F r e e p t p l p !!!!!!!!!!!!!!

The trade war between the USA and China has put pressure on the international supply chain. However, it also conditioned for tra

Ann [662]

it helps to you I guess

jas read it❤

5 0

3 years ago

Holiday Company issued its 9%, 25-year mortgage bonds in the principal amount of $3,000,000 on January 2, 2006, at a discount of

elixir [45]

Answer:

A. December 18, 2020

Dr Cash 4,080,000

Cr 11% Bond payable (Face value) 4,000,000

Cr Premium on issue of Bond payable 80,000

January 2, 2021

Dr 9% Bonds Payable ( Face value) 3,000,000

Dr Loss on redemption of Bond 180,000

Cr Discount on Bond payable 60,000

Cr Cash 3,120,000

B. The LOSS is reported as an ORDINARY INCOME

Explanation:

A. Preparation of Journal entries

December 18, 2020

Dr Cash 4,080,000

($4,000,000/100)*102

Cr 11% Bond payable (Face value) 4,000,000

Cr Premium on issue of Bond payable 80,000

(4,080,000-4,000,000)

January 2, 2021

Dr 9% Bonds Payable ( Face value) 3,000,000

Dr Loss on redemption of Bond 180,000

[3,00,0000-(3,120,000+60,000)]

Cr Discount on Bond payable 60,000

($150,000/25)*10

Cr Cash 3,120,000

(3,000,000*104%)

B. Indication of the income statement treatment of the gain or loss from redemption.

The LOSS is reported as an ORDINARY INCOME

8 0

3 years ago

2. Selected data from the Carmen Company at year end are presented below: Total assets $2,000,000 Average total assets 2,200,000

erik [133]

Answer:

a) 65%

b) 11.4%

c) 25%

d) $25 per share

Explanation:

(a) Ratio of sales to assets = Sales revenue / Total assets

= $1,300,000/ $2,000,000 = 65.0%

(b) Rate earned on total assets = Annual net income / Average total assets

= $250,000 / $2,200,000 = 11.4%

(c) Rate earned on common stockholder's equity = Net Income / Average common stockholder's equity

= $250,000 / $1,000,000 = 25%

(d) Earning per share on common stock = Net Income / Share of common stock outstanding

= $250,000 / 10,000 = $25 per share

8 0

3 years ago

Do you think that higher pay caused higher productivity and lower turnover for Aetna?

antiseptic1488 [7]

Yes of course. When people are given a higher salary there is a much better chance of them to work more. Look at it this way: If someone pays you $8 an hour and someone else pays you $10 for the same exact job, which one are you most likely going to choose? The second one, right? And with that higher pay per hour will most likely result in better work ethic and more production.

7 0

3 years ago

If you were to apply for an administrative personnel position, what might you explain about yourself so that you sound qualified

gtnhenbr [62]

I am good at filing and organizing paper

5 0

3 years ago