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
hodyreva [135]
2 years ago
7

Coronado Company received proceeds of $209000 on 10-year, 5% bonds issued on January 1, 2016. The bonds had a face value of $220

000, pay interest annually on January 1, and have a call price of 102. Coronado uses the straight-line method of amortization. Coronado Company decided to redeem the bonds on January 1, 2018. What amount of gain or loss would Coronado report on its 2018 income statement
Business
1 answer:
Aleksandr [31]2 years ago
6 0

Answer:

Coronado Company

The amount of gain or loss that Coronado would report on its 2018 income statement is:

= $13,200.

Explanation:

a) Data and Calculations:

Bonds proceeds = $209,000

Bonds face value =  220,000

Bonds Discounts = $11,000

Period of bonds = 10 years

Straight-line amortization = $1,100 annually

Interest payment = annually

Coupon rate rate = 5%

Fair value on January 1, 2017 = $210,100 ($209,000 + $1,100)

Fair value on January 1, 2018 = $211,200 ($210,100 + $1,100)

Call price = 102

Total call value (cash payment) = $224,400 ($220,000 * 102/100)

Loss to report on its 2018 income statement = $13,200 ($224,400 - $209,000 - $2,200)

You might be interested in
During a recent​ month, Canon Company planned to provide cleaning services to 30 customers for $ 26 per hour. Each job was expec
prisoha [69]

Answer:

$1,950 more than expected

Explanation:

In this question ,we have to compare the revenues based on expected and the actual

So, the expected revenues would be

= Number of customers × per hour rate × expected time spent

= 30 customers × $26 × 8 hours

= $6,240

And, the actual revenues would be

= Number of increased customers × per hour rate × average time spent

= 42 customers × $26 × 7.5 hours

= $8,190

The revenue is increased by

= $8,190 - $6,240

= $1,950 more than expected

This is the answer but the same is not provided in the given options

7 0
3 years ago
The owner of an orange grove must decide when to pick one variety of oranges. She can sell them for $27 a bushel if she sells th
uysha [10]

Answer:

The oranges should be picked in 2 weeks for maximum return

Explanation:

We assume that the return of the owner is y ($)

Assume that the number of weeks the oranges should be picked to have maximum return is x (weeks). (x≥0)

If collect now, the price for each bushel is $27

As the price per bushel decrease by $1.50 per bushel each week

=> After x weeks, the price of a bushel decrease: 1.5x ($)

=> The price of 1 bushel after x weeks is: 27 - 1.5x ($)

If collect now, each tree can yield 7 bushels

As the yield increases by half a bushel per week for the next 5 weeks

=> After x weeks with x ≤ 5, each trees would yields: 7 + 0.5x (bushels)

The return = The price of each bushes × The quantity of bushels

=> y = (27-1.5x)(7+0.5x)

⇔y= 27 (7 +0.5x) - 1.5x(7+0.5x) = 189 + 13.5x - 10.5x - 0.75x^{2}

⇔y = -0.75x^{2} +3x +189

We have: if the equation has the form of y =ax^{2} +bx +c with a≠0, its maximum value is: max y = c - \frac{b^{2} }{4a}

In the equation y = -0.75x^{2} +3x +189, we have: a = -0.75; b = 3; c = 189

=> max y = c -\frac{b^{2} }{4a} = 189 - \frac{3^{2} }{4.(-0.75)} = 189 - \frac{9}{-3}  = 189 - (-3) = 189+3 = 192

To look for the number of weeks, we should find x (0≤x≤5) with which y = 192

192 = -0.75x^{2} +3x +189

⇔-0.75x^{2} + 3x + 189 - 192 = 0

⇔-0.75 x^{2} + 3x - 3 =0

⇔-0.75x^{2}  + 4*0.75x - 0.75*4 =0

⇔x^{2} -4x + 4 = 0

⇔ (x-2)^{2}  = 0

⇔ x = 2

The oranges should be picked in 2 weeks for maximum return

7 0
2 years ago
How much resistance is ther in a 12-volt circuit with a 2-amp current
Nataly [62]

GIVEN -> Voltage in circuit = 12 V 
 Current in circuit = 2 A  
To find resistance we will use the well known equation or Ohms Law equation,
 which is; V = IR 
 hence R = V/I
  R = (12 V) / 2 A
  R = 6 ohm 
 therefore, ideally the resistance in the circuit would be equal to 6 ohms.
6 0
2 years ago
Can cathy withdraw money from her ira savings account
AlladinOne [14]
We would be able to answer that but we don't have enough information to
7 0
2 years ago
Read 2 more answers
Information for Pidris Metalworks as of December 31 follows. Prepare (a) the company's schedule of cost of goods manufactured fo
Julli [10]

Answer: hello your question is incomplete attached below is the missing data. ( first image )

answer:

Attached below

Explanation:

A) company's schedule of cost of goods manufactured for year ended

attached below is the required schedule ( second Image )

B) Company's income statement

attached below is the company's income statement ( Image 3 and 4 )

7 0
2 years ago
Other questions:
  • When the economy enters a​ recession, your employer is​ ___________ to reduce your wages because​ _______.
    11·1 answer
  • Susan is a new management trainee at Barney's Bats, Inc. She has just graduated with her bachelor's degree in management and is
    14·1 answer
  • Nick, a skilled welder, had been working for 12 years in a factory that recently closed. This has caused high unemployment in hi
    14·1 answer
  • A food truck is an example of which kind of distribution channel?
    8·2 answers
  • A special agreement between the lender and the borrower to delay a foreclosure is known as what...? Lis Pendens Postponement For
    8·1 answer
  • Under which model of oligopoly are firms more likely to engage in a price war, driving down prices to marginal cost and resultin
    10·1 answer
  • Publix has 2,700 pounds of bananas with a total cost of $864. Because the bananas have become too ripe, Publix is contemplating
    6·1 answer
  • Special Order Nature's Garden, a new restaurant situated on a busy highway in Pomona, California, specializes in a chef's salad
    9·1 answer
  • Nickleson Company had an unadjusted cash balance of $7,750 as of May 31. The company’s bank statement, also dated May 31, includ
    10·1 answer
  • For the composite method, the composite...(a)rate is the total cost divided by the total annual depreciation.(b)rate is the tota
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!