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KonstantinChe [14]
2 years ago
5

Ferris Wheeler Co. issued $10,000 of bonds on January 1, 2018. The bonds pay interest semiannually. This is a partial bond amort

ization schedule for the bonds.
Effective Decrease in Outstanding
Payment Cash interest balance balance
1 400 409 9 9080
2 400 409 9 9089
3 400 409 9 9098
4 400 9107
What is the interest expense on the bonds for the year ended December 31, 2019?
a. $819
b. $818
c. $800
d. $809
Business
1 answer:
Rus_ich [418]2 years ago
7 0

Answer:

$818

Explanation:

In order to calculate interest expense on the bonds for the year ended December 31, 2019, we have to add the interest expense that occurred in the year 2019. As Ferris Wheeler Co. pays interest semiannually with the amount of $409. Two semiannual payment would be

Interest Expense for Dec 31,2019 = $409 +$409

Interest Expense for Dec 31,2019 = $818

 

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The fair value of a leasee's asset is an important criterion in the decision making of whether to approve a finance lease. Leasee's term of payment should also be greater than 75% of the economic life of the property being leased. 
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The accountant for Walter Company is preparing the company's statement of cash flows for the fiscal year just ended. The followi
Strike441 [17]

Answer:

$25,400

Explanation:

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

The movement in the retained earnings balance may be expressed as

Opening balance + net income - cash dividend paid = closing retained earnings balance

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Cash dividend paid = $49,000 - $23,600

= $25,400

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1 year ago
Gina Robinson, Inc. (GRI) GRI management has decided to reinvent the culture of the organization. Previously, the company tried
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Answer:

C) Telecommuting

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1 year ago
Meyer Inc's assets are $625,000, and its total debt outstanding is $185,000. The new CFO wants to establish a debt ratio of 55%.
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2 years ago
At the beginning of the current year, Bard Corporation had 400,000 shares of $1 par common stock outstanding and had retained ea
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Answer:

b. $14,660,000

Explanation:

The computation of retained earnings at the end of the year is shown below:-

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