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Serjik [45]
2 years ago
13

The semiannual interest payment on a $10,000, 5% bond would be

Business
1 answer:
Nutka1998 [239]2 years ago
8 0
The semi annual interest payment on a $10,000 5% bond would be $250
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Ultimate Sportswear has $150,000 of 8% non-cumulative, non-participating, preferred stock outstanding. Ultimate Sportswear also
Natali [406]

Answer:

c. $12,000 preferred: $23,000 common

Explanation:

Calculation of how the Dividend should be distributed

First step is to calculate for preferred stock outstanding

Preferred stock outstanding=$150,000 * 8% non-cumulative

Preferred stock outstanding=$12,000

Second step is to calculate for common stock outstanding

Using this formula

Common stock outstanding = Cash Dividend-Preferred stock outstanding

Let plug in the formula

Common stock outstanding=$35,000-$12,000

Common stock outstanding=$23,000

Therefore Preferred stock outstanding will be $12,000 while Common stock outstanding will be $23,000

4 0
3 years ago
Havermill Co. establishes a $270 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei
stiv31 [10]

Answer:

Hi there!

C. Debit Miscellaneous Expense $270; credit Cash $270.

Explanation:

At the time of the reimbursement from the petty cash, the vouchers for the money used are presented and these must be charged to the different expenses incurred.

In October 1, the journal entry for the petty cash increase of $54 will be:

Debit Petty Cash $54; credit cash $54.

8 0
3 years ago
Freeman corp., a large corporation, plans to issue 45-day commercial paper with a par value of $3,000,000. freeman expects to se
fredd [130]

Answer:

The annualized cost of borrowing is 5.42%

Explanation:

The cost of borrowing is the finance charge which is the dollar amount of the loan that cost the person. Lenders usually charge what is referred to as the simple interest.

The formula to compute the same is as:

Principal  x rate x time = Interest

where

Principal amount is $3,000,000

Rate is not known

Time is 45 days, So time is number of days borrowed divided by number of days in a year

Time = 45 / 365 days

Time = 0.123

Interest = Par value - Selling Value

Interest = $3,000,000 - $2,980,000

Interest = $20,000

Putting the value above:

Rate = Interest / Principal  x Time

Rate = $20,000 / $3,000,000 x  0.123

Rate = $20,000 / $369,000

Rate = 5.42%

4 0
3 years ago
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