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Maurinko [17]
2 years ago
13

Ly Company disposed of two different assets.

Business
1 answer:
DaniilM [7]2 years ago
6 0
The answer is c that’s the answer
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Straight-Line: Amortization of bond discount LO P2 Skip to question [The following information applies to the questions displaye
natima [27]

Answer:

Legacy

1. Journal Entry:

January 1:

Debit Cash $570,443

Debit Bonds Discount $69,557

Credit Bonds Payable $640,000

To record the issuance of the bonds at a discount.

2. Total bond interest expense to be recognized over the bonds' life:

= $287,160

Explanation:

a) Data and Calculations:

January 1, 2019

Face value of bonds issued = $640,000

Price of bonds =                       $570,443

Bonds discount =                      $69,557 ($640,000 - $570,443)

Coupon interest rate = 8.5%

Market interest rate = 12%

Maturity period = 4 years

Interest payment = semiannual on June 30 and December 31

With straight-line amortization of bonds discount, the semiannual amortization will be = $8,695

Semi-annual interest payment = $27,200 ($640,000 * 4.25%)

Semi-annual interest expense = $35,895 ($27,200 + $8,695)

Annual interest expense = $71,790

1. Transaction Analysis

January 1:

Cash $570,443 Bonds Discount $69,557 Bonds Payable $640,000

2. Total bond interest expense to be recognized over the bonds' life:

= $287,160 ($71,790 * 4) or ($35,895 * 8)

6 0
2 years ago
What is one reason why a business may incorporate a dress code?
LenaWriter [7]

Answer:

d

Explanation:

D.because it wants to promote unity among employees

3 0
1 year ago
What is the price​ level? The price level is​ ______. A. the average level of prices paid by urban consumers for all goods exclu
8_murik_8 [283]

Answer:

Price Level is B. The average level of prices

Explanation:

Price level is the average of current prices across the entire spectrum of goods and services produced in the economy.

Price level refers to the price or cost of a good, service, or security in the economy.

Reference: Kenton, Will. “Reading Into Price Levels.” Investopedia, Investopedia, 27 Sept. 2019

7 0
2 years ago
How does an expansionan expansion in the central​ bank's domestic assets ultimately affect its balance sheet under a fixed excha
vladimir1956 [14]

Answer:

Option D          

Explanation:

In simple words, A determined currency rate, also called a fixed currency value, refers to the form of exchange rate regimes during which a currency agency sets or pegs the value of the currency against both the value of yet another currencies, a combination of other currencies, or another value factor, like gold.

Thus, in order to keep the currency at a fixed level the monetary authority must increase their liability also but on a domestic level only as two accounts are considered to be separate in such systems.

5 0
3 years ago
Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available for Kaspar Corporation's ant
Leto [7]

Answer:

Total cost per unit is $77

Explanation:

Fixed manufacturing overhead per unit = Total fixed manufacturing overhead ÷ Number of units

= $478,800 ÷ 34,200 = $14 per unit

Fixed selling and administrative expenses per unit = Total Fixed selling and administrative expenses ÷ Number of units

= $171,000 ÷ 34,200 = $5 per unit.

Total cost per unit = Direct material + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead + Variable selling expenses + Fixed selling expenses

Total cost per unit = $15 + $5 + $11 + $14 + $5 + $5 = $55 per unit.

Markup = 40% of total cost = $55 × 40% = $22

Therefore, total selling price per unit = Cost per unit + Markup

= $55 + $22 = $77 per unit.

7 0
3 years ago
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