Typically, most network television advertising time is sold as

A $300,000 bond was redeemed at 98 when the carrying value of the bond was $292,000. the entry to record the redemption would in

Kobotan [32]

Answer:

correct option is a. loss on bond redemption of $2,000

Explanation:

given data

bond = $300,000

redeemed at = 98

carrying value of bond = $292,000

to find out

entry to record the redemption would include

solution

we know here that Redemption value is

Redemption value = bond × redeemed

Redemption value = $300,000 ×98%

Redemption value =$294,000 ................1

and here Carrying value is $292,000

so we paid excess amount that is

paid excess amount = $294,000 - $292,000

paid excess amount = $2000

so here correct option is a. loss on bond redemption of $2,000

6 0

3 years ago

L. Bowers and V. Lipscomb are partners in Elegant Event Consultants. Bowers and Lipscomb share income equally. M. Ortiz will be

Mama L [17]

Answer: See attachment and explanation

Explanation:

1. Ortiz purchased a 20% interest for $20,000.

Total capital after the admission of the partner will be:

= ($96000 - $4000) + ($40000 - $4000) + $20000

= $92000 + $36000 + $20000

= $148000

The share of new partner in the capital structure will be:

= Total capital × Interest of new partner

= $148000 × 20%

= $29600

There'll be a deficiency in the profit which the existing partner contributes to and this will be:

= $29600 - $20000

= $9600

Then each partner shares =$9600/2 = $4800

2. Ortiz purchased a 30% interest for $60,000.

Total capital after the admission of the partner will be:

= ($96000 - $4000) + ($40000 - $4000) + $60000

= $92000 + $36000 + $60000

= $188000

The share of new partner in the capital structure will be:

= Total capital × Interest of new partner

= $188000 × 30%

= $56400

Since the share is less than the amount of $60000 bought in, the existing partner will be compensated in the amount of ($60000 - $56400) = $3600. Therefore each partner gets $3600/2 = $1800

Check attachment for the journal entries.

5 0

3 years ago

After receiving the seller’s transfer disclosure statement, buyer clark rivers is not satisfied that all has been revealed. he’s

Neporo4naja [7]

Answer:

Both b. and c.

That is

b. i’m sorry, but the transfer disclosure statement covers all material facts that must be disclosed, and a person having aids is not a material fact, whether or not it would be applicable in this situation.

c. i’m sorry, but i am not permitted to answer this question, as it could be a potential civil rights violation, under the federal and state fair housing laws.

Explanation:

In the given instance the buyer if the property is asking if the previous tenant had AIDS and wants to use this information in the purchasing process. This is illegal and could result in legal action due to civil rights violation. Discrimination is not allowed in deciding to do business with another party, and the buyer is trying to discriminate on the grounds that the previous owner had AIDS.

Also in disclosing relevant information, wether the previous owner had AIDS is irrelevant to the sale of the house as it does not affect the quality of the house.

3 0

3 years ago

applied vs. actual manufacturing overhead davis manufacturing corporation applies manufacturing overhead on the basis of 150% of

Mashcka [7]

Answer:

Subapplication of 22,500

journal entry:

WIP 4,500 debit

finished goods 2,250 debit

COGS 15,750 debit

factory overhead 22,500 credit

Explanation:

Direct Labor cost during the year:

60,000 + 30,000 + 210,000 = 300,000 direct labor

Applied overhead:

cost driver x predetermined rate

300,000 x 150% = 450,000

Actual overhead: 472,500

Subapplication of 22,500

as this is a significant amount we must adjust the WIP inventory, cost of goods sold and fnished goods inventory

to know the adjustment on each account we calcualte each account percentage:

300,000 --> 22,500

60,000 --> 60,000/300,000 x 22,500 = 4,500 endingWIP

30,000 --> 30,000/300,000 x 22,500 = 2,250 finished goods

210,000--> 210,000/300,000 x 22,500 = 15,750 COGS

we do the adjuting entry to increase overhead and transfer into each concept

8 0

4 years ago

Which one of the following statements best defines the efficient market hypothesis? A. Efficient markets limit competition. B. S

lubasha [3.4K]

Answer:

The correct answer is letter "D": All securities in an efficient market are zero net present value investments.

Explanation:

The Efficient Market Hypothesis (EMH) states that neither public or insider information cannot help in an attempt to beat the market because stocks already show all available information possible. Thus, neither using technical or fundamental analysis could be useful to predict future stock price movement.

In other words, in a market under EMH all stocks are zero Net Present Value (present value inflows minus present value outflows) investment vehicles.

5 0

3 years ago