Answer:
January 1, 2018
Dr. Cash $70,000
Cr. Bond Payable $70,000
June 30, 2018
Dr. Interest Expense $2,450
Cr. Cash $2,450
Explanation:
If the market rate is equal to the coupon rate of a bond, the bond will be issued at par. Bond is recognised as a liability and recorded in the account of Bond Payable.
Interest is paid on the face value and stated rate of the bond.
Interest Payment = Face value x Coupon rate x 6/12 = $70,000 x 7% x 6/12 = $2,450.
Answer:
D) inventory
Explanation:
Inventory: Inventory is the stock of the company. It passed through various cycles i.e. raw material, work in progress, finished goods. When the cycle is finished then the product is ready to sell in the market.
Moreover, the recording of the stock is done based on the cost or market value whichever is lower.
In the given question, operation management uses the storage facility. So, the storage facility is used to store the inventory. Here, the storage facility means the warehouse in which the company products are kept for safety measurement.
Thus, all other options are incorrect except D option
True, i think this is more of an opinion type question
1 acre = 43,560 square feet.
Multiply square feet by cost per square feet
43,560 x 0.50 = $21,780
Total cost: $21,780
Answer:
MYRIAD PRODUCTS COMPANY
Cash flow from Operating Activities
($ in millions)
Net Income $ 113
<u>Adjustment of non-cash items :</u>
Depreciation expense $72
Patent amortization expense $5
Loss on sale of land $3
<u>Adjustment to Changes in Working Capital :</u>
Decrease in Accounts receivable $14
Decrease in Inventory $12
Increase in Accounts payable $8
Decrease in Salaries payable ($8)
Increase in Interest payable $7
Increase in Income taxes payable $7
Net Cash Provided by Operating Activities $219
Explanation:
The Indirect method reconciles the Net Income and Operating Cash flow by adjusting for<em> non- cash items</em> and <em>changes in working capital</em> during the year.