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Cerrena [4.2K]
2 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]2 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.

You might be interested in
Marquis Company estimates that annual manufacturing overhead costs will be $809,000. Estimated annual operating activity bases a
navik [9.2K]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Marquis Company estimates that annual manufacturing overhead costs will be $809,000. Estimated annual operating activity bases are direct labor cost $494,000, direct labor hours 52,400, and machine hours 108,200.

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Direct labor:

Estimated manufacturing overhead rate= 809,000/494,000= $1.64 per direct labor dollar

Direct labor hours:

Estimated manufacturing overhead rate= 809,000/52,400= $15.44 per direct labor hour

Machine hours:

Estimated manufacturing overhead rate= 809,000/108,200= $7.48 per machine hour

8 0
3 years ago
Nan and Neal are twins. Nan invests $5,000 at 7 percent at age 25. Neal invests $5,000 at 7 percent at age 30. Both investments
baherus [9]

Answer:

Resulta are below.

Explanation:

Giving the following information:

Nan:

Initial investment= $5,000

Interest rate= 7% compounded annually

Number of years= 60 - 25= 35

Neal:

Initial investment= $5,000

Interest rate= 7% compounded annually

Number of years= 60 - 30= 30

<u>To calculate the future value, we need to use the following formula:</u>

FV= PV*(1+i)^n

<u>Nan:</u>

FV= 5,000*(1.07^35)

FV= $53,382.31

<u>Neal:</u>

FV= 5,000*(1.07^30)

FV= $38,061.28

8 0
3 years ago
Broad, Inc. had a beginning inventory of $50,000 and an ending inventory of $80,000. Its Cost of Goods Sold for the year was $97
nevsk [136]

Answer:B. $1,000,000

Explanation :

Given that

beginning inventory = $50,000

Cost of Goods Sold =$970,000.

ending inventory = $80,000.

Using the formula below  to find the amount of purchases , we have that

Cost of Goods Sold  = Beginning Inventory + Purchases During the Period – Ending Inventory

$970,000 =$50,000+Purchases During the Period  -$80,000

Purchases During the Period =$970,000 -$50,000 +$80,000

Amount of Purchases During the Period for Broad, Inc.  = $ 1,000,000

8 0
3 years ago
Laws represent the standards of ________ behavior.
Leona [35]

Answer:

B. legal

Explanation:

Law -

Law refers to the combination of rules and regulation , which are made and acted in order regulate conduct and management , in the society , is referred to as law.

These rules need to be followed by each and every individual , and there are strict outcome of not following the rules of law.

It is also known as the art of justice and is a the legal material .

Hence , from the question,

The correct term from the given option is legal behavior.

7 0
3 years ago
Beginning merchandise inventory would be found on the worksheet in the
mrs_skeptik [129]
<span>A. income statement debit column</span>
6 0
3 years ago
Read 2 more answers
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