Helpppppppppppppppppp will give brainliest.

On December 31, 2019, Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. Wintergreen received $

Elina [12.6K]

Answer:

June 30, 2020 Bond Interest expense Debit $5,756.25

Discount on Bonds payable Credit $506.25

Cash Credit $5,250

Explanation:

We have to calculate the interest expense. The bond interest expense = Cash payment + bond amortization discount

Given,

Bond price = $150,000

Interest = 7%

Number of period, n = 10 years × 2 (As it is a semiannual bond) = 20

Cash payment for semiannual interest = $150,000 × 0.07 × (1÷2)

Cash payment for semiannual interest = $5,250 (Credit)

Amortized bond discount (discount on bonds payable) = $10,125 ÷ 20 (as it is a semiannual payment and $10,125 is for 10 years)

Discount on bonds payable = $506.25 (Credit)

Therefore, bond interest expense = $5,250 + $506.25 = $5,756.25 (Debit)

6 0

3 years ago

For the just completed year, Hanna Company had net income of $101,500. Balances in the company's current asset and current liabi

Licemer1 [7]

Answer:

Hanna Company's Net cash flow from operating activities is $35,000

Explanation:

Net Income for the year $101,500

Adjustment of Non Cash Expenses:

Depreciation $54,000

Decrease in Prepaid Expenses $1,500

Decrease in Accrued Liabilities $(3,000)

Increase in Tax Payable $9,000

Operating profit before working capital changes $163,000

Working Capital Changes:

Increase in Inventory $(102,000)

Decrease in Accounts Receivables $18,000

Decrease in Accounts Payable $(44,000)

Net cash from operating activities $35,000

Please note that figures in brackets represent Cash Outflows (negative values)

5 0

3 years ago

Employed by an inner-city development council, Beth Maxwell works with a steering committee to guide members in identifying prio

Brrunno [24]

Answer:

Facilitator role

Explanation:

A facilitator is an individual who is in charge in helping a group of people to understand their various objectives and also to help to plan to achieve them without taking a specific stand in the discussion.

A facilitator makes sure that outcomes, actions and questions are properly taken down and actioned, and effectively handled afterwards.

A facilitator employs various skills, tools, exercises and natural abilities to keep a group discussion moving in the right direction.

7 0

3 years ago

A T-bill has a discount Ask quote of 4.80 with 150 days to maturity and sells for $9800. The bill has a face value of $10,000. W

likoan [24]

Answer: 4.97%

Explanation:

Yield = (Face value / Purchase price - 1) * 365 days / Days to maturity

= (10,000 / 9,800 - 1) * 365 / 150

= 0.0204081632653 * 365/150

= 4.97%

6 0

3 years ago

Molly decided to try and save money on her textbooks this semester. Instead of buying new books at the campus bookstore, Molly d

Rus_ich [418]

Answer:

Does Jack have a negotiable instrument and can he collect from Molly? Why or why not?

Jack does not have a valid negotiable instrument and cannot collect from Molly because the book was not "correct" since it was no longer used in the business law class. Molly should return incorrect book to Pat though. In this contract, neither party performed.

How about Richard?

Tim's oral agreement with Molly is valid since the amount is only $40 and Tim can assign it to Richard, but the assignment must be written. Without a written assignment of the debt, Richard cannot collect any money.

And Sam?

Sam does have written agreement that can be legally enforceable. Although the costs and time of enforcing the contract are probably higher than the DVD (consideration).

7 0

4 years ago