Answer:
Taylor Company
The negligence to amortize the discount on outstanding ten-year bonds payable is the understatement of interest expense for each year. This means that the interest expense will be the same for each year instead of increasing by the amortized discount amount. The same applies to the bond carrying value, which will remain the same throughout the period.
Explanation:
The discount on bonds payable is an additional interest expense, which is written off yearly over the bonds' maturity period through amortization. It increases the amount of the periodic interest payment by the amortized discount.
Answer:
$34 per hour
Explanation:
Direct labor hour
s:
= Labor cost ÷ Rate per hour
= $36,550 ÷ $17
= 2,150 Direct labor hours
Predetermined overhead rate
:
= Overhead applied on the basis of direct labor hour ÷ Number of hours
= $73,100 ÷ 2,150 hrs
= $34 per hour
Therefore, the predetermined overhead rate using the labor rate of $17 per hour is $34 per hour.
Answer:
buying the bill at a discount from the face value to be received at maturity.
Explanation:
Treasury bills also referred to as T-bills are short term financial instruments. T-bills are issued at a discount from the face value or par value of the bill. Therefore, a T-bill which has a face value of $2000 may have a purchase price of $1,500. The investor will buy the T-bill for $1,500 and upon maturity of the instrument, the investor will receive $2000. The difference between the purchase price of $1,500 and the amount received at maturity of $2000 is interest earned by the investor.
Answer:
Refer below.
Explanation:
Answer is intended both & Done.
