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
Alex Ar [27]
2 years ago
12

Tomkin Library System issues $5 million in bonds on January 1, 2021 that pay interest semi-annually on June 30 and December 31.

A portion of the bond amortization schedule appears below: Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value 01/01/2021 $ 5,500,000 06/30/2021 $ 250,000 $ 220,000 $ 30,000 5,470,000 12/31/2021 250,000 218,800 31,200 5,438,800 What is the stated annual interest rate?
Business
1 answer:
Alona [7]2 years ago
4 0

Answer:

10%

Explanation:

Cash paid as semiannual coupon payment is $250,000

semiannual annual interest rate=semiannual coupon payment/face value of the bond.

The face value of the bond is $5,000,000

stated semiannual rate of interest=$250,000/$5,000,000=5%

Stated annual rate of interest =semiannual rate of interest *2

stated annual rate of interest=5%*2=10%

The coupon rate quoted on Tomkin Library Systems is 10% per year

yield to maturity =$220,000/$5,500,000*2=8%

Since the coupon rate is higher than the yield ,the bond was issued at a premium of $500,000 above its face value of $5 million

You might be interested in
Raven Farms raises a substantial number of bees and uses the honey to produce its own skin healing cream. Raven Farms is situate
Paul [167]

Answer: B. provides more social benefits than it derives in private benefits.

Explanation:

Raven farms in this instance is deriving less private benefits than it gives social benefits.

Private benefits are those benefits that the producer gains as a result of their actions.

Social benefits on the other hand are the benefits gained by the producer as well as the benefits to society as well.

Raven's private benefits are the revenue it accrues from it's skin healing cream and yet those same bees still providing a societal service of pollinating Oakcreek Apple Orchard Apple. That shows that they are giving more social benefits than they are receiving.

4 0
1 year ago
Rath Company provided the following information:
Anit [1.1K]

Answer:

The correct answer is $8,316( Unfavorable) and $10,500 ( Favorable).

Explanation:

According to the scenario, the computation of the given data are as follows:

Actual Variable OH  AH × SVOR              SH × SVOR

$222,816          $57,200×$3.75 = $214,500     $60,000×$3.75 = $225,000

  Variable OH spending variance        Variable OH efficiency variance                                

      $214,500 - $22,816)                              $225,000 - $214,500

    = $8,316( Unfavorable)                            = $10,500 ( Favorable)

Hence, Variable OH spending variance  =  $8,316( Unfavorable)

And Variable OH efficiency variance = $10,500 ( Favorable)

7 0
2 years ago
A company developed the following per-unit standards for its product: 2 gallons of direct materials at $8 per gallon. Last month
alekssr [168]

Answer:

Direct material price variance= $1,200 favorable

Explanation:

Giving the following information:

Standard price= $8 per gallon

Last month, 3,000 gallons of direct materials were purchased for $22,800.

To calculate the direct material price variance, we need to use the following formula:

Direct material price variance= (standard price - actual price)*actual quantity

Actual price= 22,800/3,000= $7.6 per gallon

Direct material price variance= (8 - 7.6)*3,000= $1,200 favorable

5 0
2 years ago
An organization that has a relatively diverse employee population and makes an effort to involve employees from different gender
vovikov84 [41]

Answer: Pluralistic organization

Explanation: Pluralistic organization is an organization that is made up of diverse group of people,it may include people of different race, gender, Sociocultural background and makes efforts to ensure that they maintain harmony,pluralistic organization is essential for global Integration and it is practiced by most international organization like the United Nations, World health organization and business entities.

6 0
2 years ago
Will mark brainliest if answered!! due today!! this was in my business class so i chose business
leonid [27]

Answer:

Rochelle

Explanation:

Because Rochelle oil company is safer than lionel because if there was a leak the damage would be very big.

3 0
2 years ago
Other questions:
  • Ryan always skims through his lesson before a test. What is he doing by skimming?
    10·2 answers
  • A "credit score" is a three-digit number which rates how much businesses like you personally.
    7·1 answer
  • Maria purchased 100 shares of JAX stock for $30 per share and sold this same stock one year later for $29 per share. She paid co
    10·1 answer
  • Assume the total cost of a college education will be $345,000 when your child enters college in 18 years. You presently have $73
    8·1 answer
  • Tina's Track Supply's market-to-book ratio is currently 4.5 times and PE ratio is 10.5 times. If Tina's Track Supply's common st
    12·1 answer
  • Classy Clay has extremely creative employees who, in the opinion of the organization, keep the company ahead of the competition.
    10·1 answer
  • A manufacturing department has 50,000 EUP for units completed and transferred out and 4,500 EUP for units in ending inventory. M
    13·1 answer
  • Juan purchased shares in ABC company for​ $5,000 three years ago. During these three years he received​ $600 in dividends. He ju
    7·1 answer
  • The Leadership Grid includes 5 models of management. ______ is a model with the highest concern for production and the lowest co
    9·1 answer
  • The Technology department at Watkins Transit has a budgeted annual cost of $65,000. The department has a capacity to handle 250
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!