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kaheart [24]
3 years ago
8

Daniel purchased a bond on July 1, 2020, at par of $10,000 plus accrued interest of $300. On December 31, 2020, Daniel collected

the $600 interest for the year. On January 1, 2021, Daniel sold the bond for $10,200.
a. Daniel must recognize $300 interest income for 2020 and a $200 gain on the sale of the bond in 2021.
b. Daniel must recognize $600 interest income for 2020 and a $200 gain on the sale of the bond in 2021.
c. Daniel must recognize $300 interest income for 2020 and a $100 loss on the sale of the bond in 2021.
d. Daniel must recognize $600 interest income for 2020 and a $100 loss on the sale of the bond in 2021.
Business
1 answer:
pochemuha3 years ago
6 0

Answer:

Daniel must recognize $300 interest income for 2020 and a $200 gain on the sale of the bond in 2021.

Explanation:

Interest Income for 2020 = Interest collected during the year - Accrued interest at the time of purchase of bond

Interest Income for 2020 = $600 - $300

Interest Income for 2020 = $300

Gain on sale of bond on January 1, 2021 = Selling price of the bond - Purchase price of the bond

Gain on sale of bond on January 1, 2021 = $10,200 - $10,000

Gain on sale of bond on January 1, 2021 = $200

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Paha777 [63]

Answer:

$165,000

Explanation:

Data provided in the question;

variable overhead data

                                                                           Actual                   Budgeted

Production                                                       30,000 units          24,000 units

Machine-hours                                                15,000 hours         10,800 hours

Variable overhead cost per machine-hour        $11.00                   $11.25

Now,

The actual variable overhead cost will be

= Actual machine hour × Actual Variable overhead cost per machine-hour

= 15,000 × $11.00

= $165,000

Hence,

The actual variable overhead cost for the Roberson Corporation is $165,000

5 0
3 years ago
You own a house that you rent for $1,400 per month. The maintenance expenses on the house average $260 per month. The house cost
Anni [7]

Answer:

$232,760

Explanation:

you must first determine the market value of your house = appraisal value - sales expenses = $253,000 - $20,240 = $232,760

the market value of the house is your opportunity cost of using the house as an office.

opportunity costs are the extra costs or benefits lost resulting from choosing one investment or activity over another alternative.

3 0
3 years ago
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Nesterboy [21]
Overhead is any cost that cannot be traced back to the physical product (i.e. not direct materials and direct labor). Therefore, we cannot use the direct labor and beginning raw materials in the calculation. The total factory overhead costs are $8,600.
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Source: Finance MBA student :)
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