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Dominik [7]
3 years ago
7

The management accountant for Giada's Book Store has prepared the following income statement for the most current year: Cookbook

Travel Book Classics Total Sales $63,000 $179,000 $60,000 $302,000 Cost of goods sold 37,000 70,000 23,000 130,000 Contribution margin 26,000 109,000 37,000 172,000 Order and delivery processing 19,000 26,000 9,000 54,000 Rent (per sq. foot used) 3,000 3,000 3,000 9,000 Allocated corporate costs 10,000 10,000 10,000 30,000 Corporate profit $ (6,000) $70,000 $15,000 $79,000 If the cookbook product line had been discontinued prior to this year, the company would have reported ________. the same amount of corporate profits less corporate profits greater corporate profits resulting profits cannot be determined
Business
1 answer:
mylen [45]3 years ago
6 0

Answer:

the company would have reported loss

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Prepare journal entries to record the issuance of the bonds and the retirement of bonds. (Show computations and round to the n..
Vikentia [17]

Answer:

issuance entry:

cash                   2,850,000 debit

discount on BP     150,000 debit

         bonds payable           3,000,000 credit

--to record issuance--

bonds payable      600,000 debit

loss on redemption 30,000 debit

interest expense     56,250 debit

                 cash                     662,250 credit

                 discount on BP      24,000 credit

--to record redemption ---

Explanation:

proceeds at issuance : $3,000,000 x 95/100 = 2,850,000

the difference will be the discount.

Now, when the bonds are retired we have to check the weight:

3,000,000 --> 120,000

  600,000 --> 120,000/3,000,000 x 600,000 = 24,000

<u><em>cash outlay</em></u> 600,000 x 101/100 = 606,000

loss redemption

we pay 606,000

for bonds which are worth: 600,000 - 24,000 = 576,000

The loss is the difference.

then, we calcualte the accrued interest:

principal x rate x time

3,000,000 x 7.5% x 3/12 = 56,250‬

this will be an interest expense

as well as an additional cash outlay

5 0
3 years ago
The NYSE is an example of a(n) _______________ exchange while NASDAQ is an example of a(an) __________________ market. Organized
Lilit [14]

Considering the functions and operations of the organizations, The NYSE is an example of a(n) <u>Organized</u> exchange while NASDAQ is an example of a(an) <u>Over the Counter</u> market.

NYSE is an acronym for the <u>New York Stock Exchange.</u> It is generally considered the most significant capital market in the world, with over $30 trillion. Its stock market is deemed to be stable. It is also known as a designated market.

On the other hand, NASDAQ is an acronym for National Association of Securities Dealers Automated Quotations. However, its stock market is considered to be volatile. It is also a dealer market

Hence, in this case, it is concluded that the correct answer is option A. "<u>Organized; over-the-counter."</u>

Learn more here: brainly.com/question/21993468

7 0
3 years ago
1. What is the relationship between forward rates and the market’s expectation of future short rates? Explain in the context of
Dvinal [7]

Through the expectations hypothesis and the liquidity preference theory of the term structure of interest rates, liquidity must be zero for the forward rate to be equal to the expectations of future short rates.

<h3 /><h3>What is expectation theory?</h3>

Corresponds to a forecast of short-term interest rates by analyzing them against current long-term interest rates.

Therefore, it is a theory used to assist in better understanding and forecasting short-term securities trading in the future.

Find out more about expectation theory here:

brainly.com/question/20630240

#SPJ1

6 0
2 years ago
A(n) ________ is defined as a business that is independently owned and operated and is not dominant in its field of operations.​
Wittaler [7]
A Small business is defined as a business that is independently owned and operated and is not dominant in its field of operations.
7 0
3 years ago
Suppose the real risk-free rate is 3.00%, the average expected future inflation rate is 5.90%, and a maturity risk premium of 0.
never [62]

Answer:

the rate of return that expected on one year treasury security is 9.00%

Explanation:

The computation of the rate of return that expected on one year treasury security is as followS

= Risk free rate + average expected future inflation rate + maturity risk premium

= 3.00% + 5.90% + 0.10%

= 9.00%

Hence, the rate of return that expected on one year treasury security is 9.00%

Therefore the correct option is d.

And, the rest of the options are wrong

5 0
2 years ago
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