Business, 12.08.2019 22:10 brook633

Sugar city issued $2 million of bonds to fund the construction of a new city office building. the bonds have a stated rate of interest of 5% and were sold at 101. which of the following entries should be made in the capital projects fund to record this event
a) debit cash: $2.02 million; credit bonds payable $2 million and premium on bonds payable $.02 million.
b) debit cash: $2.02 million; credit bonds payable $2 million and other financing sources $.02 million
c) debit cash: $2.02 million; credit other financing sources $2.02 million
d) debit cash: $2.02 million; credit other financing sources $2 million and revenue $.02 million.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 12:50

Kendrick is leaving his current position at a company, and charlize is taking over. kendrick set up his powerpoint for easy access for himself. charlize needs to work in the program that is easy for her to use. charlize should reset advanced options

Answers: 3

Answer

Business, 22.06.2019 20:00

Ajax corp's sales last year were $435,000, its operating costs were $362,500, and its interest charges were $12,500. what was the firm's times-interest-earned (tie) ratio? a. 4.72b. 4.97c. 5.23d. 5.51e. 5.80

Answers: 1

Answer

Business, 22.06.2019 21:00

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be:

Answers: 3

Answer

Business, 22.06.2019 23:10

The direct labor budget of yuvwell corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st quarter 2nd quarter 3rd quarter 4th quarterbudgeted direct labor-hours 11,200 9,800 10,100 10,900the company uses direct labor-hours as its overhead allocation base. the variable portion of its predetermined manufacturing overhead rate is $6.00 per direct labor-hour and its total fixed manufacturing overhead is $80,000 per quarter. the only noncash item included in fixed manufacturing overhead is depreciation, which is $20,000 per quarter.required: 1. prepare the company’s manufacturing overhead budget for the upcoming fiscal year.2. compute the company’s predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year.

Answers: 3

Answer

You know the right answer?

Sugar city issued $2 million of bonds to fund the construction of a new city office building. the bo...

Questions