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densk [106]
3 years ago
9

Madrid Company plans to issue 8% bonds with a par value of $4,000,000. The company sells $3,600,000 of the bonds at par on Janua

ry 1. The remaining $400,000 sells at par on July 1. The bonds pay interest semiannually on June 30 and December 31. 1. Record the entry for the first interest payment on June 30. 2. Record the entry for the July 1 cash sale of bonds.
Business
1 answer:
sesenic [268]3 years ago
4 0

Answer:

The first interest payment:

Dr interest  expense   $144,000

Cr cash                                         $144,000

The issuance of the remaining bonds"

Dr cash           $400,000

Cr bonds payable            $400,000

Explanation:

The first  interest paid on the bonds on 30 June is $144,000 ($3,600,000*8%*6/12) which is debited to interest expense account and credited to cash account as outflow of cash from the company.

The cash received from selling the remaining bonds is par value of $400,000 which is debited to cash account and credited to bonds payable account.

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Sales $ 2,000,000 100 % $ 500,000 100 % $ 2,500,000 100 % Variable expenses 800,000 40 % 250,000 50 % 1,050,000 42 % Contributio
Sonja [21]

Answer:

$1.5 million

Explanation:

The computation of break even sales in dollars is shown below:

= (Fixed expenses) ÷ (profit volume ratio)

where,  

Contribution margin  = Sales  - Variable expense

= $2,500,000 - 1,050,000

= $1,450,000

And, Profit volume ratio = (Contribution) ÷ (sales) × 100

So, the Profit volume ratio = ($1,450,000) ÷ ( $2,500,000) × 100 = 58%

And, the fixed expenses is $870,000  

Now put these values to the above formula  

So, the value would equal to  

= ($870,000) ÷ (58%)  

= $1.5 million

3 0
3 years ago
The strength of the economy of singapore is based largely on its lack of corruption and generous government support for new busi
QveST [7]

Singapore really has only two neighbors:

  • Malaysia and
  • Indonesia.

It is politically correct to state that Malaysia and Singapore have a love-hate relationship. Malaysia's political leadership look down on Singapore.

<h3>How can Singapore be described?</h3>

Singapore, as a multicultural, multiethnic, multireligious secular meritocracy, is an insult to their Bumiputera policy's falsehood of Malay-based apartheid.

Malays and other races such as Ibans, Dayaks, Eurasians, and Kadazan are considered native races of Malaysia.

Despite having lived there for centuries, a Chinese or Indian is considered a "pendatang," or an immigrant, and is discriminated against.

It is to be noted that Singapore was compelled to leave Malaysia due to disputes, socioeconomic factors, and the inability of Lee Kuan Yew and Tunku Abdul Rahman to reach an agreement.

That kind of issue persists after half a century. Malay nationalist hardliners anticipated Singapore to fail without a hinterland and return to Malaysia, where they would accept their demands. That did not work out as planned.

Learn more about Singapore:
brainly.com/question/1075558
#SPJ1

8 0
2 years ago
Apple's selling iphones to customers in africa, asia, and europe is an example of the globalization of ________.
shtirl [24]

The answer is market globalization. It is a term uniting the advertising and selling of services and goods with a progressively codependent and united global economy. It is marketing on a universal scale integrating or taking commercial advantage of global operative differences, resemblances and chances in order to meet global aims.

5 0
3 years ago
On January 1, 2019, Oriole Company purchased the following two machines for use in its production process.
Zarrin [17]

Answer and Explanation:

The journal entries are shown below:

1  Equipment   $53,420

     To Cash  $53,420

(Being the equipment is purchased for cash is recorded)

The computation is given below:

= Cash price of machine + sales tax + shipping cost + insurance during shipping + installation and testing cost

= $49,500 + $3,650 + $100 + $60 + $110

=  $53,420

2. Depreciation expense $9,614

      To Accumulated Depreciation - Equipment  $9,614

(Being the depreciation expense is recorded)

The computation is shown below:

= ($53,420 - $5,350) ÷ ( 5 years)

= $9,614

5 0
3 years ago
The ________ is an incomplete picture because a single number cannot fully reflect the sources of the underlying differences in
Sveta_85 [38]

Answer:

Income inequality ratio

Explanation:

The income inequality ratio is an incomplete picture because a single number cannot fully reflect the sources of the underlying differences in income.

Income inequality refers to the uneven distribution of income among the population of a particular place. It is the difference in the allocation of income in a particular country.

Income inequality occurs across different segments of the population such as gender(male and female), ethnic group, occupation, geographical location etc.

The Gini index is widely used to compare disparities in income.

6 0
3 years ago
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