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Svetllana [295]
2 years ago
12

Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $800,000 of 10-year, 6% bo

nds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.
May 1. Issued the bonds for cash at their face amount.
Nov. 1. Paid the interest on the bonds.
Dec. 31. Recorded accrued interest for two months.
Journalize the entries to record the above selected transactions for the current year. If an amount box does not require an entry, leave it blank.
May 1
Nov. 1
Dec. 31
Business
1 answer:
igomit [66]2 years ago
8 0

Answer:

May 1

Dr Cash 800,000

Cr Bonds payable 870,000

Nov 1

Dr Interest expense 24,000

Cr Cash 24,000

Dec 31

Dr Interest expense 8,000

Cr Interest payable 8,000

Explanation:

Thomson Co Journal entries

May 1

Dr Cash 800,000

Cr Bonds payable 870,000

Nov 1

Dr Interest expense 24,000

Cr Cash 24,000

(800,000*6%*6/12)

Dec 31

Dr Interest expense 8,000

Cr Interest payable 8,000

(800,000*6%*2/12)

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Stephanie enters into a contract to work as a lifeguard at Tim’s Water Park for the summer in exchange for a weekly paycheck and
Valentin [98]

Answer:

The correct option is C,performed

Explanation:

Going by the fact that each party to the contract has played his or her role in the contract,contract can only be said to have been performed.

Performance implies that Stephanie has discharged duties as a lifeguard at Tim's Water Park as promised initially and Stephanie's performance has been appreciated with Tim's provision of paychecks and free admission as agreed.

All in all, both parties have acted in good faith and performed as appropriate.

3 0
2 years ago
Read 2 more answers
A population gathers plants and animals for survival. They need at least 360 units of​ energy, 300 units of​ protein, and 8 hide
stellarik [79]

Answer:

0 units of plants and 18 animals.

Explanation:

From the information provided, we know that this population must hunt at least 8 animals, to obtain the hides necessary to survive. When hunting such a quantity of animals, they would also obtain 160 units of energy and 200 units of protein. In terms of costs, this equals 80 hours of labor.

How can the population obtain the additional 200 units of energy and 100 of protein they need to live? They have two options: gather plants or keep hunting animals, of course, respecting the available quantities.

In the former case, at least 10 units of a plant would have to be gathered, this is the only way to obtain the additional units of energy and protein they are looking for. With 8 animals and 10 units of plants, they would have 460 units of energy, 300 of protein and 8 hides, and would have to invest 280 hours of labor.

If the population decided to reduce labor by gathering fewer plants (which is the activity that requires more time) but hunting the same amount of animals, it would obtain 430 units of energy, 290 units of protein and 8 hides. That means that it would not survive because it would not meet the requirement of 300 proteins.

Therefore, the only way to reduce hours of labor without risking survival would be gathering fewer plants but hunting more animals. Following this logic, the optimal amount would be 18 animals and 0 units of plants, as this would allow people to obtain the necessary resources to survive at the minimum cost in terms of labor. Furthermore, it would fit the physical limit of 27 units of plants and 23 animals. This combination would allow to obtain 360 units of energy, 450 of protein and 18 hides by investing only 180 hours of labor.

The attached image shows what happens when the quantity of animals is increased and that of plants is decreased until reaching the optimal combination of 18 animals and no units of plants.

4 0
2 years ago
Suppose there are 100 consumers in the computer speaker market, each with an identical demand curve given by Qi = 10 – 0.1P, whe
Mkey [24]

Answer:

Equilibrium Price = 40 ; Equilibrium Quantity = 600

Explanation:

Equilibrium is where : Market Quantity Demanded =  Market Quantity Supplied

Market Quantity Demanded = No. of Consumers x Individual Demand Curve

= N x Qi = 100 [10 - 0.1P] = 1000 - 10P  

Market Quantity Supplied = Qs [Given]  

So, Equilibrium is where :

1000 - 10P = 20 P - 200

1000 + 200 = 20P + 10P

1200 = 30P

P = 1200 / 30 = 40 [Equilibrium Price]

Equilibrium Quantity : Putting Equilibrium price value in Quantity demanded & quantity supplied;

Quantity Demanded = 1000 - 10 (40) = 1000 - 400 = 600

Quantity Supplied = 20 (40) - 200 = 800 - 200 = 600

5 0
2 years ago
The sensitivity of bank profits to changes in interest rates can be measured more directly using ▼ duration analysis credit rati
Pavel [41]

Answer:

The correct answer is Gap Analysis.

Explanation:

The deficiency analysis is a strategic planning tool that will help you understand where you are, where you want to go and how to get there.

One of the first steps for the transition or implementation of your management system is to check your management system with respect to the requirements of the standard. This is what is commonly known as deficiency analysis, also known as pre-audit.

The deficiency analysis is carried out at the beginning of the certification process to verify compliance with the requirements of the standards to be implemented. Each standard has specific requirements that must be met and are detailed in several clauses. If your system does not meet these requirements, you must solve this problem in order to get certified.

8 0
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Sloan [31]

Answer:

$532,000

Explanation:

The opportunity cost is the cost of the best option rejected.

In this case the option rejected was the investment project that would have returned a total fo 532,000

Therefore, the model 240 should produce a higher profit than 532,000 to reject his project.

The 310 model would have unused capacity as it has more capacity than model 240 but the company will not need to produce as much. So it is discarted from the calculation as it has inefficiency

3 0
2 years ago
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