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timofeeve [1]
3 years ago
10

On January 1, 2021, Legion Company sold $240,000 of 4% ten-year bonds. Interest is payable semiannually on June 30 and December

31. The bonds were sold for $150,272, priced to yield 10%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2021, in the amount of: (Round your answer to the nearest dollar amount.) Multiple Choice $4,800. $12,000. $7,514. $19,200.
Business
1 answer:
slavikrds [6]3 years ago
6 0

Answer:

$7,514

Explanation:

Calculation for how Legion should report bond interest expense for the six months ended June 30, 2021

Using this formula

Bond interest expense=Bonds amount*Priced to yield percentage

Bond interest expense=$150,272*(10%/2)

Bond interest expense=$150,272*5%

Bond interest expense=$7,513.6

Bond interest expense=$7,514 Approximately

Therefore Legion should report bond interest expense for the six months ended June 30, 2021 in the amount of $7,514

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A.)

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Suppose you buy a home and borrow $176,000 using a 30 year mortgage with an annual interest rate of 3.20% (compounded monthly).
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Answer:

Explanation:

Rate of interest =  3.2 / 12 = .266667

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amount = 176000

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Now the instalment is increased by 10% so

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= #837.25

No of years required from table

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5 0
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Ramkissoon Midwifery's cost formula for its wages and salaries is $2,060 per month plus $442 per birth. For the month of July, t
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Answer:

Spending variance will be equal to -729

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6 0
3 years ago
A company purchased a commercial dishwasher by paying cash of $4,200. The dishwasher's fair value on the date of the purchase wa
kogti [31]

Answer:

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Amount recorded for dishwasher= $4,760

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5 0
3 years ago
In many countries entrepreneurs and other business leaders, eager to protect their property rights and ensure the dispassionate
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Answer:

C) democratic reforms

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That was very in the late 80s and early 90s, and probably much earlier. The world was divided into two sides, the side that favored liberty and freedom (the US) and the communist evil nations.

In economic terms, communism and command economies meant that the government controlled most of a country's resources. This had a negative effect in that only politicians and their allies lived well and were rich, while the rest of the population was poor.

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6 0
3 years ago
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