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faust18 [17]
3 years ago
8

If a company uses a keystone price of $40, how much was the cost of the item to the company?

Business
1 answer:
Ipatiy [6.2K]3 years ago
6 0

Answer:

Explanation:

20 <3

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Pretzelmania, Inc., issues 7%, 10-year bonds with a face amount of $70,000 for $70,000 on January 1, 2018. The market interest r
Travka [436]

Answer:

January 1, 2018

Dr. Cash                $70,000

Cr. Bond Payable $70,000

June 30, 2018

Dr. Interest Expense $2,450

Cr.  Cash                    $2,450

Explanation:

If the market rate is equal to the coupon rate of a bond, the bond will be issued at par. Bond is recognised as a liability and recorded in the account of Bond Payable.

Interest is paid on the face value and stated rate of the bond.

Interest Payment = Face value x Coupon rate x 6/12 = $70,000 x 7% x 6/12 = $2,450.

4 0
4 years ago
Niles believes that the reports are true and does not intend to deceive Prime Business, but does not check the reports before ce
Archy [21]

The complete question is:

Niles, an accountant, certifies several audit reports on Optimal Operational Processes, Inc., Nile's client, knowing that the company intends to use the reports to borrow money from Prime Business Lending Company to buy new equipment. Niles believes that the reports are true and does not intend to deceive Prime Business, but does not check the reports before certifying them. Can Niles be held liable to Prime Business?

Answer:

Yes can be held liable

Explanation:

An accountant that certifies audits of a company is expected.to do his due diligence. In this scenario Niles believed that the reports are true without checking them.

This is an act of negligence on Nile's part and he can be held liable for damages resulting from the oversight.

The certified audit report is not only being used by Prime business but other third parties like investors and other stakeholders. Any of these can hold Mike's liable for any misleading information in the audit reports

6 0
3 years ago
Four ways in which the kruger national park combats rhino poaching
alina1380 [7]
As I remember it correctly four strategies <span>in which the kruger national park combats rhino poaching sound like that:
*Restricted trade in rhino horn;
*Unrestricted trade in rhino horn;
*Status Quo;
*Demand reduction.</span>
5 0
3 years ago
Rosewood Company made a loan of $8,600 to one of the company's employees on April 1, Year 1. The one-year note carried a 6% rate
tatuchka [14]

Answer:

Year 1 = $387

Year 2 = $516

Explanation:

Loan has been granted on 1 April in Year 1 i.e. for a period from 1 April to 31 December = 9 months.

Interest for year 1 @6% = $8,600 X \frac{6}{100} X\frac{9}{12}

= $387

Interest for year 2 will be from 1 January to 31 December =

$8,600 X \frac{6}{100} X \frac{12}{12} = $516

Therefore interest revenue to be reported by Rosewood Company will be as follows

Year 1 = $387

Year 2 = $516

6 0
4 years ago
Puvo, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct l
Harman [31]

Answer:

$7,140 unfavorable

Explanation:

The computation of the  materials quantity variance for March  is shown below;

We know that

Material Quantity Variance = Standard rate × ( Standard Quantity for actual production - Actual Quantity Used)  

=$5.25 × ([4,800 units × 1.5 pounds per unit] - (10,700 - 2,140)    

=$5.25 ×  (7,200 pounds - 8,560 pounds)      

= $7,140 unfavorable

3 0
3 years ago
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