VL
Vivian Luong
Answers (10)
VL
Answered
Hoosier Co.sold $300, 000 of 10% bonds for $311, 600.Each $1, 000 bond carried ten warrants and each warrant allowed the holder to acquire one share of $10 par value common stock for $25 a share.After the issuance of the securities, the bonds were quoted at 103.5 and each warrant was quoted at $9.
Required:
Prepare the entry to record the sale of the bonds.
Required:
Prepare the entry to record the sale of the bonds.
On Aug 01, 2024
Cash 311,600 Discount on 13,328300,000 Bonds Payable 24,928\begin{array} { l l l } \text { Cash } & 311,600 & \\ \text { Discount on } & 13,328 & 300,000 \\ \text { Bonds Payable } & & 24,928 \end{array} Cash Discount on Bonds Payable 311,60013,328300,00024,928
$300,000×1.035($300,000×1.035)+(300×10×$9)×$311,600=$286,672\frac { \$ 300,000 \times 1.035 } { ( \$ 300,000 \times 1.035 ) + ( 300 \times 10 \times \$ 9 ) } \times \$ 311,600 = \$ 286,672($300,000×1.035)+(300×10×$9)$300,000×1.035×$311,600=$286,672 to bonds payable
$300,000−$286,672=$13,328\$ 300,000 - \$ 286,672 = \$ 13,328$300,000−$286,672=$13,328 to discount
300×10×$9(300,000×1.035)+(300×10×$9)×$311,600=$24,928\frac { 300 \times 10 \times \$ 9 } { ( 300,000 \times 1.035 ) + ( 300 \times 10 \times \$ 9 ) } \times \$ 311,600 = \$ 24,928(300,000×1.035)+(300×10×$9)300×10×$9×$311,600=$24,928 to warrants
$300,000×1.035($300,000×1.035)+(300×10×$9)×$311,600=$286,672\frac { \$ 300,000 \times 1.035 } { ( \$ 300,000 \times 1.035 ) + ( 300 \times 10 \times \$ 9 ) } \times \$ 311,600 = \$ 286,672($300,000×1.035)+(300×10×$9)$300,000×1.035×$311,600=$286,672 to bonds payable
$300,000−$286,672=$13,328\$ 300,000 - \$ 286,672 = \$ 13,328$300,000−$286,672=$13,328 to discount
300×10×$9(300,000×1.035)+(300×10×$9)×$311,600=$24,928\frac { 300 \times 10 \times \$ 9 } { ( 300,000 \times 1.035 ) + ( 300 \times 10 \times \$ 9 ) } \times \$ 311,600 = \$ 24,928(300,000×1.035)+(300×10×$9)300×10×$9×$311,600=$24,928 to warrants
VL
Answered
Parsa Incorporated reported the following results from last year's operations: 
At the beginning of this year, the company has a $1,100,000 investment opportunity with the following characteristics:
Last year's return on investment (ROI) was closest to:
A) 10.0%
B) 5.0%
C) 50.0%
D) 64.3%
At the beginning of this year, the company has a $1,100,000 investment opportunity with the following characteristics: Last year's return on investment (ROI) was closest to:A) 10.0%
B) 5.0%
C) 50.0%
D) 64.3%
On Jul 30, 2024
A
VL
Answered
A diagram of an individual's utility from income will be a line with an increasing slope if the individual is risk-averse.
On Jul 02, 2024
False
VL
Answered
Goodwill
A) can be recorded when generated internally.
B) can be subdivided and sold in parts.
C) can only be identified with the business as a whole.
D) need not be tested annually for impairment.
A) can be recorded when generated internally.
B) can be subdivided and sold in parts.
C) can only be identified with the business as a whole.
D) need not be tested annually for impairment.
On Jun 30, 2024
C
VL
Answered
Which of the following statements is true about the effects of illegal immigration in the United States?
A) Illegal immigrant workers displace domestic-born workers on a one-for-one basis.
B) Illegal immigration has a negative fiscal impact that falls most heavily on state and local governments.
C) Illegal immigration negatively affects wages and the standard of living for all domestic-born workers.
D) All of the other answers are true.
A) Illegal immigrant workers displace domestic-born workers on a one-for-one basis.
B) Illegal immigration has a negative fiscal impact that falls most heavily on state and local governments.
C) Illegal immigration negatively affects wages and the standard of living for all domestic-born workers.
D) All of the other answers are true.
On Jun 02, 2024
B
VL
Answered
What are the limitations of using variable costing?
On May 31, 2024
Variable costing is not an acceptable basis for either external reporting or tax reporting.
VL
Answered
A firm that sells a car for $30,000 gets producer surplus of $30,000.
On May 02, 2024
False
VL
Answered
The total amount of indirect factory expenses that should be allocated to the Assembly Department for the current period is:
A) $48,000.
B) $55,000.
C) $103,000.
D) $104,000.
E) $110,000.
A) $48,000.
B) $55,000.
C) $103,000.
D) $104,000.
E) $110,000.
On May 01, 2024
C
VL
Answered
Vondran Clinic uses patient-visits as its measure of activity. During December, the clinic budgeted for 3,600 patient-visits, but its actual level of activity was 3,100 patient-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for December:Data used in budgeting:
Actual results for December:
Required:Prepare the clinic's flexible budget performance report for December. Label each variance as favorable (F) or unfavorable (U).
Actual results for December: Required:Prepare the clinic's flexible budget performance report for December. Label each variance as favorable (F) or unfavorable (U).On Apr 30, 2024
VL
Answered
A company uses the weighted average method for inventory costing.At the start of a period the production department had 20,000 units in beginning Work in Process inventory which were 40% complete; the department completed and transferred 165,000 units.At the end of the period,22,000 units were in the ending Work in Process inventory and are 75% complete.The production department had conversion costs in the beginning goods is process inventory of $99,000 and total conversion costs added during the period are $726,825.Compute the conversion cost per equivalent unit.
A) $4.40.
B) $4.76.
C) $4.19.
D) $4.55.
E) $4.61.
A) $4.40.
B) $4.76.
C) $4.19.
D) $4.55.
E) $4.61.
On Apr 28, 2024
D