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ira [324]
3 years ago
10

Select the correct answer.

Business
1 answer:
almond37 [142]3 years ago
8 0

Answer:

answer is b

Explanation:

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On April 1, 2021, Austere Corporation issued $330,000 of 11% bonds at 106. Each $1,000 bond was sold with 30 detachable stock wa
blondinia [14]

Answer:

Austere Corporation

The amount of the proceeds from the bond that should be recorded as an increase in liabilities is:

= $320,100.

Explanation:

a) Data and Calculations:

The bonds issued = $330,000 at 106

Number of $1,000 bonds issued = 330 ($330,000/$1,000)

Market value of each warrant = $3

Proceeds from issue of bond = $330,000*106% = $349,800

Fair value of warrant issued = 330*30*$3 = $29,700

The bond issue liability = $349,800 - $29,700 = $320,100

7 0
3 years ago
Lerner Co. had 200000 shares of common stock, 20000 shares of convertible preferred stock, and $600000 of 10% convertible bonds
mestny [16]

Answer:

Basic EPS=$1.08                

Explanation:

Basic EPS= Net income after tax-preferred shares' dividend/Weighted average of outstanding shares

Net income after tax=$360,000*.7=$252,000

Dividend to preference shareholders=20,000*1.8=$36,000

Weighted average shares outstanding=200,000

Basic EPS=($252,000-$36,000)/200,000

Basic EPS=$1.08

7 0
3 years ago
Read 2 more answers
Gabriele Enterprises has bonds on the market making annual payments, with eight years to maturity, a par value of $1,000, and se
Elena-2011 [213]

please find the attached for an explanation

Download docx
4 0
3 years ago
The following transactions occurred during July: Received $1,050 cash for services provided to a customer during July. Received
Anastasy [175]

Answer:

$1,575

Explanation:

We will clasify the item "revenue" or "not":

  1. Received $1,050 cash for services provided to a customer during July -> yes, this is revenue
  2. Received $5,000 cash investment from Bob Johnson :  not revenue
  3. the owner of the business Received $900 from a customer in partial payment of his account receivable which arose from sales in June: not revenue for July, but June which was booked in June revenue already
  4. Provided services to a customer on credit, $525: yes, this is July revenue though it's still on account receivable
  5. Borrowed $7,500 from the bank by signing a promissory note: not revenue
  6. Received $1,400 cash from a customer for services to be rendered next year: not July revenue, it's customer advace and might be next year revenue once services are completed

So the amount of revenue for July = Received $1,050 cash for services provided to a customer during July + Provided services to a customer on credit, $525

= $1,050 +$525

=  $1,575

4 0
3 years ago
Cortez Company is planning to introduce a new product that will sell for $108 a unit. The following manufacturing cost estimates
Svet_ta [14]

Question: What percentage of the variation in overhead costs is explained by the independent variable

Answer: 82.8%

Explanation:

R^{2} = 0.848 (84.8%), the explanation of variation in Y from the X regress

Question: What is the total overhead cost for an estimated activity level of 60,000 direct labor-hours

Answer: $410,000

Explanation:

The equation resulting from this regression analysis is:

Total overhead = Estimated fixed cost + Estimated variable cost per labor hour x Labor hours

= Intercept estimate + Coefficient estimate on independent variable x 60,000 DLH

= 110000 + 5 x 60000 DLH

= 110000 + 300000

= 410000

5 0
3 years ago
Read 2 more answers
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