Answer:
$390F
Explanation:
The Dermody variance for vehicle operating cost can be determined using the below mentioned formula:
Dermody vehicle operating cost variance=Planned vehicle operating cost- Actual vehicle operating cost
In the given question
Planned vehicle operating cost=$3,010+$331*15
=$7,975
Actual vehicle operating cost=$7,585
Dermody vehicle operating cost variance=$7,975-$7,585
=$390F
Answer: a. $648,125
b. $551875
Explanation:
a. Using the implied selling price of 129 5/8. what are the issuer's cash proceeds from issuance of these bonds?
Bonds Face Value = $500,000
Cash Proceeds will then be:
= 129.625% × $500,000
= $648,125
b. What total amount of bond interest expense will be recognized over the life of these bonds?
20 payments of $35000 = $700000
Pee value at maturity = $500000
Total repaid = $1200000
Less: Amount borrowed = $648125
Total bond Interest expense = $551875
Answer:
The correct answers are:
C-debit paid-in capital treasury shares $200
D-Debit retained earnings $300
Explanation:
The purchase of treasury stock for $10 per share implies that the price paid per share is the par value of each share.
Upon issue of 100 shares at $12 the following entries are required:
Dr Cash (100*$12) $1,200
Cr Treasury stock(100*$10) $1,000
Cr Paid-in capital in excess of par $200
However upon issue of 500 share at $9 per share which is $1 less than the par value, hence there is $500 discount on the issue.
The discount is recorded as follows:
Dr paid-in capital $200
Dr Retained earnings $300
The $200 posted to paid-in capital is the same premium that posted in there earlier when 100 shares.
Answer:
$75,260
Explanation:
Calculation for What should Pharoah Company report as other comprehensive income and as a separate component of stockholders' equity
Using this formula
Comprehensive income/separate component of stockholders' equity=Fair value-(Sales of bonds-July 1, 2021 Amortized premiums-December 31, 2021 Amortized premiums)
Let plug in the formula
Comprehensive income/separate component of stockholders' equity=$2,780,000 - ($2,724,740 - $9,820 - $10,180)
Comprehensive income/separate component of stockholders' equity=$2,780,000-$2,704,740
Comprehensive income/separate component of stockholders' equity= $75,260
Therefore What should Pharoah Company report as other comprehensive income and as a separate component of stockholders' equity is $75,260
