1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
spin [16.1K]
3 years ago
5

Garcia Company issues 11.5%, 15-year bonds with a par value of $450,000 and semiannual interest payments. On the issue date, the

annual market rate for these bonds is 9.5%, which implies a selling price of 113 3/4.
Required:
Prepare the journal entry for the issuance of these bonds for cash on January 1.
Business
1 answer:
noname [10]3 years ago
4 0

Answer:

                                  Journal Entry

Date   Account Titles and Explanation         Debit          Credit

Jan 1   Cash                                                    $511,875

                Bond payable                                                  $450,000

                Premium on bond payable                             $61,875

                ($450,000*13.75%)

           (To record issue of bonds at premium)

You might be interested in
Christy spent $500 over her budget on gifts during the holidays. in addition to her regular job, she took a part-time job at the
allsm [11]
5 weeks 500/(12x10) =4ish then round up
8 0
3 years ago
Brad Essary owned a small company that sold garden equipment. The equipment was expensive, and a perpetual system was maintained
olga_2 [115]

Answer:

Total= $77,300

Explanation:

Giving the following information:

lost, damaged, and stolen merchandise normally amounted to 5 percent of the inventory balance. On June 14, Essary's warehouse was destroyed by fire. Just before the fire, the accounting records contained a $136,000 balance in the Inventory account. However, inventory costing $16,900 had been sold and delivered to customers but had not been recorded in the books at the time of the fire. The fire did not affect the showroom, which contained inventory that cost $35,000.

Accounting record= 136,000

Normal Damaged merchandise= 136,000*0.05= 6,800 (-)

Sold inventory= 16,900 (-)

Showroom= 35,000 (-)

Total= $77,300

3 0
3 years ago
which categoryh of inventory holding costs would be much higher than average for rapidly chaning industries
Alex787 [66]

The correct option is (c) i.e, The pilferage, scrap, and obsolescence category of inventory holding costs are much higher than average for rapid-change industries such as PCs and cell phones.

<h3>What does Inventory Holding Cost mean?</h3>

Expenses associated with keeping inventory at a warehouse are known as inventory holding costs. Inventory that is kept on hand is a liability that reduces profit margins and raises operating costs for firms.

Inventory holding expenses include rent for the facility, security fees, depreciation costs, and insurance.

Businesses must take demand planning and demand sensing into account when these prices rise. These technologies can help businesses keep the right amount of stock on hand.

Therefore, The category of inventory holding costs that are depicted, based on the information provided comprises pilferage, scrap, and obsolescence.

The complete question is:

Which category of inventory holding costs has a much higher percentage than average for rapid-change industries such as PCs and cell phones?

A) housing costs

B) material handling costs

C) pilferage, scrap, and obsolescence

D) investment costs

To know more about inventory holding costs refer to: brainly.com/question/15298484

#SPJ4

6 0
2 years ago
Under the Fair Credit Reporting Act, individuals rejected for insurance due to information contained in a consumer report (Choos
Lana71 [14]
I’m sorry I just need points
5 0
3 years ago
Edna had an accident while competing in a rodeo. She sustained facial injuries that required cosmetic surgery. While having the
Strike441 [17]

Answer:

C) $9,000

Explanation:

I guess Edna is a professional rodeo cowgirl. Any surgery done to treat her injuries caused by an accident while competing should be deductible. In this case the $9,000 spent to restore her appearance. But other surgeries for non-related cosmetic purposes are not deductible, e.g. chin surgery.

8 0
3 years ago
Other questions:
  • How often should you typically monitor your checking account?
    6·1 answer
  • ?fournotts printing inc. manufactures and sells photocopiers, printers, and scanners to various corporate offices. this is an ex
    10·1 answer
  • Which of the following accurately explain the importance of the ceteris paribus assumption for an economic model? Check all that
    15·1 answer
  • _____ is work done to keep equipment in good working order. Defragmentation Preventive maintenance Virus protection A maintenanc
    11·1 answer
  • Under IRS regulations, a gain or loss upon current disposition of an asset is first considered to be long term if the asset has
    15·1 answer
  • During March, Pendergraph Corporation incurred $65,000 of actual Manufacturing Overhead costs. During the same period, the Manuf
    10·1 answer
  • If aggregate demand and aggregate supply intersect on the vertical potential GDP curve; this indicates that: a. The economy has
    5·1 answer
  • A budget is prepared as part of a(n) _____ plan.
    6·2 answers
  • Baxter Co. wants to issue new 20-year bonds for some much-needed expansion projects. The company currently has 5.6 percent coupo
    15·1 answer
  • Financial tension may arise from large scale migration of low skilled labor into developed countries due to:_____.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!