Brooks Corporation sells computers under a 2-year warranty contract that requires the corporation to replace defective parts and to provide the necessary repair labor. During 2014, the corporation sells for cash 451 computers at a unit price of $3,110. On the basis of past experience, the 2-year warranty costs are estimated to be $159 for parts and $209 for labor per unit. (For simplicity, assume that all sales occurred on December 31, 2014.) The warranty is not sold separately from the computer.1. Record any necessary journal entries in 2014, applying the cash-basis method.2. Record any necessary journal entries in 2014, applying the expense warranty accrual method.3. What liability relative to these transactions would appear on the December 31, 2014, balance sheet and how would it be classified if the expense warranty accrual method is applied?4. In 2015, the actual warranty costs to Brooks Corporation were $24,040 for parts and $41,080 for labor. Record the journal entry in 2015, applying the cash-basis method. Use "Inventory" account to record the warranty expense.
5. In 2015, the actual warranty costs to Brooks Corporation were $24,040 for parts and $41,080 for labor. Record the journal entry in 2015, applying the expense warranty accrual method. Use "Inventory" account to record the warranty expense.
Answers
Answer and Explanation:
Brooks Corporation
1. The 2014 cash-basis journal entries will be:
Date Description Debit Credit
2014
DR Cash $1,402,610
($3,110 x 451)
CR Sales Revenue $1,402,610
No Journal entry is recorded for the possible warranty expense in a situation where the cash-basis is used.
2. The 2014 accrual method journal entries will be:
Date Description Debit Credit
2014
DR Cash $1,402,610
CR Sales Revenue $1,402,610
2014
DR Warranty expenses 165,968
($368 x 451)
CR Accrued Warranty Expense 165,968
3. On December 31, 2014, financial statements, there will be an Accrued Warranty Liability in which it will be classified as a current liability unless in a situation where the company can reasonably estimate which portion will be spent in the second year of the warranty period, in which case that portion can be classified as a long-term liability.
4. The 2014 cash-basis journal entries will be:
Date Description Debit Credit
2015
DR Warranty Expense 65,120
CR Wages Expense 41,080
CR Inventory 24,040
5. The 2014 accrual method journal entries will be:
Date Description Debit Credit
2015
DR Accrued Warranty Expense 65,120
CR Wages Expense 41,080
CR Inventory 24,040
Related Questions
Select the correct answer. For which jazz style was new orleans famous? a. Bebop b. Swing c. Cool jazz d. Dixieland.
Answers
The correct answer is d. Dixieland They claimed that it was their traditional jazz. jazz style was new orleans famous.
Jazz music is strongly associated with New Orleans, Louisiana, which is widely recognised as the cradle of the genre. Dixieland, often known as classic jazz, "New Orleans," and "New Orleans jazz," was the first type of jazz. Dixieland jazz is a subgenre of jazz that is based on the music that emerged in New Orleans at the beginning of the 20th century. It is sometimes known as classic jazz, hot jazz, or just Dixieland.Through the 1920s, "New Orleans style" or Dixieland jazz was extremely well-liked, but the 1930s witnessed the emergence of a new musical movement: swing. The big bands of the late 1930s and early 1940s were finally formed when several jazz performers combined into larger combos.
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The operating budget provides a roadmap for financial plans for a short-term, future period. What is a typical “future period” for an operating budget?
Answers
An operating budget is a financial statement that outlines the organization's expenditures and revenues for a specific period.
The operating budget is typically for a fiscal year, which is usually twelve months. The future period for an operating budget is usually a fiscal year or less than a year. The operating budget is critical because it establishes guidelines for financial activities and operations in an organization. It provides a roadmap for financial plans for a short-term, future period, which typically begins on January 1st and ends on December 31st.
An organization creates an operating budget to aid in the allocation of resources and expenditures to achieve its objectives for a given period. A typical operating budget is for a fiscal year. A fiscal year is the period when an organization prepares its financial statements. It is usually 12 months, but it may be shorter or longer depending on the organization. An operating budget typically covers one fiscal year; however, it may be longer or shorter based on the organization's preferences.
The future period for an operating budget is frequently updated to reflect the company's current situation and financial standing. It takes into account the actual results of the previous period and the estimated expenditures and revenues for the upcoming year to develop the operating budget for a future period.
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What describes an activity associated with accounting?
Answers
Answer:
Identifying, Recording, and Communicating.
Explanation:
Relative Valuation (45 min) X KNOWLEDGE CHECK On the chart below, if the earnings per share grew from 7.61 on December 31, 2018, to 7.82 on June 30, 2019, what would the implied earnings yield be?
Answers
The implied earnings yield be 4.1%.
Thus, the correct option is B.
What do you mean by earnings?The net advantages of a corporation's operations are its earnings. Additionally, earnings are the source of corporation tax obligations.
EBIT and EBITDA are two additional terms that are more specifically utilized for a study of certain areas of company operations. There are other other names for earnings that are frequently used, including income and profit.
Earnings are the sum of money that a person or organization receives over a specific time period.
They can be found on an income statement for a business and are used to gauge how profitable it is. Better financial performance is typically indicated by higher recurring earnings, which can also have a beneficial effect on stock values.
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the correct answer for monopoly please
Answers
The Ruritanian Ministry of Health has discovered that widgets, a biological cousin to widgets, have important positive side effects. To ensure that all Ruritanian citizens can afford to buy widgets, they have set a ceiling price of 2 kroner per wodget. Not surprisingly, since the equilibrium price is 4 kroner, a black market has developed for wodgets.
Required:
a. What is the quantity demanded of wodgets at 2 kroner?
b. What is the excess supply at a price of 2 kroner?
Answers
Answer:
a. 80 widgets
b. -55 widgets
Explanation:
a. At the price ceiling of 2 kroner per widget, suppliers on the graph are only willing to supply 25 widgets yet the demand at that point is 80 widgets.
b. An excess of supply would imply that Suppliers are supplying more than people are demanding. At a price of 2 Kroner, that is not the case. There is a shortage instead.
Supply excess = Quantity supplied - Quantity demanded
= 25 - 80
= -55 widgets
a. The quantity demanded of widgets at 2 kroner 80 widgets
b. The excess supply at a price of 2 kroner is -55 widgets
The calculation is as follows:a. Since the price ceiling of 2 kroner per widget, suppliers on the graph are only willing to supply 25 widgets so the demand at that point is 80 widgets.
b.
Now
Supply excess = Quantity supplied - Quantity demanded
= 25 - 80
= -55 widgets
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If all could be answered it would be great. I am a Teachers Assistant but wasn't there for her lesson so I unfortunately do not have access to the lesson. if these can be explained, I'd appreciate it! thank you.
Answers
Answer: 1 to build positive connection with clients
2 Handle the situation in a proper manner never break your position
3 try and give step by step instruction in order resolve or overcome the issue
4 same deal just a communitive walk through for the customer so it easy to understand and comprehend
5 stress is tough i admit but there are was to prohibit this. such as do one thing at once staying focused and never break out of the work force habitat so to say
Explanation:
TRUE/FALSE. Corporations are legally formed by filing articles of organization with the state in which the corporation will be created.
Answers
The assertion is untrue, according to a corporation file article by incorporation.
What are articles of incorporation?The legal documents that a corporation files to establish itself as a legitimate business organisation are called articles of incorporation. These documents are crucial because they offer owner liability reduction, legal recognition, tax benefits, and the ability to issue stock.
Articles of incorporation, which are legal documents that formally establish independent business entities, are the documents that corporations can use to accomplish this. Tax advantages, the ability to issue stock, and decreased owner liability are all advantages of the process. The state may ask for information like the type of corporation and stakeholder information when filing articles of incorporation.
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The key principle of supply chain management can be best summed up as ________ between multiple firms.
Answers
Answer:
Collaboration.
Explanation:
Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.
The key principle of supply chain management can be best summed up as collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing, a wholesaler, and a retailer who typically sells the products to the customers or consumers.
Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.
A promissory note can best be described as __________., a. an interest-bearing IOU, b. a guarantee of a line of credit, c. a commitment to lend money to someone, d. a government-backed bond
Answers
A promissory note can best be described as: a. an interest-bearing IOU.
What is promissory note?Promissory note can be defined as a written note that help to shows that a person who lend a money from another person promise to payback. The note contains a promise by the borrower to pay back the lender within a stipulated period of time.
A promissory note can tend to be described as IOU which full meaning is I OWE YOU which implies that a borrower is telling the lender that he/she owe the lender some certain amount of money which the borrower will have to payback.
A promissory note also contains the terms and conditions of the agreement and this terms and agreement includes the following :
The principal amountThe loan maturity dateThe interest etcTherefore we can conclude that the correct option is A.
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Many employment contracts have mandatory arbitration clauses.
False
True
Answers
illustrate the effect that a decrease in a price of milk (an input of ice cream) would have on the market for ice cream.
Answers
A decrease in the price of milk would lead to a decrease in the production cost of ice cream and an increase in its supply, causing a decrease in the equilibrium price of ice cream and an increase in its quantity demanded and supplied.
A decrease in the price of milk is likely to have a direct effect on the market for ice cream. Milk is a key ingredient in the production of ice cream, and so a decrease in the price of milk would lead to a decrease in the production cost of ice cream. The impact of this decrease in production cost will result in an increase in the supply of ice cream. The supply curve will shift to the right, showing that more ice cream is available for sale at any given price.
This means that the equilibrium price of ice cream will decrease because suppliers are willing to sell more ice cream at lower prices due to lower production costs. As a result, consumers would demand more ice cream because they would be able to purchase it at a lower price. This increase in demand would cause the demand curve to shift to the right, further increasing the equilibrium quantity of ice cream traded in the market.
Therefore, a decrease in the price of milk would lead to a decrease in the production cost of ice cream and an increase in its supply, causing a decrease in the equilibrium price of ice cream and an increase in its quantity demanded and supplied.
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Market research can help you strategize your _______ and _______ goals.
Primary research is more _______ than secondary research.
Your first marketing priority is to find out if you can _______ your product or services.
The grouping of people for marketing purposes is called _______.
Once you find out what people want, there’s a need to know the _______ for their choices.
Answers
Market research can help you strategize your business and marketing goals.
Primary research is more specific and tailored to your specific needs than secondary research.
Your first marketing priority is to find out if you can sell your product or services.
The grouping of people for marketing purposes is called segmentation.
Once you find out what people want, there's a need to know the motivations for their choices.
Market research plays a critical role in shaping business and marketing strategies by providing valuable insights into customer preferences, market trends, and competitive landscapes. It helps in identifying target markets, understanding customer needs, and developing effective strategies to achieve business and marketing goals.
By conducting research, businesses can gather data and information to inform their decision-making and ensure that their goals are aligned with customer expectations and market opportunities.
Primary research involves gathering firsthand data directly from the source, such as through surveys, interviews, or observations. It is more specific and focused on the unique needs and objectives of a particular study. Secondary research, on the other hand, involves using existing data and information from published sources.
While secondary research provides a broader understanding of a topic, primary research allows for more control and customization of the research process to address specific research objectives.
When launching a new product or service, one of the primary marketing priorities is to determine if there is a demand for it in the market.
Market research helps in assessing the viability and potential success of a product or service by gathering insights on customer preferences, needs, and market conditions. This information enables businesses to make informed decisions about product development, positioning, pricing, and marketing strategies.
Segmentation is the process of grouping individuals with similar characteristics or behaviors into distinct segments for marketing purposes.
By segmenting the market, businesses can target specific groups that are most likely to be interested in their products or services. Market segmentation allows for more personalized and targeted marketing strategies, resulting in better customer engagement and increased marketing effectiveness.
Once businesses identify what people want through market research, it becomes crucial to understand the motivations behind their choices. This involves delving deeper into the underlying reasons, preferences, and factors that drive consumer behavior.
By understanding the motivations behind consumer choices, businesses can tailor their marketing messages, product features, and overall customer experience to better align with customer needs and increase the chances of success in the market.
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Home
mortgages use amortization schedules, but the principal
balance might be 10 or 100 times larger than Janet's $3500 trip. They're typically paid back
over a period of 30 years at a much lower interest rate (~4%). Explain what you think that
amortization schedule might look like,
Answers
The amortization schedule might look like the following assuming that the Home Mortgage is 100 times larger than Janet's $3,500 trip.
Monthly Amortization SchedulePeriod Present Value Payment Interest Repayment Future Value
1 $350,000.00 $-1,670.95 $1,166.67 $504.28 $-349,495.71
2 $349,495.71 $-1,670.95 $1,164.99 $505.96 $-348,989.75
3 $348,989.75 $-1,670.95 $1,163.30 $507.65 $-348,482.09
...
358 $4,979.63 $-1,670.95 $16.60 $1,654.35 $-3,325.27
359 $3,325.27 $-1,670.95 $11.08 $1,659.87 $-1,665.40
360 $1,665.40 $-1,670.95 $5.55 $1,665.40 $0.00
What is an amortization schedule?An amortization schedule is a table listing the computations of monthly mortgage payments, the date of each transaction, the principal balance at the beginning and end of the period, and the repayments.
The repayments section occupies three columns: periodic payments, principal portion, and interest.
The above amortization schedule, which shows the first and last three payments, indicates how the principal repayment continues to increase while the interest decreases, with the periodic payments remaining the same throughout the 360 months.
N (# of periods) = 360 months (30 x 12)
I/Y (Interest per year) = 4%
PV (Present Value) = $350,000
FV (Future Value) = $0
Results:
PMT = $-1,670.95
Sum of all periodic payments = $-601,543.27 ($-1,670.95 x 360)
Total Interest = $251,543.27
Thus, an amortization schedule enables the visualization of periodic payments.
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20 Point
Which portion of the passage indicates that Neil’s prototype product requires many more changes?
1.(Neil created a robot that works on certain commands.) 2(However, the robot freezes and dismantles itself on hearing commands it does not recognize.) 3(While the robot recognizes most commands,) 4(it sometimes confuses similar-sounding commands.) 5(Neil spent five years creating this robot and invested all his savings in it.)
Answers
Answer:
Number 2 or Number 4.
Explanation:
On number 2, the robot freezes when it doesn't recognize the command. Obvious problem. On number 4, the robot confuses similar sounding commands. Also an obvious problem.
Answer:
2
Explanation:
Some companies require multiple interviews as part of their hiring processes.
True
False
Answers
i hope it helps
Answer the following questions on the basis of the monopolist's situation is illustrated in the following graph.
a. At what output rate and price does the monopolist operate?
b. In the equilibrium, approximately what is the firm's total cost and total revenue?
c. What is the firm's economic profit or loss in equilibrium?
Answers
The following answers are based on a monopoly economy.
The output rate and the price at which the monopolist operates based on the graph is 100 quantities at $10.In the market equilibrium, the firm's total cost and total revenues are $750 and $1000 respectively. The firm's economic profit in the equilibrium is $250.What is a monopoly?A monopoly, as defined by Irving Fisher, is a market with "no competition," resulting in a scenario in which a certain individual or organization is the exclusive supplier of a given product.
To arrive at answer a, we need to recall that the equilibrium of a monopolist is when the Marginal Cost equals the Marginal Revenue and the Marginal Cost Curve (MC) cuts the Marginal Revenue Curve (MR ) from below.
At this point, the equilibrium output is 100, and the equilibrium price is $ 10 for every unit of production.
For the answer is b, given that the firm is producing 100 units of goods at an average total cost of $7.5 (derived from the point that aligns with MR = MC), therefore,
Total Cost = Equilibrium Output * ATC (Average Total Cost)
= 7.5 * 100
= $750
To arrive at answer c,
Recall that Economic profit is the difference between the money collected from the sale of a product and the expenses of all inputs utilized, as well as any opportunity costs, is the economic profit or loss.
Hence, Economic Profit = Total Revenue (TR) Less Total Cost (TC)
= $1000 - $ 750
= $250
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A company prospectus includes:
Answers
A company prospectus includes Business Overview, Company History, Management Team, Financial Information, Risk Factors, Legal and Regulatory Information, Corporate Governance.
The contents of a company prospectus may vary depending on the specific regulations of the jurisdiction where the company operates. However, in general, a prospectus includes the following key elements:
Business Overview: A description of the company's business activities, including its industry, products or services, target market, and competitive advantages.Company History: Background information about the company, including its founding date, key milestones, and any significant events that have shaped its development.Management Team: Profiles of the company's key executives and management team members, including their qualifications, experience, and responsibilities.Financial Information: Detailed financial statements, including balance sheets, income statements, and cash flow statements, for a specified period. This section also provides information on the company's assets, liabilities, revenues, expenses, and profitability.Risk Factors: A discussion of the potential risks and uncertainties that could affect the company's operations, financial performance, or investment prospects. This may include market risks, regulatory risks, industry-specific risks, or any other factors that investors should consider before making investment decisions.Legal and Regulatory Information: Disclosures related to any legal or regulatory matters that may impact the company, such as pending lawsuits, regulatory compliance issues, or intellectual property rights.Corporate Governance: Details about the company's corporate structure, board of directors, executive compensation, and any other corporate governance practices that ensure transparency and accountability.For such more question on Financial:
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Abbott Landscaping purchased a tractor at a cost of $30,000 and sold it three years later for $16,200. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $4,000 residual value. Tractors are included in the Equipment account.
Assume the tractor was sold for $12,400 instead of $19,800. Record the sale.
Answers
Answer:
Debit Credit
Cash $16,200
Accumulated depreciation-equipment $15,600
Gain on sale of equipment 1,800
Equipment 30,000
(To record sale of equipment)
Explanation:
According to the given data we have the following:
Equipment=$30,000
Cash=$16,200
Therefore,The accumulated depreciation would be=($30,000-4,000)/5*3
The accumulated depreciation would be=$15,600
Therefore, the sale to record would be as follows:
Debit Credit
Cash $16,200
Accumulated depreciation-equipment $15,600
Gain on sale of equipment 1,800
Equipment 30,000
(To record sale of equipment)
Data mining would be most helpful to a manager that wants to
Answers
Data mining would be most helpful to a manager that wants to discover unexpected relationships among the data stored by his/her organization.
Businesses employ the technique of data mining to transform unstructured data into information that is useful. Organization may learn more about their consumers to create more profitable campaigns, boost sales, and save expenses by utilizing software to explore for patterns in massive quantities of data. The efficient gathering, storage, and processing of data are essential for data mining.
Based on user requests, data mining tools examine correlations and patterns in data. An organization may employ data mining software to produce information classifications, for instance. As an example, consider a restaurant that wishes to utilize data mining to figure out when to run specific specials. It examines the data it has gathered and establishes classifications according to the frequency of client visits and the items they purchase.
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A Troubador is... *
O An English word for Trouble Maker
O A Buddhist Monk
O A traveling Sacred Musician
A traveling Seculary Musician
Answers
Answer:
A troubadour was a poet and musician of the Middle Ages who performed songs about chivalry and courtly love. Troubadours were mainly active in the courts of the Frankish nobility and played an important role in the development of vernacular literature in medieval Europe. Their songs were typically performed with a musical instrument, such as a lute or a harp, and helped to spread stories, news, and cultural values across the continent.
what is financial ratio?
Answers
Answer:
financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization.
Explanation:
financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization.
Eli’s teacher ask him a question and he responds by saying,”Bill Gates.”What question did Eli’s trashed MOST LIKELY ask?
Answers
Based on the fact that the answer was Bill Gates, the question that Eli's teacher most likely asked was, " Who founded Microsoft"?
What did Bill Gates do?Bill Gates was found of two founders of Microsoft in 1975 which they described as a blend between the best software available and the advances in micro-computing.
Bill Gates then went on to become one of the richest men in the world thanks to his shares in Microsoft and other companies. Eli was therefore most probably answering a question that related to Microsoft.
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Assuming no change in the nominal wage and a significant increase in human capital, the output per worker will
(A) increase and the real wage will decrease
(B) increase and the real wage will increase
(C)decrease and the real wage will decrease
(R) decrease and the real wage will increase
(E) increase and the real wage will remain unchanged
Answers
Assuming no change in the nominal wage and a significant increase in human capital, the output per worker will increase and the real wage will increase
What happens Assuming no change in the nominal wage and a significant increase in human capitaHuman capital investment increases demonstrate workers becoming more skilled, knowledgeable and productive; in turn this should result in higher output per worker at no change to nominal wage;
this increase should then cause real wages (i.e. the purchasing power) to also rise as workers are now producing more valuable output per hour worked; which in turn leads to both greater output as well as compensation increases due to human capital investment resulting in both increased output as well as compensation levels for workers.
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In product development, what is an iterative
loop?
A. It is when customers and employees provide feedback to the
design team.
B. It is when the design team creates a prototype.
C. It is when a new product is released to the general public.
Answers
Answer:
The answer is A. It is when customers and employees provide feedback to the design team.
An iterative loop is a process in which the design team creates a prototype, tests it with customers and employees, and then uses the feedback to improve the prototype. This process is repeated until the design team is satisfied with the product.
Iterative loops are a valuable part of the product development process because they allow the design team to get feedback from real users early on. This feedback can help the team identify any problems with the design and make improvements before the product is released to the general public.
Here is an example of an iterative loop in product development:
1. The design team creates a prototype of a new product.
2. The team tests the prototype with customers and employees.
3. The team collects feedback from the users.
4. The team uses the feedback to improve the prototype.
5. The team repeats steps 2-4 until they are satisfied with the product.
Iterative loops can be used to develop any type of product, from software to hardware to consumer goods. They are a valuable tool for any design team that wants to create a product that meets the needs of its users.
Explanation:
practice setting goals for various aspects of your personal life such as academics career preparation family hobbie. set at least two short term goals and at least two Long term goals for each area for these goals that you have set write out plans for achieving those goals.think in terms of what you will have to do to accomplish each
Answers
Certainly, setting goals is an essential practice to achieve success and satisfaction in various aspects of personal life.
Academics:
Short-term goals:
Attend all classes and complete assignments on time.Improve my grade in a specific course by studying regularly. Plan to achieve short-term goals:
Create a daily study schedule and allocate time for reading, writing, and reviewing notes.Seek help from a tutor or professor for difficult concepts.
Long-term goals: Achieve a high GPA to qualify for graduate school. Get accepted into my desired graduate program. Plan to achieve long-term goals: Take challenging courses and attend workshops or seminars to improve academic skills.Research graduate programs and their admission requirements, and prepare for standardized tests if necessary.
Career Preparation:
Short-term goals: Update my resume and cover letter for job applications.Attend a networking event and meet new people in my industry. Plan to achieve short-term goals:Research the latest trends in resume and cover letter writing, and tailor them to specific job applications. Prepare a pitch and networking strategy in advance.
Long-term goals:
Secure a job in my preferred industry and position. Develop new skills and advance in my career.Plan to achieve long-term goals:Attend career fairs, conferences, and other industry events to network and learn about job opportunities.Take online courses or certifications to acquire new skills and knowledge.Seek mentorship or coaching from experienced professionals.
Family:
Short-term goals:Plan a weekend outing with my family.Call or video with a family member living in a different city or country.Plan to achieve short-term goals: Discuss with family members and decide on a fun activity that everyone can enjoy.Schedule a specific time for calling or video chatting, and set reminders if necessary.
Long-term goals:
Spend more quality time with family on a regular basis.Plan and save for a family vacation in the next year.Plan to achieve long-term goals:Create a family calendar or schedule to plan and prioritize events and activities.Set aside a specific amount of money each month for family vacations or other activities.
Hobbies:
Short-term goals:
Practice a new hobby for at least one hour each day.Learn a new technique or skill in my hobby.Plan to achieve short-term goals:Schedule a specific time each day for practicing or learning, and avoid distractions. Research online tutorials or courses, and follow step-by-step instructions.
Long-term goals:
Master a specific hobby and showcase my work publicly.Incorporate my hobby into my career or business.Plan to achieve long-term goals:Attend workshops or conferences to learn from experts and connect with like-minded individuals.Create a portfolio or online gallery to showcase my best work and promote my hobby.
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The liabilities of Wildhorse Company are $113,000 and the owner’s equity is $235,000. What is the amount of Wildhorse Company’s total assets?
Answers
Answer:
$122,000
Explanation:
i dont know i just subtracted ¯\_(ツ)_/¯
On January 1, 2020, Shay Company issues $700,000 of 10%, 15-year bonds. The bonds sell for $684,250. Six years later, on January 1, 2026, Shay retires these bonds by buying them on the open market for $731,500. All interest is accounted for and paid through December 31, 2025, the day before the purchase. The straight-line method is used to amortize any bond discount.
-What is the amount of the discount on the bonds at issuance?
-How much amortization of the discount is recorded on the bonds for the entire period from January 1, 2020, through December 31, 2025?
-What is the carrying (book) value of the bonds as of the close of business on December 31, 2025?
-Prepare the journal entry to record the bond retirement.
Answers
1. The amount of the bond discount at issuance is $15,750.
2. $6,300 amortization discount has been recorded on the bonds from January 1, 2020, through December 31, 2025.
3. The carrying (book) value of the bonds as of the close of business on December 31, 2025, is $690,550.
4. The journal entry to record the bond retirement at a loss is as follows:
Journal Entry:Account Titles Debit Credit
December 31, 2025:
Bonds Payable $700,000
Retirement Loss $40,950
Cash $731,500
Bond Discounts $9,450
Bonds' issuance date = January 1, 2020
Face value of bonds = $700,000
Sales proceeds = $684,250
Bond discounts at issuance = $15,750 ($700,000 - $684,250)
Period of bonds = 15 years
Coupon rate = 10%
Bond's retirement on Jan. 1, 2026 = $731,500
Bond discount amortization method = straight-line
Annual bond amortization = $1,050 ($15,750/15)
Bond amortized after 6 years = $6,300 ($1,050 x 6)
Carrying value of bonds on December 31, 2025 = $690,550 ($700,000 - $9,450)
Carrying value of bond discounts = $9,450 ($15,750 - $6,300)
Transaction Analysis:Bonds Payable $700,000 Retirement Loss $40,950 Cash $731,500 Bond Discounts $9,450
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Yvonne and Rolanda are good friends. One day, they are on the way to the market together when they are hit by a car whose driver runs a stop sign. Yvonne is barely injured, but Rolanda sustains life-threatening injuries. In the hospital, just before they wheel Rolanda away to surgery, Rolanda tells Yvonne that she wants Yvonne to have her diamond necklace. Rolanda directs Yvonne to get the diamond necklace out of Rolanda’s purse, where they had put it after the accident, so Yvonne does. The surgery is successful, and Rolanda makes a full recovery. If Rolanda asks for her necklace back:
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Answer:
Yvonne would have to return the necklace to Rolanda
Explanation:
Yvonne would have to return the necklace to Rolanda after she survived the surgery because it was a gift causa mortis, a gift given in contemplation of impending death. Because Rolanda did not die, Rolanda is entitled to have the necklace returned to her.
Think about the place where you go for cosmetology services. What keeps you going back to that hair salon, nail salon, or other place of business? Discuss the factors that impact your decision when you are the customer.
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Quality of service and customer experience keep me going back to a cosmetology service provider.
As a customer of a cosmetology service provider, several factors impact my decision to return to a particular business. The most important factor is the quality of service provided. I expect the service provider to deliver excellent results that meet my expectations. Additionally, customer experience is crucial in my decision-making process. A friendly and welcoming atmosphere, attentive staff, and a comfortable environment all contribute to an enjoyable customer experience.
Cleanliness, safety, and adherence to hygiene protocols are also essential considerations. Finally, the price and value for money are critical factors in my decision, and I expect the prices to be competitive and reasonable for the quality of service provided. Overall, a combination of excellent service, enjoyable customer experience, and reasonable prices keep me going back to my preferred cosmetology service provider.
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