1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
The accounts payable account is a/an_______ ___, and it has a normal.
Viktor [21]

The accounts payable account is a/an option C: <u>liability; credit, </u>and it has a normal.

<h3>What do you mean by Account payable?</h3>

A account payable is refers to as the monet owned by a company to its supplies and its represent in the firm's balance sheet.

The main role of account payable os to provide financial, administrative and clerical support to the firm. Their main role include complete the whole payment and control expenses.

Moreover, it is considered as the liability for each business because the company have to pay back its all due on particular period of time and it is credit in nature.

Hence, rest all options like A, B and D are incorrect because it does not considered under the account payable account.

Therefore, correct option is C.

Learn more about Account payable, refer to the link:

brainly.com/question/14438810

#SPJ1

5 0
1 year ago
Suppose that a large lake in the middle of Minnesota evaporates, leaving more fertile farm land for growing corn available. Assu
densk [106]

Wages would fall as the number of workers available grows. Landowners in Louisiana will earn more rent as the demand for land increases.

<h3>What is the law of demand and supply?</h3>

The law of supply and demand is still in effect:

Wages: when the amount supplied increases, but the quantity required does not, the price falls.

When the quantity required increases without the quantity supplied increasing, the price rises.

Thus, Wages would fall as the number of workers available grows.

For more details about law of demand, click here:

brainly.com/question/14273030

#SPJ1

7 0
2 years ago
Tru or false? the older traditional form of management structure is the horizontal organization
Tamiku [17]
The answer is false.
7 0
3 years ago
A company has many underutilized compute resources on-premises. which aws cloud feature will help resolve this issue?
BaLLatris [955]

AWS cloud feature will help resolve this issued as<u> Elasticity.</u>

<u></u>

<h3>What is elasticity ?</h3>

Elasticity is an economic measure of how sensitive one economic factor is to changes in another. For example, changes in supply or demand to the change in price, or changes in demand to changes in income.

<h3>What is Hooke's law of elasticity?</h3>

Hooke's law, law of elasticity discovered by the English scientist Robert Hooke in 1660, which states that, for relatively small deformations of an object, the displacement or size of the deformation is directly proportional to the deforming force or load.

<u></u>

To learn more about Elasticity, refer

brainly.com/question/5078326

#SPJ4

7 0
1 year ago
General Mills and Nestlé work together to distribute General Mills products in about 140 international markets from Mexico to Ch
Flura [38]

Answer: a strategic channel alliance

                                   

Explanation: In simple words, strategic alliance refers to a business arrangement in which two organisations combine their resources for their mutual benefits.

Under such an arrangement two organisation agrees to combine their activities and efforts for a particular objective but still remain independent as two separate entities.

Such alliances are generally evident in situation where companies wants to exploit foreign markets. Hence from the above we can conclude that the arrangement between general mills and nestle is a strategic alliance.

5 0
3 years ago
Other questions:
  • If your uncle borrows $69,000 from the bank at 11 percent interest over the nine-year life of the loan. Use Appendix D for an ap
    13·1 answer
  • Name three factors that can contribute to increased productivity in a country?
    14·1 answer
  • Midwest Corporation has provided the following data concerning manufacturing overhead for 2020:
    13·1 answer
  • A company did a comprehensive examination of how pit crews in an auto race work to quickly get a racecar into the pit area, gas
    12·1 answer
  • Security A offers an expected return of 14%, with a standard deviation of 8%. Security B offers an expected return of 11%, with
    12·1 answer
  • YO GUYS mator12 IS A BIG BABY
    14·1 answer
  • At a recent staff meeting, the vice president of marketing appeared confused. The controller had assured him that the parent com
    8·1 answer
  • An investor is considering buying a restaurant that has been in operation for a number of years. The restaurant has a highly reg
    14·2 answers
  • What is the routine business of fmcg
    5·1 answer
  • What is the difference between statistics and business statistics?​
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!