Answer:
E) $12,000
Explanation:
the bonds were issued at a discount for $93,000
the face value $100,0000
coupon rate 12%
even though the bonds were sold at a discount because the coupon rate was lower than the market rate, the amount of cash paid as interest is based on the face value = $100,0000 x 12% = $12,000
the journal entry to record the sale of the bonds would be:
Dr Cash 93,000
Dr Discount on bonds payable 7,000
Cr Bonds payable 100,000
whatever method the company uses to record interest, the amount of cash paid will always be the same
Answer:
Explanation:
Psychology is the science of behavior and mind. Psychology includes the study of conscious and unconscious phenomena, as well as feeling and thought. It is an academic discipline of immense scope.
Answer:
petty cash fund 440 debit
cash 440 credit
--stablishment of the fund--
freight-in 46 debit
postage expenses 78 debit
miscellaneous expenses 111 debit
cash shortage loss 12 debit
Cash 247 credit
--reimbursement of the fund--
petty cash fund 50 debit
Cash 50 credit
--incerase of the fund to 490--
Explanation:
The petty fund will be stablish using cash, so we decrease cash and create the petty fund.
Then, the expenditures will be against cash, so we don't have to use the petty fund account.
Lastly, to increase the fund we take from the cash account the 50 dollars increase.
Some organizations have the project sponsor complete project completion/ Client acceptance form to close a project or phase.
The Client Acceptance form means add up of the delivered solution, it confirms what deliverables has been yielded to the client and that the client has accepted those deliverables.
A project acceptance form is a document that, when implemented, means formal, written approval of the complete project. It accepts that all project requirements have been achieved and that all deliverables are completed.
An Acceptance Form assists to gain approval from the customer that the production done is according to the needs of the customer. An Acceptance Form includes all of the Acceptance Criteria for attaining the approval of the customer.
To learn more about project completion/ Client acceptance form here
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Answer:
$27,000
Explanation:
The following costs were incurred by Smith's company during the month of March
Direct labor $53,000
Indirect labor 18,000
Salary of corporate vice president for advertising 25,000
Direct materials 48,000
Indirect materials 4,000
Interest expense 7,500
Salary of factory supervisor 3,000 Insurance on manufacturing equipment 2,000
Therefore the actual manufacturing overhead for March can be calculated as follows
= Indirect labour + indirect materials + salary of factory supervisor + insurance on manufacturing equipments
= $18,000 + $4,000 + $3,000 + $2,000
= $27,000
Hence the actual manufacturing overhead for March is $27,000
