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Mrrafil [7]
3 years ago
6

On January 1, Novak Corp. issued $3600000, 14%, 5-year bonds with interest payable on December 31. The bonds sold for $3859546.

The market rate of interest for these bonds was 12%. On the first interest date, using the effective-interest method, the debit entry to Interest Expense is for
Business
1 answer:
Juliette [100K]3 years ago
6 0

Answer:

the debit entry to Interest Expense is $463,145.52

Explanation:

The computation of the debit entry to Interest Expense is given below:

= Bonds carrying value × Market rate of interest

= $3,859,546 × 12%

= $463,145.52

Hence, the debit entry to Interest Expense is $463,145.52

We simply applied the above formula and the same is to be considered

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Crane Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available
wlad13 [49]

Answer:

c) $222,500 $313,500

Explanation:

Calculation for cost-to-retail ratio

COST

Beginning inventory $ 30,000

Add: Purchases $190,000

Add: Freight-in $2,500

Cost=$222,500

RETAIL

Beginning inventory $ 45,000

Add: Purchases $260,000

Add: Net markups $8,500

Retail = $313,500

Therefore the cost-to-retail ratio will be $222,500 $313,500

4 0
3 years ago
Liquidity ratios are used to measure a firm's ability to meet its obligations as they come due. Two of the most commonly used li
marshall27 [118]

Answer:

Current Ratio= Current Assets/ Current Liabilities

Explanation:

Current Ratio= Current Assets/ Current Liabilities

The current ratio is an important measure of a company's ability to pay its short term obligations. It is defined as current assets divided by current liabilities.

Current assets are cash and other resources that are expected to be sold or used within one year or the company's operating cycle , whichever is longer. Examples are cash, short term investments , accounts receivable, short term notes receivable, goods for sale ( called merchandise or inventory) and prepaid expenses. Prepaid expenses are usually listed last because they will not be converted to cash ( instead they are used).

Current liabilities are obligations due to be paid or settled within one year of operating cycle, whichever is longer. they are usually settled by paying out current assets such as cash . Current liabilities often include accounts payable , notes payable, wages payable, taxes payable, interest payable and unearned revenues. Also any portion of a long term liability due to be paid within one year or the operating cycle whichever is longer is a current liability.

3 0
3 years ago
If some activity creates external benefits as well as private benefits, then economic theory suggests that the activity ought to
svetlana [45]
The answer is subsidized
3 0
2 years ago
Describe a strategy for handling unethical practices
Misha Larkins [42]

Answer:

Don't Take Action without Evidence. Before you do anything, you need to make sure you know the facts. ...

Follow Company Procedure. If you can, you should follow company procedure on reporting unethical behavior. ...

When the Issue Goes Beyond Being Unethical. ...

Consider Going Elsewhere.

Explanation:

I dunno if my answer can help you ill just try to help, I hope my answer can help you!

8 0
2 years ago
Navy Seals go through extremely difficult training. Those who succeed becomemembers of one of the most elite fighting units in t
Gemiola [76]

Answer:

The correct answer is letter "A": cohesion.

Explanation:

Cohesion refers to property among individuals by which they complement each other. These individuals have a certain knowledge of one another that allows them to have a clear idea of how their behavior is, then, they try to help among them to be more as a team than prioritizing self success. Cohesion in teams is a determinant factor that could lead them to success or failure.

4 0
3 years ago
Read 2 more answers
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