Answer:
B. Interest Expense 9,900 120 Premium on Bonds Payable Cash 10,020
Explanation:
Based on the information given the correct journal entry to record the first interest payment will be:
Dr Interest Expense 9,900
($180,000 × 11% × 6/12 = $9900)
Dr Premium on Bonds Payable120
(10,020-9,900)
Cr Cash 10,020
($167,000 × 12% × 6/12 = 10,020)
(Being to record first interest payment)
Answer:
False.
Explanation:
China became a member of the World Trade Organization (WTO) in December 11, 2001.
Answer: (A) Change in an accounting principle
Explanation:
According to the given question, the finer food Inc., is one of the company which using the average cost technique for measuring the inventory process.
So, the change made in the company is reported in the form of financial statement as change in an accounting principle of flow of the physical products.
The accounting change is the term which is used for reporting an entity and the estimating and evaluation the various types of asserts and liabilities in an organization.
Therefore, Option (A) is correct answer.
Answer:
10400
value deprecates by 2600 each year
13000 ÷ 6 = 2600
first year 13000
2nd year 10400
3rd year 7800
4th yr 5200
5th year 2600
6th yr 0
ig...
Answer:
$10.00
Explanation:
Calculation to determine The selling price that would maintain the same contribution margin ratio as last year is
Based on the information given since variable cost increased by one-third (1/3) which means that the selling price amount has to as well increase by the same one-third (1/3) in order to maintain the same contribution margin ratio as last year.
Hence:
Selling price =$7.50+(1/3*$7.50)
Selling price=$7.50+$2.50
Selling price=$10.00
Therefore The selling price that would maintain the same contribution margin ratio as last year is $10.00
