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mafiozo [28]
3 years ago
12

On September 30, Franz Corporation notices a decline in value of its investment in held-to-maturity bonds that it believes to be

other than temporary. On that date, the carrying value of the bonds is $38,500 and the fair value is $22,980.
Required:
Prepare the journal entry to record the impairment.
Business
1 answer:
never [62]3 years ago
3 0

Answer:

Dr Loss on Impairment $15,520.00

Cr Maturity Debt Securities $15,520.00

Explanation:

Preparation of the journal entry to record the impairment.

Journal entry

Sep. 30

Dr Loss on Impairment $15,520.00

Cr Maturity Debt Securities $15,520.00

($38,500-$22,980=$15,520)

(To record the impairment)

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atroni [7]

Answer:

one should go to buy a car for $8000

Explanation:

given data

car = $8,000

price down = $6,500

solution

As here Implied Warranty is the sale contract environment oral or written that provides some assurance that the products sold are suitable for trade and purpose. It arises from the operation of the law.

  • Disclaimer is a statement that order are used to prevent the creation of a warranty or contract.
  • After learning about the implied warranty and disclaimer, I was not going through the items sold.
  • For someone who does not offer special consumer protection, they should go to buy a car for $8000.
7 0
3 years ago
The following labor standards have been established for a particular product:
swat32

Answer:

$2,430F

Explanation:

The formulae for labor rate variance is given as (Actual rate - Standard rate) × Actual hours worked.

Labor rate variance = (Actual rate - Standard rate) × Actual hours worked

Given that;

Actual rate = Actual total labor cost ÷ Actual hours worked

= $119,880 ÷ 8,100

= $14.8 per hour

Standard rate = $15.10 per hour

Actual hours worked = 8,100

Labor rate variance = ($14.8 - $15.10) × 8,100

Labor rate variance $2,430F

8 0
3 years ago
Question help what is the definition of​ monopoly?
Juliette [100K]
Monopoly is a seller<span> that is selling a unique product in the market and in a </span>monopoly<span> market, the seller faces no competition. </span>
A firm that is a monopoly can ignore the actions of other firms. From the given option the following best describes monopoly:
<span>C: A monopoly is a firm that is the only seller of a product in a given industry.</span>
8 0
3 years ago
Extreme Adventurer, an outdoor nature magazine, marketed to potential customers who recently purchased camping equipment and fou
MrRa [10]

Answer:

potential customers who recently purchased camping equipment and four-wheel drive trucks.

Explanation:

  • The call to action has a huge potential hidden in reaching out to the customers and making them call for outdoor nature and adventure.
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  • Those people who usually stay at home and are unable to move out due to some reason can use their purchased camping equipment and four-wheel-drive trucks.
7 0
3 years ago
If a department that applies process costing starts the reporting period with 40,000 physical units that were 80% complete with
andriy [413]

Answer:

True

Explanation:

<em>Equivalent units are notional whole units which represent incomplete work and are used to apportion cost between work progress and completed work. These units are determined as follows: </em>

Equivalent units = Degree of work done(%) × units of inventory

Equivalent units

<em>Direct material:</em>

Balance of work = 100-80 = 20%

Equivalent of work to be added = 20% × 40,000 = 8,000

<em>Labour</em>

Balance of work = 100-50= 50%

Equivalent of work to be added =50% × 40,000 = 20,000 units

                                    <em>Equivalent of work to be added(units)</em>

Material                               8000                                  

Labour                               20,000

8 0
2 years ago
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