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vfiekz [6]
2 years ago
15

Ivanhoe Company issued $1520000 of 6%, 5-year bonds at 95, which pay interest annually. Assuming straight-line amortization, wha

t is the total interest cost of the bonds?a. $636,000.
b. $632,400.
c. $628,800.
d. $639,600.
Business
1 answer:
Mashutka [201]2 years ago
6 0

Answer:

the journal entry to record bond issuance:

Dr Cash 1,444,000

Dr Discount on bonds payable 76,000

    Cr Bonds payable 1,520,000

amortization of discount on bonds payable = $76,000 / 5 = $15,000

coupon payment = $91,200

total interest expense per year = $106,200

total interest expense for the 5 year period = $106,200 x 5 years = <u>$531,000</u>

<u />

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3 years ago
Cochrane Associate's net sales last year were $525 million. If sales grow at 7.5% per year, how large (in millions) will they be
Serhud [2]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Cochrane Associate's net sales last year were $525 million. If sales grow at 7.5% per year, how large (in millions) will they be 8 years later?

We need to use the following formula:

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3 0
2 years ago
The following information was drawn from the accounting records of Ashton Company. Budgeted Actual Sales $ 5,000 $ 6,000 Cost of
zhuklara [117]

Answer: c. $100 favorable fixed operating cost variance

Explanation:

Cost Variance is a way of measuring the efficiency of a Company or segment in terms of how well they are managing resources and keeping with the budget.

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If the result is negative it is called UNFAVORABLE. If it is positive on the other hand it'll be labeled FAVORABLE.

Option C is correct because,

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5 0
3 years ago
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nirvana33 [79]

Answer: A

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