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saw5 [17]
4 years ago
12

Blossom Electric sold $3,800,000, 8%, 10-year bonds on January 1, 2020. The bonds were dated January 1 and pay interest annually

on January 1. Blossom Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. Prepare the journal entry to record the issuance of the bonds on January 1, 2020.
Business
1 answer:
katovenus [111]4 years ago
8 0

Answer:

Dr cash $3 914 000 Cr bond premium $114 000 cr Bonds payable $3800000

Explanation:

Bond sold at a premium

$3800000(103%)=$3 914 000

Bond premium =Bond sold at Premium-Par value bonds

                          $3 914 000-$3 800 00=$114 000

then the par value bond =$3800000

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Suppose you have a $15 gift certificate usable in three different restaurants in which you can eat lunch. Your only goal is to e
s344n2d4d5 [400]

Answer:

A technological choice

Explanation:

Here, what you care about is taking the dollar home in form of cash not necessarily the free lunch in the restaurants. This is an example of technological choice.

5 0
3 years ago
If the variable overhead efficiency variance is $500 unfavorable and the variable overhead spending variance is $100 favorable,
Vera_Pavlovna [14]

Answer:

a. Debit to variable overhead efficiency variance

d. Credit to variable overhead spending varian

Explanation:

Based on the information given in a situation where a variable overhead efficiency variance is UNFAVORABLE it will be DEBITED and variable overhead spending variance that is FAVOURABLE will be CREDITED.

Therefore the journal entry will include a:

a. Debit to variable overhead efficiency variance

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7 0
3 years ago
Donna has a home currently worth $142,000, for which she still owes $63,000 on her mortgage. She has $18,000 in student loan deb
Elan Coil [88]

Answer:

$49,000

Explanation:

Donna's net worth is the total value of her assets minus the total value of her liabilities.

Donna's total assets = $142,000 + $1,000 = $143,000

Donna's total liabilities = $63,000 + $18,000 + $13,000 = $94,000

Donna's net worth = $143,000 - $94,000 = $49,000

8 0
3 years ago
The three "R's" of socially responsible business are "reuse," " recycle," and "____."
vagabundo [1.1K]

Answer:

Reduce

Explanation:

Reduce

Reuse

Recycle!

6 0
3 years ago
Read 2 more answers
Selected data from the Florida Fruit Company are presented below: Total assets $1,500,000 Average total assets 1,850,000 Net inc
Mkey [24]

Answer:

13.5%

Explanation:

Relevant data provided for computing the profit margin which is here below:-

Net Income = $175,000

Net Sales = $1,300,000

The computation of profit margin is shown below:-

Profit Margin = (Net Income ÷ Net Sales) × 100

= ($175,000 ÷ $1,300,000) × 100

= 13.5%

Therefore for computing the profit margin we simply applied the above formula.

5 0
3 years ago
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