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Sophie [7]
3 years ago
13

On January 1 of the current year, the Queen Corporation issued 7% bonds with a face value of $70,000. The bonds are sold for $67

,900. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, five years from now. Queen records straight-line amortization of the bond discount. Determine the bond interest expense for the year ended December 31. Select the correct answer. $408 $2,100 $5,320 $4,900
Business
1 answer:
Salsk061 [2.6K]3 years ago
7 0

Answer:

$5,320

Explanation:

the journal entry to record the issuance of the bonds

January 1

Dr Cash 67,900

Dr Discount on bonds payable 2,100

    Cr Bonds payable 70,000

the journal entry to record the first and second coupon payments

June 30 and December 31, first and second coupon payment

Dr Interest expense 2,660

    Cr Cash 2,450

    Cr Discount on bonds payable 210

Amortization of bonds payable = $2,100 / 10 coupons = $210 per coupon

total interest expense for the year = $2,660 x 2 = $5,320

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The holding period return​ (HPR) of​ one's portfolio should be compared to investment goals
Mariulka [41]

Answer:

The orrect option is A "I and III only"

Explanation:

<u>Statement (I)</u> is true as a result of to work out the speed of come is commensurate with the risks concerned as it doesn’t create any intellect to stay the Funds in portfolio.

<u>Statement (III) </u>is true as a result of it is sensible to isolate funds they need undesirable returns or an excessive amount of association with alternative investments

8 0
3 years ago
An analysis of the general ledger accounts indicates that delivery equipment, which cost $75,000 and on which accumulated deprec
earnstyle [38]

Answer:

Explanation:

Basically there are three types of activities:

1. Operating activities: It includes those transactions which affect the working capital, and it records transactions of cash receipts and cash payments.

2. Investing activities: It records those activities which include purchase and sale of the fixed assets

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.  

So, the items reported or not reported is shown below:

1. $75,000 cost of office equipment - not reported

2. $58,000 accumulated depreciation - not reported

3. $20,200 sales price - investing activities - added

4. $3,200 gain on sale of equipment - operating activities - deducted

6 0
3 years ago
As security becomes more important, most routers now have software that enables the network manager to create a(n) _______ that
Elan Coil [88]

Answer:

Access Control List

Explanation:

An access control list is a table that tells a computer operating system(windows, Mac-os, Linux) which access rights a user or group of users have to certain object on the computer system. The object to be accessed may range from an individual file to a directory.

The most commonly allowed accesses includes the ability to read files, execute files (i.e if the files is executable; .exe), write to the file.  

3 0
3 years ago
Bailey Corp. has the following information: Beginning Inventory (Jan 1) Ending Inventory (Dec 31) Raw Materials Inventory $ 25,3
Amanda [17]

Answer:

See below

Explanation:

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Add ;

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$106,100

Cost of goods available for sale

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Less:

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$39,100

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$92,300

Add:

Beginning work in process

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Less:

Ending work in process

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Cost of goods manufactured

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4 0
3 years ago
The ohio state studies and the leadership grid are associated with the ____ approach to leadership.
dsp73

The Ohio state studies and the leadership grid are associated with the behavioral approach to leadership.

<h3>What is meant by the behavioral approach?</h3>

Since human conduct is taught, it is possible to unlearn any behavior and replace it with another behavior. The observable and quantifiable characteristics of human behavior are the main focus of behaviorism. As a result, learnt behaviors can be undone when they become unacceptable.

Relationship behaviors aid followers in feeling at ease with one another, with themselves, and with their surroundings. The behavioral approach's main goal is to clarify how leaders mix these two types of actions to affect followers' efforts to accomplish a goal.

According to the behavior approach, all behaviors are acquired and are predicated on the same core precepts and outcomes.

These are linked to actions taken voluntarily by individuals and include environmental factors that are relevant to the action and are under the control of the individual.

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4 0
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