Business, 29.10.2021 15:40 StupidFatChipmunk
On January 1, 2020, Bonita Company purchased $360,000, 8% bonds of Aguirre Co. for $332,201. The bonds were purchased to yield 10% interest. Interest is payable semiannually on July 1 and January 1. The bonds mature on January 1, 2025. Bonita Company uses the effective-interest method to amortize discount or premium. On January 1, 2022, Bonita Company sold the bonds for $333,764 after receiving interest to meet its liquidity needs.
1. Prepare the journal entry to record the purchase of bonds on January 1. Assume that the bonds are classified as available-for-sale.
2. Prepare the journal entries to record the semiannual interest on (1) July 1, 2020, and (2) December 31, 2020.
3. If the fair value of Aguirre bonds is $335,764 on December 31, 2021, prepare the necessary adjusting entry. (Assume the fair value adjustment balance on December 31, 2020, is a debit of $3,142.)
4. Prepare the journal entry to record the sale of the bonds on January 1, 2022.
Answers: 2
Business, 22.06.2019 11:20
Lusk corporation produces and sells 14,300 units of product x each month. the selling price of product x is $25 per unit, and variable expenses are $19 per unit. a study has been made concerning whether product x should be discontinued. the study shows that $72,000 of the $102,000 in monthly fixed expenses charged to product x would not be avoidable even if the product was discontinued. if product x is discontinued, the annual financial advantage (disadvantage) for the company of eliminating this product should be:
Answers: 1
Business, 22.06.2019 13:00
Dakota products has a production budget as follows: may, 16,000 units; june, 19,000 units; and july, 24,000 units. each unit requires 3 pounds of raw material and 2 direct labor hours. dakota desires to keep an inventory of 10% of the next month’s requirements on hand. on may, 1 there were 4,800 pounds of raw material in inventory. direct labor hours required in may would be:
Answers: 1
Business, 22.06.2019 20:20
This activity is important because as a marketing manager, you must allocate resources to reach your target market. during the strategic marketing process, managers move through three important phases to determine how to optimally allocate resources: a planning phase, an implementation phase, and an evaluation phase. in this interactive exercise, you are asked to review various strategic marketing actions and determine where in the strategic marketing process the action would occur. the goal of this exercise is to demonstrate your understanding of the strategic marketing process and related marketing actions.
Answers: 2
Business, 23.06.2019 00:30
Oimpermeable peaeiremblm: a garment you put on when it's raining. eddepnieent: a sales person. rrgteeaa: to negotiate the price of an article. jcaa: a box where the sales person keeps the money of his/her sales. rbatoa: something inexpensive. zalu: the color of the sky. gfolasdaes (3 words): an object that protects your eyes from the sun.
Answers: 2
On January 1, 2020, Bonita Company purchased $360,000, 8% bonds of Aguirre Co. for $332,201. The bon...
History, 30.10.2021 14:00
Social Studies, 30.10.2021 14:00
Biology, 30.10.2021 14:00
Mathematics, 30.10.2021 14:00
Chemistry, 30.10.2021 14:00
Biology, 30.10.2021 14:00
History, 30.10.2021 14:00
Mathematics, 30.10.2021 14:00
Biology, 30.10.2021 14:00
History, 30.10.2021 14:00