answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Jlenok [28]
1 year ago
14

On December 31, 2019, Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. Wintergreen received $

139,875 when it issued the bonds (or $150,000 × .9325). After recording the related entry, Bonds Payable had a balance of $150,000 and Discounts on Bonds Payable had a balance of $10,125. Wintergreen uses the straight-line bond amortization method. The first semiannual interest payment was made on June 30, 2020. Complete the necessary journal entry for June 30, 2020 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. Score answer Visit question mapQuestion 2 linked to 3 of 9 Total2 3 of 9 Prev
Business
1 answer:
Elina [12.6K]1 year ago
6 0

Answer:

June 30, 2020   Bond Interest expense      Debit        $5,756.25

                                     Discount on Bonds payable    Credit      $506.25

                                     Cash                                          Credit      $5,250

Explanation:

We have to calculate the interest expense. The bond interest expense = Cash payment + bond amortization discount

Given,

Bond price = $150,000

Interest = 7%

Number of period, n = 10 years × 2 (As it is a semiannual bond) = 20

Cash payment for semiannual interest = $150,000 × 0.07 × (1÷2)

Cash payment for semiannual interest = $5,250 (Credit)

Amortized bond discount (discount on bonds payable) = $10,125 ÷ 20 (as it is a semiannual payment and $10,125 is for 10 years)

Discount on bonds payable = $506.25 (Credit)

Therefore, bond interest expense = $5,250 + $506.25 = $5,756.25 (Debit)

You might be interested in
The chance of losing time, money, reputation, etc. is known as __________.
elena55 [62]
The answer to this question is: Risk
In most cases, something that give the potential reward of time, money, and reputation will also possess the risk of losing that same thing at the same degree. This principle will often used by investors to choose which portofolio that they want to pursue with their capital.

7 0
1 year ago
Duckistan Production Possibilities A B C D E Civilian Goods 20 18 14 8 0 Military Goods 0 1 2 3 4 Herbania Production Possibilit
olganol [36]

Answer:

B. Herbania is technologically superior to Duckistan in producing civilian goods.

Explanation:

Duckistan Production Possibilities

                            A    B    C    D    E

Civilian Goods    20  18   14    8    0

Military Goods     0     1    2     3    4

opportunity cost  -     ¹/₁₈  ¹/₇  ³/₈   4     civilian goods

opportunity cost  20  18   7   2.7   -     military goods

Herbania Production Possibilities

                            A    B    C    D    E

Civilian Goods    40  36  26   14   0

Military Goods     0    1     2     3    4

opportunity cost  -    ¹/₃₆  ¹/₁₃  ³/₁₄  4     civilian goods

opportunity cost  40 36   13  4.7   -     military goods

Herbania has an absolute advantage in the production of civilian goods. Since it also has a lower opportunity cost of producing civilian goods, therefore, it also has a comparative advantage at producing civilian goods. Assuming that resources are equal in both countries, then we can assume that Herbania is technologically superior in the production of civilian goods.

Dukistan has a lower opportunity cost of producing military goods, therefore, it has a comparative advantage at producing military goods.

3 0
1 year ago
Nieto Company’s budgeted sales and direct materials purchases are as follows. Budgeted Sales Budgeted D.M. Purchases January $ 2
inn [45]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Budgeted Sales:

January $ 237,400

February 251,400

March 336,600

Nieto’s sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible.

Cash collection March:

Cash sales= 336,600*0.3= 100,980

Credit Sales March= (336,600*0.7*0.1)= 23,562

From February= (251,400*0.7*0.5)= 87,990

From January= (237,400*0.7*0.36)= 59,824.8

Total= 272,356.8

4 0
1 year ago
Planning for acquisition support activities and requirements that deal with fielding/deployment should begin as early as the: [I
Nataly [62]

Option A, Materiel Solution Analysis Phase

Explanation:

The equipment answer Analysis  part assesses potential solutions for a required capability in associate Initial Capabilities Document (ICD) and to satisfy the phase-specific Entrance Criteria for ensuing program milestone selected by the Milestone call Authority.

The MSA phase is critical to program fulfilment and attaining materiel readiness because it’s the first possibility to persuade systems sup-portability and affordability by using balancing technology opportunities with operational and sustainment requirements. During this phase, various options are analysed to select the materiel solution and broaden the Technology Development Strategy (TDS) to fill any era gaps.

8 0
1 year ago
A 480 item pencil and paper standardized test of 20 personality dimensions used in selecting managers, sales associates and lead
11111nata11111 [884]

Answer:

Hogan Personality Inventory

Explanation:

The Hogan Personality Inventory (HPI) is commonly used to predict job performance by measuring normal personality dimensions. It is specially used to measure certain specific traits and abilities: leadership and planning. It is based on the Five-Factor Model and was specifically developed for working adults in the business industry.  

It is part of the Hogan Assessment tests used to predict job performance.

6 0
1 year ago
Other questions:
  • A trucking company is hired to deliver 125 lamps for $12 each the company agrees to pay $45 for each lamp that is
    5·1 answer
  • In a single year, the Netherlands can raise 100 tons of beef or produce 1,000 boxes of tulips. In the same growing season, Belgi
    15·1 answer
  • Which element(s) affect shirt sizes? A. amount of fabric used B. texture and color C. collar fitting and sleeve length D. intern
    10·1 answer
  • Rachel Davis buys a $20,000 property. She puts down $1,000, with the balance to be repaid over 20 years at 12% interest. Her mon
    11·1 answer
  • Collin has extracted the following balances from the ledger accounts for his business: (All amounts in $) Plant and machinery 95
    6·1 answer
  • Disruptive acts of some project team members due to personality issues, hidden agendas, or interpersonal problems are categorize
    6·1 answer
  • Carmel Inc. has come up with the idea of creating a television ad for its new range of assorted cookies. The marketing executive
    10·1 answer
  • The economy of Elmendyn contains 900 $1 bills. If people hold all money as currency, the quantity of money is $ . If people hold
    5·1 answer
  • A company rents office space for $10,000. The company hasn’t yet recorded payment as an expense in the financial statements beca
    15·1 answer
  • A peach farmer must decide how many peaches to harvest for the world peach fair. He knows that there is a 25 percent chance that
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!