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spin [16.1K]
2 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]2 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)

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Lena [83]

Answer:

a job i hate becasue they pay well

Explanation:

3 0
2 years ago
Corris Co. accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost Ja
Sedbober [7]

Answer:

Variable cost per unit= $1.5

Fixed costs= $2,000

Explanation:

Giving the following information:

Miles Driven Total Cost

January 10,000 $17,000

February 8,000 13,500

March 9,000 14,400

April 7,000 12,500

<u>To calculate the variable and fixed costs under the high-low method, we need to use the following formula:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (17,000 - 12,500) / (10,000 - 7,000)

Variable cost per unit= $1.5

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 17,000 - (1.5*10,000)

Fixed costs= $2,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 12,500 - (1.5*7,000)

Fixed costs= $2,000

5 0
3 years ago
True or false: It's inevitable that budgeting will hinder enjoyment of life, forcing people to make financial sacrifices.
NeTakaya

Based on financial analysis, it is <u>False</u> that It's inevitable that budgeting will hinder the enjoyment of life, forcing people to make financial sacrifices.

<h3>What is Budgeting?</h3>

Budgeting Is the process of making a financial plan which includes planning on expenses, revenue, savings, assets, liabilities, cash flow, etc.

<h3>Benefits of Budgeting</h3>

There are various benefits of budgeting, some of which include the following:

  • For providing limits or guides to spend.
  • To achieve financial goals.
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  • To aid better retirement, etc.

Hence, in this case, it is concluded that the correct answer is "<u>False</u>."

Learn more about Budgeting here: brainly.com/question/22532334

7 0
2 years ago
The present value​ (PV) of an investment is​ ________.
emmasim [6.3K]

Answer:

A

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Present Value relates to the  amount that an investment would yield if the benefit were realized today. it is said to be the value of the future economic benefits an entity can generate

8 0
3 years ago
So is everyone equally free when it comes to spending their money
almond37 [142]
In a way, everyone is completely and equally free when spending their money. However, this could be argued because some have more money than others. You are free to do what you want with the funds available to you.
8 0
3 years ago
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