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3 years ago

If the market interest rate is greater than the contractual interest rate, bonds will sell

Business

1 answer:

zzz [600]3 years ago

4 0

Answer:

When the market rate of interest on bonds is higher than the contract rate, the bonds will sell at a discount.

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The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance a

Natali5045456 [20]

Answer:

Adjusted Balance 31,671

Explanation:

CASH

Balance 25,497

Service Charge -11

Collection in firm behalf 7,000

NSF -805

accounting mistake -10

Adjusted Balance 31,671

BANK

Balance 26,808

Outstanding Check -3,269

Deposit in transit 8,132

Adjusted Balance 31,671

The goal of the reconciliation is to make up for the unknow information for each party. The bank and the firm We are goin to make jounral entries for all the infoamrition which is unknow to the firm until the bank statement is received.

8 0

3 years ago

Esquire Comic Book Company had income before tax of $1,000,000 in 2016 before considering the following material items:

Ganezh [65]

Answer:

Esquire Comic Book Company

Income Statement

For the Year Ended December 31, 2016

Operating income $1,000,000

Restructuring costs ($80,000)

Income from continuing operations b/ Taxes $920,000

Income tax expense ($368,000)

Income from continuing operations $552,000

Discontinued operations:

Operating income $500,000
Loss on disposal ($350,000)
Income tax on discontinued operations ($60,000)

Income from discontinued operations $90,000

Net income $642,000

Explanation:

Income from discontinued operations must be reported separately, but any restructuring costs must be included as operational expenses.

8 0

3 years ago

A sporting goods manufacturer budgets production of 48,000 pairs of ski boots in the first quarter and 39,000 pairs in the secon

professor190 [17]

Answer:

$831,600

Explanation:

The budget must account for all of the production of the first quarter and 20% of the production of the second quarter, the number of boots considered in the budget is:

$b= 48,000 +0.20*39,000\\b=55,800\ boots$

Assuming that each boot uses exactly 2kg of raw material and that the company has 19,200 kg on hand, the amount of raw material still required is:

$m = 2*55,800-19,200\\m=92,400\ kg$