Brief Exercise 259 Mintz Company issued $400,000, 10%, 10-year bonds on January 1, 2017, at 105. Interest is paid annually on December 31. Mintz uses the straight-line method of amortization and has a calendar year end. Prepare all journal entries made in 2017 related to the bond issue.
Answers
Answer:
Dr cash $420,000
Cr bonds payable $400,000
Cr premium on bonds payable $20,000
Dr interest expense($40000-$2,000) $38,000
Dr premium on bonds payable $2,000
Cr cash $40,000
Explanation:
The bond price is the pv of all cash inflows promised by the bond which includes annual coupon and repayment of face value at redemption:
bond price=face value *105%
bond price=$400,000*105%=$420000
The cash proceeds from the issue would be debited to cash while bonds payable is credited with $400,000 and premium on bonds payable is credited with $20,000.
amortization of premium=$20,000/10=$2,000
interest payment=10%*$400,000=$40,000
Related Questions
1. You are offered Birr 1,000 today, Birr 10,000 in 12 years, or Birr 25,000 in 25 years. Assuming that you can earn 11 percent on your money, which offer should you choose?
Answers
Based on the options given of different cashflows, the offer you should accept is Birr 10,000 in 12 year.
Which offer should you accept?Find the present values of each offer:
Offer 1:
= Birr 1,000
Offer 2:
= 10,000 / 1.11¹²
= Birr 2,858.41
Offer 3:
= 25,000 / 1.11²⁵
= Birr 1,840.20
The offer with the highest present value is the second offer of Birr 10,000 in 12 years.
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Barton Corporation acquires a coal mine at a cost of $1,800,000. Intangible development costs total $360,000. After extraction has occurred, Barton must restore the property (estimated fair value of the obligation is $180,000). Barton estimates that 6,000 tons of coal can be extracted. What is the amount of depletion per ton
Answers
Answer: $390 per ton
Explanation:
The depletion per ton is:
= Total cost of acquiring the coal mine / Number of tons that can be extracted
= (Acquisition cost + intangible development cost + Fair value of restoration) / Number of tons that can be extracted
= (1,800,000 + 360,000 + 180,000) / 6,000
= $390 per ton
describe the hypothesis testing process for population for dependent samples?
Answers
Hypothesis testing is a form of statistical inference that uses data from a sample to draw conclusions about a population parameter or a population probability distribution.
What are population parameter?In statistics, a parameter is any measured quantity of a statistical population that summarises or describes an aspect of the population, such as a mean or a standard deviation.
Therefore, the correct answer is as given above
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Why can internet banks offer better interest rates and lower fees than tradition banks?
A.They value their customers more.
B.They have fewer expenses.
C.They make money in different ways.
Answers
an example of a disincentive?
Answers
Answer:
Failing to have the incentive you once had; to take the incentive, the stimulus, the spirit from something, from someone or from oneself; discourage, discourage:
"Excessive taxes disincentive trade."
"In the face of so many problems, he became disincentived."
Hope I helped you, good studies!
what happens to the price of a good or service when a shortage of that good or service occurs?
Answers
Answer:
If shortage of goods and services occurs, obviously, the price will touch the sky, i. e. the price will increase twice or thrice the Real price...
how you been issued or are currently eligible for a form 1-551 permeanent resident card, also known as a green card by the u.s. citizenship and immigration services uscis?
Answers
The official name of your permanent residence card is Form I-551 (aka green card). Find out more about it and typical inquiries.
What does the green card I551 card number on the permanent residency card mean?Your green card number is a 13-digit number that is printed on a permanent residence card and is also referred to as the receipt number. It also goes by the name "case number" because it identifies your particular immigration case. It may even be referred to as an I-551 receipt number in some circumstances.
What document, such as a PRC or I-551, serves as proof of your immigration status?A green card is applied for using Form I-551. It serves as evidence of a foreign national's eligibility for permanent residence and employment in the United States. If you If you look closely, the current green card's backside has "I-551" printed in the upper left corner.
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buyer needs $27,000 retail worth of backpacks for the BTS season. Buyer already purchased 360 backpacks at a cost of $11.50 each which will retail at $26 each. What markup percent must be obtained on the balance of purchases in order to average a 64.3% markup?
Answers
The markup percent that must be obtained on the balance of the purchases in order to average a 64.3 markup is a percentage of 42.14%.
What is Mark-Up PriceTo find the markup percent that must be obtained on the balance of the purchases, we first need to calculate the total cost of the 360 backpacks that have already been purchased.
360 backpacks * $11.50 per backpack = $4,140
Next, we need to calculate the total retail value of the backpacks that have already been purchased.
360 backpacks * $26 per backpack = $9,360
To find the markup percent, we need to divide the difference between the retail price and the cost by the cost, and then multiply by 100 to convert to a percentage.
[($9,360 - $4,140) / $4,140] * 100 = 126.1%
So the markup percent on the backpacks that have already been purchased is 126.1%.
Now we know that the total retail value of all the backpacks that the buyer needs is $27,000 and the retail value of the backpacks he already purchased is $9,360.
So, the retail value of the backpacks that are still needed is: $27,000 - $9,360 = $17,640
Given that the average markup percent of all the backpacks must be 64.3% we can set up the equation like this:
(($17,640 * markup%) + $4,140) / ($17,640 + 360) = 64.3%
Solving for markup% = (0.643*($17,640 + 360) - $4,140) / $17,640
markup% = 42.14%
So, the markup percent that must be obtained on the balance of the purchases in order to average a 64.3% markup is 42.14%.
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Should medical schools be free?
Answers
Answer:It depends
Explanation: Medical schools can't be free so that the quality is not lowered. It can be subsidized except if there is a reliable funding in place.
Match the descriptions to the relevant theories and laws.
Okun's Law
stagflation
demand pull inflation
unemployment and inflation have an inverse relationship
unemployment and inflation can both be high at some point
Philip's Law
for every 1% decrease in unemployment rate, there is a 2% increase in GNP
too much money chasing too few goods
Answers
Okun's Law-for every 1% decrease in unemployment rate, there is a 2% increase in GNP. stagflation-unemployment and inflation can both be high at some point.
Stagflation is a condition in which there is a combination of slow economic development, rising prices, and rising unemployment. Although coexisting with poor economic development and high inflation is uncommon, it has happened before and many people think it might again.
Stagflation is a lethal combination that can cause an economic collapse where expenses and costs of living keep increasing. These kinds of economic crises are frequently brought on by significant changes in supply and loose monetary policy, and they continue longer than typical recessions because there is no permanent solution.
Thus, demand pull inflation-too much money chasing too few goods. Philip's Law-unemployment and inflation have an inverse relationship.
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Charles lives in Houston and runs a business that sells boats. In an average year, he receives $851,000 from selling boats. Of this sales revenue, he must pay the manufacturer a wholesale cost of $476,000; he also pays wages and utility bills totaling $281,000. He owns his showroom; if he chooses to rent it out, he will receive $71,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Charles does not operate this boat business, he can work as an accountant, receive an annual salary of $34,000 with no additional monetary costs, and rent out his showroom at the $71,000 per year rate. No other costs are incurred in running this boat business.
Implicit Cost
Explicit Cost
The salary Bob could earn if he worked as an accountant
The wholesale cost for the boats that Bob pays the manufacturer
The rental income Bob could receive if he chose to rent out his showroom
The wages and utility bills that Bob pays
Complete the following table by determining Bob's accounting and economic profit of his boat business.
Profit
(Dollars)
Accounting Profit
Economic Profit
Answers
Answer and Explanation:
The classification is as follows;
When bob worked as an accountant so he could earn the salary so this represent the implicit cost
The cost for the boats that bob paid to the manufactured represent the explicit cost
The rental income that received by bob represent the implicit cost
The wages and utility bills paid by bob represent the explicit cost
The Accounting profit is
= Revenue - explicit cost
= $851,000 - $476,000 - $281,000
= $94000
And, the Economic profit is
= Accounting profit - implicit cost
= $94,000 - $71,000 - $34,000
= -$11,000
The City of Houghton enacted an ordinance that forbids religious groups from distributing religious materials within the city limits of Houghton unless the distributor is granted a permit. Other types of materials can be distributed without a permit. What concerns do you have about the constitutionality of this ordinance?
Answers
The concerns that have about the constitutionality of this ordinance are Freedom of Religion, Content-Based Restrictions, Prior Restraint, Equal Protection and Unfettered Discretion.
Here are a few major concerns:
Religious Freedom: The First Amendment to the United States Constitution provides religious freedom, which includes the right to practise and express one's religious views. Content-Based limitation: By treating religious materials differently from other types of materials, the ordinance appears to impose a content-based limitation on communication. Prior constraint: Requiring religious organisations to seek a licence before disseminating religious materials is a type of prior constraint on speech. Equal Protection: If the ordinance treats religious groups differently than other groups or items, it may raise questions regarding legal equality. Unrestricted Discretion: If local officials have unrestricted discretion in choosing who gets a permit, there is a possibility of viewpoint discrimination or bias.For such more question on Restrictions:
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Whether to pay a lawmaker for giving a speech at your company is an ethical
dilemma that deals with
O A. lobbying
B. awarding honoraria
c. professional standards
D. gift giving
Answers
Answer: D
Explanation:
Answer:
D. gift giving
Explanation:
While in Chicago for a weekend, Tony's friend suggests that he eat at Michael Jordan's restaurant. Tony is confused as to why Michael Jordan has a restaurant if he isn't a chef. What is likely Michael Jordan's involvement in his restaurant as he is not a chef?
a. He may have financially invested in it, and he has lent his name to the establishment.
b. He is likely learning to cook from the chefs at his restaurant.
c. He likely manages the kitchen on a daily basis.
d. He likely has no involvement, and the owners just used his name.
Answers
A is the correct awnser
Bennett Co. has a potential new project that is expected to generate annual revenues of $262,100, with variable costs of $144,000, and fixed costs of $61,300. To finance the new project, the company will need to issue new debt that will have an annual interest expense of $24,500. The annual depreciation is $25,200 and the tax rate is 34 percent. What is the annual operating cash flow?
Answers
Answer:
Operating cash flow= $29,886
Explanation:
Giving the following information:
Sales= $262,100
Total variable cost= $144,000
Total fixed costs= $61,300.
Annual interest expense of $24,500. The annual depreciation is $25,200 and the tax rate is 34 percent.
We need to determine the operating cash flow:
Sales= 262,100
Total variable cost= (144,000)
Contribution margin= 118,100
Total fixed costs= (61,300)
Depreciation= (25,200)
Interest= (24,500)
EBIT= 7,100
Tax= (7,100*0.34)= (2,414)
Depreciation= 25,200
Operating cash flow= 29,886
The company's mission statement tells us...
Answers
Answer:
A company mission statement defines what an organization is, why it exists, its reason for being. At a minimum, your mission statement should define who your primary customers are, identify the products and services you produce, and describe the geographical location in which you operate.
Explanation:
Hope this helps
Simple interest is paid oniy on the
Answers
Answer:
Principal amount only
Explanation:
Simple interest is calculated based on the principal amount borrowed or the principal deposit. If the principal amount does not change, the simple interest earned will remain a constant figure through the loan or deposit life. Simple interest does not increase or decrease the principal amount.
Simple interest contrast with compound interest that adds interest earned to the principal amount at the end of a season.
Emma started a business called memories and melodies she recognized that music socialization and memory challenging activities for senior citizens helped maintain their cognitive skills for longer periods of time
Answers
As Emma started a business called memories and melodies she recognized that music socialization The Non-profit work is thereby the Emma.
What is Business?An innovative company or group that engages in professional activities is referred to as a business. They could be industrial, commercial, or something else. Businesses that are for-profit operate to make a profit, whereas those that are nonprofit do so to further a philanthropic cause.
The organization through striving for profits but is intended to use the profits for the social welfare of specific society sections. Such an organization is termed a nonprofit organization
Therefore, Thus option(C) is correct.
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The options are:
Profit
Business
Non-profit.
The following graph compares the greenhouse gas emissions from different forms of electricity production.
A bar graph of C O 2 equivalent emissions for full energy chain in grams per kilowatt hour lists the minimum and maximum values for the following sources: Coal, 860, 1290; Oil; 689, 890; Gas, 460, 1234; Hydro, 16, 410; Nuclear, 9, 30; wind, 11, 75; Solar P V, 30, 279; and Biomass, 37, 116.
Which conclusion is supported by the information in the graph?
Nuclear power releases less greenhouse gases than other forms of power.
Nuclear power releases an average amount of greenhouse gases.
Nuclear power releases no greenhouse gases.
Nuclear power releases more greenhouse gases than other forms of power.
Answers
Answer:
A.Nuclear power releases less greenhouse gases than other forms of power.
Explanation:
correct on edge
Nuclear power releases fewer greenhouse gases than other forms of power is supported by the information in the graph. Thus, option A is correct.
What is electricity production?The oxidation-reduction reactions in MFCs produce electrical energy as the consequence of the release, movement, and reception of electrons from biological processes. comparable emissions across the entire energy chain
The cheapest and greatest values are shown in a graph with bars of the C O 2 comparable emissions for the entire energy chain in grams per kilowatt hour.
That's because nuclear reactors harness fission, an anatomical procedure that separates uranium atoms and produces heat, to make tremendous quantities of energy. Compared to other kinds of energy, nuclear power emits fewer greenhouse emissions.
Therefore, option A is correct.
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Three members of Ahmad's family work at BioTechno, a multi-national drug manufacturer. Each of them owns 5% shares of the company respectively. In fact, most of the employees of BioTechno, like Ahmad and his family members, are stockholders of the company. BioTechno can be regarded as a _____.
Answers
Answer:
Public or Private company!
Explanation:
I don't know exactly what you're asking for here, but I believe the blank could be a private company.
If most (or only) Ahmad's family owns stocks of this company it would have to be a private company because a small group of people is the stockholders. But let us just say Ahmad's family is super-rich and they invested in BioTechno, which is a mid-cap stock. They own around 40% of the stocks, but a lot of others also own this stock. In that scenario, it would be a public company!
explain all the dimensions of Management functions in Human Resource management
Answers
Answer:down
Explanation:The four dimensions of human resource management practices are: Managing The Human Resource Environment, Acquisition and Preparation of Human Resources, Assessment and Development of Human Resources, and Compensation of Human Resources as stated by Noe et al (2010).
Answer: HR managers carry out a variety of tasks to ensure a business runs smoothly. The various dimensions of management functions in Human Resource management are as follows:
Explanation:
a. Planning
Planning for various things, from the hiring process to training and development programs, is the most crucial duty of an HR manager. Planning lays the foundation for other HR management responsibilities, such as determining job qualifications and the organization's need for recruitment.
b. Organizing
An HR manager is responsible for performing this role after the planning phase (discussed above) is finished. To meet the requirements and wants of the workforce while achieving business goals, they must create strategies and programs.
c. Directing
To carry out the goals and plans they have developed, HR managers need personnel. As a result, they lead their teams in a way that carries out the manager's goals and strategies. They assign tasks to the team members and keep tabs on their performance to assess their progress.
d. Controlling
One of the most significant managerial duties and obligations of an HR manager is this. In doing so, the HR manager monitors deviations, corrects them, and compares the results to the objectives. This entails tasks like audits and appraisals.
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The law in your state allows an employer to create an
enforceable agreement that restricts an employee's
postemployment activities as long as the restriction is
reasonable in terms of purpose, geographic area, and
duration. Your employer is a dominant force in the
technology industry, an industry that is ever changing at
a rapid pace. As a result, top employees want the flex-
ibility to move from company to company. Of course,
having and keeping top employees is a competitive
advantage. Assume that you are an executive charged
with determining whether your firm will embrace a
postemployment restriction within its contracts of
employment. If you adopt a justice theory approach,
what result might you adopt, and why? If you adopt a
utilitarianism approach, what result might you adopt,
and why?
Answers
Utilitarian theory respects all persons equally without particular regard and assists people in making moral decisions. The utilitarian theory provides a basic technique. According to utilitarian philosophy, humans value all moral terms such as self-sacrifice, justice, and honesty.
There are various philosophies of justice, including utilitarianism, justice as fairness, and libertarianism. Utilitarians were those who supported utilitarian doctrine. With utilitarian theory being one of the theories of justice, the researcher was compelled to investigate how the theory provides justice to people, how it impacts human behaviour, and the issues the theory faces in the present world. Act utilitarians argue that their theory gives compelling grounds to reject many conventional moral statements and substitute them with moral perspectives based on the consequences of actions. People who are persuaded by act utilitarianism's critics may decide to abandon utilitarianism outright and adopt another form of moral theory.
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Why are production possibilities curves helpful for businesses?
A. They show how many products will need to be sold to earn a
profit.
B. They show how producing one product affects production of
another.
C. They predict how a product's sales will rise and fall over time.
D. They compare production efficiency between multiple companies.
Answers
Answer: B - they show how producing one product affects production of another.
Explanation: Uses comparative advantage to allocate production factors, thus obtaining better efficiency
Prompt What is liability?
Answers
Answer:
The state of being responsible for something, especially by law
Tyra loves to shop at her favorite store, Dollar Barrel, where she can find hundreds of items priced at exactly $1. Tyra has to spend and is thinking of going on a shopping spree at Dollar Barrel, but she is also thinking of investing her money.
a. Suppose the expected rate of inflation is % (so next year, everything at Dollar Barrel will cost $1.01) and Tyra can earn on money that she invests. Approximately what real rate of interest could Tyra earn if she invests her money? How many items can she buy at Dollar Barrel today, and how many can she buy a year from now if she invests her money and goes shopping later? What is the percentage increase in Tyra's purchasing power if she waits a year to go shopping? Compare your answer to the approximate real interest rate on Tyra's investment.
b. Now suppose that the expected inflation rate is % and Tyra can earn % on money that she invests over the year. What is the approximate real rate of interest that Tyra will earn? Calculate the number of items that Tyra could buy next year from Dollar Barrel if she invests her money? What is the percentage increase in her purchasing power if she waits a year to go shopping? Relate your answer back to Tyra's real rate of return.
Answers
Answer:
$40 will go towards Margaret shopping spree
Explanation:
Question 9 of 10
To pay down the principal on your student loan right away, you should:
Answers
To pay down the principal on your student loan right away, one should pay more than minimum amount expected to be paid with interest.
What is student loan?
An agreement whereby a college or university student borrows a bank's money to pay for their studies and then repays the loan once they have finished their studies and have begun working.
Reason
A loan payment that doesn't go toward the interest due on the loan but instead lowers the amount still owed on the loan.
What is principal loan?
The principal is the sum of money you initially promised to repay. The cost for borrowing the principal is interest. In general, any payment is made on a vehicle loan will be used to cover any outstanding fees first.
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Which best describes how consumers may benefit from specialization?
Consumers can only purchase high-quality goods.
Consumers have more price options.
O Consumers receive more sale offers.
O Consumers find products at lower prices.
Answers
In specialization a company have produced the product at different price levels. Consumers have more price options.
What is consumer?A consumer is a person who purchases the goods and or services from the business and is also the ultimate user of the products or services. In specialization the company produces a certain product at many different levels by which they have many price options available which vary according to their customization and quality that can be offered to the consumers and hence the customer can purchase different types of a single product from a single company or Brand.
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Select the correct answer. How does insurance protect a policyholder against financial loss? A. by allowing the policyholder to make premium payments B. by allowing the policyholder to make a claim for reimbursement C. by allowing the policyholder to avoid maintenance costs for the insured items D. by allowing the policyholder to pay for all the losses
Answers
Answer:
by allowing the policyholder to make premium payments
Explanation:
Answer:
B. by allowing the policyholder to make a claim for reimbursement
Explanation:
Took the test on plato 100% right
Determine the missing amount:
Assets=Liabilities+owners Equity x 272000 573000
Answers
Based on the given amounts of assets and liabilities, the missing amount of Owner's equity is $301,000
How to find the equity?The Owners equity is one of the parts of the Accounting equation which is:
Assets = Liabilities + Owners Equity
The Assets in this instance is $573,000 and the Liabilities are $272,000.
The Owner's equity is the missing amount and it can be found as:
573,000 = 272,000 + Owners Equity
Owners Equity = 573,000 - 272,000
Owners Equity = $301,000
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To conclude, think about the effect on estimated/planned and
actual figures. What about the total variance figure? Are there
external factors that may affected these figures and what
actions could the business take?