make them available.

It also ensures the seller understands how the organization buyer operates in terms of payments, quality, quantity, and the purpose in which they are buying.

4 0
3 years ago
Why should we hire you? Is this a behavioral, situational,&/or job knowledge/worker requirement interview question
Ivenika [448]

Answer:

It's a behavioral and situational question.

Explanation:

4 0
2 years ago
Where could student researchers and/or student subjects find additional resources regarding the IRB approval process? Select all
maksim [4K]

Answer:

The correct answer to the following question will be Option D (IRB Office).

Explanation:

  • By federal, state, and local ordinances, college strategies, or professional ethics, the IRB office enables the MSU processes. IRB board members are allocated incoming application forms, mainly based on the Principal Investigator's College or Department, subject to availability and work load.
  • The IRB office's mission is to promote IRB review procedures, provide support to help adherence with relevant federal, local, and state regulations, university processes and procedures, and to protect human subjects, and provide researchers with prompt, client-oriented service.

Therefore, Option D is the right answer.

7 0
2 years ago
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