In a query, if you want to summarize the data and use a sum to apply addition to the summarized data, use the ____

On January 1, 2021, Tiny Tim Industries had outstanding $1,000,000 of 9% bonds with a book value of $970,500. The indenture spec

nevsk [136]

Answer:

loss at extinguishment 8,122.50 dollars

Explanation:

we should compare the amount we pay for the bonds and the book value of the bonds:

book value 978,877.50*

call price (987,000.00)

loss (8,122.50)

*We are given with the value at January 1st we must adjust for the value at july 1st using effective-rate method

970,500 x 11%/2 = 53,377.5 interest expense

1,000,000 x 9%/2 = 45,000 cash outlay

amortization 8,377.5

carrying value:

970,500 + 8,377.5 = 978,877.5

6 0

3 years ago

Big Game, Inc., is a manufacturer of hunting supplies. The following is a summary of the company's annual payroll-related costs:

grandymaker [24]

Answer:

(a) $9,435,000

(b) $5,230,000

(c) 1.27 or 127%

(d) 1.80 or 180%

Explanation:

(a) Big Game's total payroll- Related costs for the year:

= wages and salaries expense + payroll taxes + workers compensation premiums + group health insurance premium + contributions to employees pension plan

= $7,430,000 + 580,000 + 250,000 + 725,000 + 450,000

= $9,435,000

(b) Net amount of cash actually paid to employees:

= wages and salaries earned - Amount withheld from the employees pay

= $7,430,000 - $2,200,000

= $5,230,000

(c) Express total payroll related costs as a percentage of total wages and salaries expense:

= Total payroll related costs ÷ wages and salaries expense

= $9,435,000 ÷ $7,430,000

= 1.27 or 127%

(d) Express total payroll related costs as a percentage of employees take-home pay:

= Total payroll related costs ÷ Take home pay

= $9,435,000 ÷ $5,230,000

= 1.80 or 180%

8 0

3 years ago

Media richness most directly refers too

Marat540 [252]

The media richness most directly denotes to the number of helpful cues and abrupt feedback a medium provides or the data carrying capacity of a communication medium. In addition, the early computer-mediated communication theory named the media richness theory absorbed on categorizing each medium conferring to the difficulty of the messages it handles proficiently.

4 0

3 years ago

Gilbert is an independent consultant who helps organizations select the right accounting software for their needs. After evaluat

tester [92]

Answer:

The principle of the Software Engineering Code of Ethics that Gilbert violated is:

Judgement (as related to full disclosure of personal involvement).

Explanation:

Gilbert is required by the Judgement Principle to "disclose those conflicts of interest that cannot reasonably be avoided or escaped." Since Gilbert professionally believes that the software meets specifications, secures documents, and satisfies user requirements, it is not quite apparent if he violated any principle. However, he could have informed his client of his personal interest in the software and also presented other software packages of other companies from which the client could make its independent choice.

8 0

3 years ago

On January 1, Graves Corporation had 60,000 shares of no-par common stock issued and outstanding. The stock has a stated value o

Zina [86]

Answer:

Date Account Titles and Explanation Debit Credit

June 15 Cash Dividends $103,500

[(60000+9000)*$1.5]

Dividends payable $103,500

(Being dividend declared for 69000 shares at $1.5 each)

July 10 Dividends payable $103,500

Cash $103,500

(Being dividend paid)

Dec 15 Cash Dividends $116,800

[(60000+9000+4000)*1.6]

Dividends payable $116,800

(Being dividend declared for 73000 shares at $1.6 each)

6 0

2 years ago

In a query, if you want to summarize the data and use a sum to apply addition to the summarized data, use the _____ tool.