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3 years ago

Hickenlooper Company retired a $900,000, 7% bond issue at 98. If the unamortized discount is $7,200, the entry will include a:

Business

1 answer:

liberstina [14]3 years ago

3 0

Answer:

d.Credit to gain on bond retirement for $10,800

Explanation:

Based on the information given we were told that the Company retired the amount of $900,000 which includes 7% bond issue at 98 which means that If the unamortized discount is $7,200, the journal entry will include a:Credit to gain on bond retirement for $10,800 calculated as

Dr bond payable $900,000

Cr Gain on retirement $10,800

[($900,000-$882,000)-($7,200)]

Cr Discount on Bond $7,200

Cr Cash $882,000

(98%*9/$900,000)

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In the development stage, GoPro engineers and designers use a 3-D printer to turn an idea into a product ________ to check the d

oksian1 [2.3K]

Answer:

Prototype

Explanation:

-Commercialization refers to introducing a product to the market.

-Concept refers to a product idea.

-Test refers to analyzing the performance of a product.

-Standard refers to the level of quality of a product.

-Protocol is a document that helps all the departments involve in the development of the product to coordinate the job.

-Prototype is an initial model of a product that is created to evaluate a concept.

According to this, the answer is that in the development stage, GoPro engineers and designers use a 3-D printer to turn an idea into a product prototype.

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3 years ago

Smith Distributors, Inc., supplies ice cream shops with various toppings for making sundaes. On November 17, 2021, a fire result

jeka94

Answer:

Estimated cost of Fruit Toppings lost in the fire = $14,000

Estimated cost of Marshmallow Toppings lost in the fire = $5,300

Estimated cost of Chocolate Toppings lost in the fire = $1,260

Explanation:

Fruit Marshmallow Chocolate

Toppings Toppings Toppings

Inventory, January 1, 2013 [a] 22,000 7,200 3,200

Net purchases through Nov. 17 [b] 160,000 38,000 12,200

Net sales through Nov. 17 [c] 210,000 57,000 20,200

Historical gross profit ratio [d] 20 30 30

Gross Profit [c*d%] [e] 42000 17,100 6,060

Cost of Good Sold [c-e] [f] 168,000 39,900 14,140

Inventory, Nov 17, 2013 [a+b-f] [g] 14,000 5,300 1,260

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3 years ago

Use units-of-activity depreciation to calculate the annual depreciation for equipment that cost 20,000 with a residual value 5,0

dsp73

Answer: $6,000

Explanation:

Depreciation rate = (Cost - Residual value) / Expected useful life run

= (20,000 - 5,000) / 15,000

= $1 per hour

Machine ran for 6,000 hours so depreciation is;

= 6,000 * 1

= $6,000

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3 years ago

Sessler Manufacturers made two announcements concerning its common stock today. First, the company announced that the next annua

victus00 [196]

Answer:

The maximum amount that should be paid today is $11.29

Explanation:

The constant growth model of the DDM approach can be used to calculate the price or fair value per share today based on the expected dividends that the stock will pay. As the dividends are declining n this case, the dividend growth will be negative i.e. -1.5%

The formula for the price of share today is,

P0 or V = D1 / r - g

Thus,

P0 = 1.75 / (0.14 + 0.015)

P0 = $11.29

3 0

4 years ago

Read 2 more answers

One result of asymmetric information about people's ability to repay a loan is that: a bank could make many loans to people who

kifflom [539]

Answer:

Option (a) is correct.

Explanation:

Asymmetric information refers to the situation in which one of two parties involved in the transaction having more information than the other party.

It is evident that an asymmetric information is associated with all types of economic transaction. It is mostly associated with the insurance industry and banking industry.

In our case, banks have less information about the borrower's loan repaying capability and could make many loans to the people who will be the defaulters.

There are two problems arises from the asymmetric information:

(i) Moral hazard

(ii) Adverse selection

4 0

4 years ago