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Anna [14]
3 years ago
15

Ivanhoe Company issued $492,000 of 10%, 20-year bonds on January 1, 2017, at 104. Interest is payable semiannually on July 1 and

January 1, Ivanhoe Company uses the straight-line method of amortization for bond premium or discount.
Prepare the journal entries to record the following.
(a) The issuance of the bonds.
(b) The payment of interest and the related amortization on July 1, 2017.
(c) The accrual of interest and the related amortization on December 31, 2017.
Business
1 answer:
mamaluj [8]3 years ago
5 0

Answer:

Explanation:

For  answer , see the attached file.

Download docx
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Ms. Jessup teaches 7th grade. Her students do not pay tuition to attend her school. Which describes the type of school that Ms.
iVinArrow [24]

Answer:

She is in a public middle school.

Explanation:

A middle school is a part of the stages of the education system that exist between the primary school and the high school. It plays the function of the intermediate school between the two stages. Public middle schools are the schools that run on the funds provided by the government. Either the state of the federal government may provide grants to run the school.

In the given excerpt, the type of school in which Ms. Jessup is the teacher is the public middle school. She is the teacher of the seventh grade and in this school, the students do not pay their tuition fees. This means that the school is run by the grants provided by the government.

4 0
3 years ago
Read 2 more answers
If $500 is invested at an annual interest rate of 8% per year, its future worth at the end of 30 years will be most nearly:
Olenka [21]

Answer:

FV=5031.32844

FV≅$5031

Future worth at the end of 30 years will be most nearly $5031.

Explanation:

In order to find the Future value after 30 years, we are going to use the following formula:

FV=PV*(1+i)^n

where:

FV is the future value (End of 30 years)

PV is the present value ($500)

i is the interest rate=8%=0.08

n is the number of years (30 years)

Now,

FV=PV*(1+i)^n

FV=500*(1+0.08)^{30}

FV=5031.32844

FV≅$5031

Future worth at the end of 30 years will be most nearly $5031.

8 0
3 years ago
According to the U.S. government's current data, a single adult earning $12,140 or a family of four earning $25,100 before taxes
Dominik [7]

The year that the U.S. Poverty line calculation was developed and began to be used was <u>1964</u>.

<h3>What year was the U.S. poverty line calculation developed?</h3>

In the year 1964, the Council of Economic Advisers (CEA) came up with an amount of $3,000 for the poverty line.

The Council recommended to President Johnson that any family earning below this amount in a year should be considered poor.

Find out more on the poverty line at brainly.com/question/13522306.

3 0
3 years ago
Metropolitan Water Utility is planning to upgrade its SCADA system for controlling well pumps,booster pumps, and disinfection eq
Licemer1 [7]

Answer:

net wortht  -143,280.85

equivalent annual cost $ 24,932.98

Explanation:

We sovle for the present value of each annuity:

<em><u>The first three years:</u></em>

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 31,000.00

time 3

rate 0.08

31000 \times \frac{1-(1+0.08)^{-3} }{0.08} = PV\\

PV $79,890.0066

<em><u>Then the second phase annuity:</u></em>

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 20,000.00

time 5

rate 0.08

20000 \times \frac{1-(1+0.08)^{-5} }{0.08} = PV\\

PV $79,854.2007

NOw, we discount this as it is three years into the future

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity  $79,854.2007

time  3.00

rate  0.08000

\frac{79854.2007415617}{(1 + 0.08)^{3} } = PV  

PV   63,390.8391

Total net worth:

79,890.0066    -   63,390.8391    =   -143,280.85

The EAC will be the annuity which makes the Present work

PV \div \frac{1-(1+r)^{-time} }{rate} = C\\

PV 143,280.85

rate 0.08

time 8

143280.85 \div \frac{1-(1+0.08)^{-8} }{0.08} = C\\

C  $ 24,932.983

7 0
3 years ago
Short Corporation acquired Hathaway, Inc., for $53,350,000. The fair value of all Hathaway's identifiable tangible and intangibl
damaskus [11]

Answer:

$0

Explanation:

Based on the information given No annual amortization of goodwill for this acquisition based on the fact that GOODWILL as an asset will remain forever because they won't dilapidate or worn out which is why GOODWILL are not amortized and Secondly we cannot see or touch GOODWILL which is why they are called intangible asset .

Therefore the annual amortization of goodwill for this acquisition will be $0.

5 0
3 years ago
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