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Cerrena [4.2K]
3 years ago
14

Carr Corporation retires its $100,000 face value bonds at 105 on January 1, following the payment of interest. The carrying valu

e of the bonds at the redemption date is $103,745. The entry to record the redemption will include a Group of answer choices
Business
1 answer:
Brrunno [24]3 years ago
4 0

Answer: A. debit of $3,745 to Premium on Bonds Payable.

Explanation:

The carrying value of the bonds at redemption date is $103,745.

The bonds retired however, had a face value of $100,000.

The company therefore paid a premium on these bonds which is:

= 103,745 - 100,000

= $3,745

This amount will be debited to the Premium on Bonds Payable account.

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Exercise 23-7 Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows. Month Units April 2,600 May 2,470
swat32

Answer:

Raw materials purchases cost for May 10,160

Explanation:

May production

sales            2,470

ending          2,130

beginning   <u> (2,200) </u>(ending of April)

<em>units to be produced 2,400</em>

Raw material budget

production needs                      2,400

desired ending inventory

       2,600 x 70% =                     1,820

beginning inventory

      may production x 70%

      2,4000 x 70%  =                 (1,680)

total raw materials purchase     2,540

It will puchase raw materials for 2,540 units. Each units require $4 of raw materials.

total cost for raw materials:

2,540 x $4 =  10,160

3 0
3 years ago
Mountain Monster Desert Dragon 2 Sales price $5,000.00 $5,275.00 3 Variable cost of goods sold 3,275.00 3,500.00 4 Manufacturing
zalisa [80]

Answer:

The question requires that we prepare a contribution margin report based on  the format provided in the full question which is attached herewith:

Explanation:

                              Contribution Margin Report by Product

                                                                 Mountain Monster     Desert Dragon

Revenue(4900*$5000)(4750*$5275)    $24,500,000          $25,056,250

Variable cost of goods sold

($3275*4900)($3500*4750)                   ($16,047,500)          ($16,625,000)

Manufacturing margin

($1725*4900)($1775*4750)                      $8,452,500           $8,431,250  

Variable selling expenses

(225*4900)(825*4750)                            ($1,102,500)           ($3,918,750)

Contribution margin

(1500*4900)(950*4750)                           $7,350,000              $4,512,500

Contribution margin ratio                            30.00%                          18.01%

(contribution/sales)

$7350,000/$24,500,000*100=30%

   $4,512,500/ $25,056,250=18%

             

Download xlsx
7 0
3 years ago
The ______is a financial statement detailing a firm's assets, liabilities, and owners' equity.
Naddik [55]
I had this question before, the answer I got correct is D
3 0
4 years ago
If a policyowner unintentionally pays premiums in excess of the MEC guidelines, the excess premium can be refunded by the insure
dangina [55]

Answer:

End of the contract year.

Explanation:

Calendar year deductibles (and refunds) operate on a regular calendar year basis, starting on January 1st and ending on December 31st. Generally refunds should be made during January and February of the next year.

If the policy works on a plan year basis, both the deductibles and the refunds will be based on the renewal date of the policy, and not the calendar year basis.

5 0
4 years ago
Use each of the key terms to complete the following sentences.
Degger [83]

Answer:

1. Negative reinforcement.

2. Social learning.

3. Behavior modification.

4. Extinction.

5. Classical conditioning.

Explanation:

Operant conditioning can be defined as an associative learning process which involves reinforcing the strength of a behavior. Thus, the outcome depends on the response in operant conditioning.

A reinforcement of a desired behavior involves the process of strengthening a positive behavior being exhibited by an individual through the use of stimulus.

Behavior modification is a therapeutic process that is focused on changing any undesirable negative behavior in an individual through the use of positive or negative consequence and biofeedback.

Behavior modification is typically based on operant conditioning principles, through negative or positive reinforcement, undesirable behaviors developed by an individual are mainly replaced with more desirable ones.

1. Negative reinforcement: every time the new machine is turned on it beeps loudly until the operator runs a full safety check on it. After the safety check is complete, the beeping stops.

2. Social learning: after watching a coworker get in trouble for deviating from the call center script while handling a customer, you decide to always say exactly what the company wants you to when speaking with customers.

3. Behavior modification: one of your subordinates is very inconsiderate and often leaves his empty coffee cups around the office when he is done rather than throwing them out. You start paying attention to when he throws out his trash and comment on how much this is appreciated and keeps the office looking nice.

4. Extinction: your colleague likes to tell inappropriate jokes before meetings and this makes you and the rest of your team uncomfortable. You and your teammates start ignoring the comments instead of smiling politely when the jokes are told to help eliminate the behavior.

5. Classical conditioning: Every time the HR representative comes to work dressed in a suit, layoff notices seem to be distributed. You and your colleagues start worrying whenever you see the HR representative dressed up for work.

Classical conditioning can be defined as a learning process which involves repeatedly pairing two stimuli: conditioned stimulus and unconditioned stimulus. In classical conditioning, a response which is at first brought forth by the second stimulus is later brought forth by the first stimulus alone.

Basically, it is a process through which a living organism learns to associate stimuli and as a result anticipating events.

5 0
3 years ago
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