Answer:
Our company had to undergo many changes during the lock down. We started working from home rather than going to office, not all the employees had computers or internet connection, so the HR department had to send computer to employees and they arranged the internet connection by themselves. It was bit uneasy to work from home in the beginning but we all adapted gradually and everything became normal.
Also, we had acquire new projects as the we were not getting work from some of the old projects.
bruin manufacturing has expected ebit of $26,000 in perpetuity. a tax rat 35% and debt equity ratio of 60 percent. the firm has $60,000 in outstanding debt at an interest rate of 8percent and its wacc is 12 percent. what is the value of the firm according to m&m proposition 1 with taxes?. should bruin change its debt-equity ratio if the goal is to maximize the value of the firm? explain.
The value of the firm according to M&M proposition 1 with taxes will be as follows,
WACC = .12 = (100/160)RE+ (60/160)(.08)(.65) ;RE= .1608
RE= .1608 = RU+ (RU– .08)(.6)(.65) ;RU= .1381
VU= EBIT(1 – t)/RU= ($26,000)(.65)/.1381 = $122,348.96
VL= VU+ Dt = $122,348.96 + .35D = $140,833.33
Or
VL= EBIT(1 – t)/WACC = ($26,000)(.65)/.12
= $140,833.33
What is M&M proposition?Miller and Modigliani theory mentions two propositions. Proposition I state that the market value of any firm is independent of the amount of debt or equity in capital structure. Proposition II states that the cost of equity is directly related and incremental to the percentage of debt in the capital structure.
B) Applying M&M Proposition with tax the capitals, the firm has increased its value by issuing debt. As long as M&M Proposition holds, that is, there are no bankruptcy costs and so then the company should continue to increase its debt equity ratio to maximize the value of the firm.
Thus, the value of the firm according to M&M proposition 1 with taxes will be $140,833.33.
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You Save Bank has a unique account. If you deposit $9,750 today, the bank will pay you an annual interest rate of 6 percent for 3 years, 6.6 percent for 2 years, and 7.3 percent for 6 years. How much will you have in your account in 11 years
Amount in 11 years =Deposit Today*(1+Rate 1)^3*(1+Rate 2)^2*(1+rate 3)^6=9750*(1+6%)^3*(1+6.6%)^2*(1+7.3%)^6
=20138.86
Job, Career, Lifestyle, Economy, Global Economy, Job Market,
Team, Outsourcing, Telecommuting all use in a paragraph
Answer:
The answer to this question is given below in the explanation section.
Explanation:
Corona pandemic impacted all the businesses and the global economy negatively. As corona pandemic begin and spread all over the world, people lost their jobs and this pandemic impacted their career such as some airline business closes their offices and services. Businesses have started working remotely and outsourcing their services online. People and businesses shifted toward the online job market and hired from freelancing websites to make team to run business. People that are working online, they communicate virtually with the business owner/manager through telecommuting services and discuss business deliverables, etc. This pandemic also affected the lifestyle of people all over the world.
borrower june walks into your office. She is looking to purchase a home. She is working with a real estate agent and has already found a home she's very interested in. She voluteers that she has three kids. It's $500,000 which is a very high loan amount in the area that you serve. She offers that she makes $9,500 gross a month from her job. What are two questions you should avoid asking based on ECOA? and what are three things you should noit consider when taking June's loan application
Since June's debt-to-income ratio is a better indicator of her ability to repay the loan, it is not required to consider her monthly wage when assessing her loan application.
What is a loan?In finance, a loan is the lending of money by one or more someone, social group, or other entities to other individualists, organizations, etc. The recipient receives a debt and is usually liable to pay interest on that debt.
Although June may earn a good living, it's also feasible that she owes a sizable amount of money. The amount of money she makes each month does not accurately reflect her ability to pay off the debt.
The cost of the property that June is interested in buying shouldn't be taken into account when evaluating her loan application because it is unrelated to either her income or the monthly payment that she would be expected to make. The cost of the property and her ability to repay the loan installments are unrelated.
Therefore, By June's debt-to-income ratio is a better indicator of her ability to repay the loan
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The CJ Company reported that during the last month 50,000 units were completed and transferred out, and 3,600 units were in ending work in process. If the ending work in process inventory was 75% complete as to direct materials and 25% complete as to conversion costs, how much would the equivalent units of production be for the direct materials for the last month
Answer:
52,700 units
Explanation:
The data allows us to use the Weighted Average Method only
equivalent units of production
direct materials = 50,000 x 100 % + 3,600 x 75% = 52,700 units
Therefore,
the equivalent units of production for direct materials would be 52,700 units
Kiley Corporation had these transactions during 2022. Analyze the transactions and indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity.
a. Purchased a machine for $30,000, giving a long-term note in exchange.
b. Issued $50,000 par value common stock for cash.
c. Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
d. Declared and paid a cash dividend of $13,000.
Answer:
A. Noncash investing and financing activities
B. Financing activities
C. Noncash investing and financing activities
D. Financing activities
Explanation:
To Analyze the transactions and indicate whether each transaction is AN OPERATING ACTIVITY, INVESTING ACTIVITY, FINANCING ACTIVITY, OR NONCASH INVESTING AND FINANCING ACTIVITY
A. Based on the information given the transaction is a NONCASH INVESTING AND FINANCING ACTIVITIES
B. Based on the information given the transaction is a FINANCING ACTIVITIES
C. Based on the information given the transaction is a NONCASH INVESTING AND FINANCING ACTIVITIES
D.Based on the information given the transaction is a FINANCING ACTIVITIES
a. Purchased a machine for $30,000, giving a long-term note in exchange, this transaction is an investing activity because it involves the acquisition of a long-term asset (machine) in exchange for a long-term note.
b. Issued $50,000 par value common stock for cash, this transaction is a financing activity because it involves the issuance of common stock in exchange for cash.
c. Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000,this transaction is a non-cash investing and financing activity because it involves the conversion of bonds into common stock.
d. Declared and paid a cash dividend of $13,000, This transaction is a financing activity because it involves the distribution of cash to shareholders as a dividend.
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Michigan State Figurine Inc. (MSF) sells crystal figurines to Spartan fans. MSF buys the figurines from a manufacturer for $10 per unit. They send orders electronically to the manufacturer, costing $20 per order and they experience an average lead time of 8 days for each order to arrive from the manufacturer. Their inventory carrying cost is 20%. The average daily demand for the figurines is 2 units per day. They are open for business 250 days a year. Answer the following questions:
Required:
a. How many units should the firm order each time? Assume there is no uncertainty at all about the demand or the lead time.
b. How many orders will it place in a year?
c. What is the average inventory?
d. What is the annual ordering cost?
e. What is the annual inventory carrying cost?
Answer:
Follows are the solution to the given points:
Explanation:
Given:
\(cost= \$10 / \ unit \\\\s= \$20 / \ order \\\\Lt= 8 / days \\\\H= 20 \% \ of \ cost \\\\\)
\(= \frac{20}{100} \times 10\\\\= \frac{200}{100}\\\\= 2 \ \frac{unit}{year}\)
\(d= 2 \ \frac{units}{day}\\\\n= 250 \ \frac{days}{year}\\\\D=d\times n \\\\\)
\(=2 \times 250\\\\=500 \ \frac{units}{day}\)
For point a:
\(\to EOQ=\sqrt{\frac{2DS}{H}}\)
\(=\sqrt{\frac{ 2 \times 500 \times 20 }{2}} \\\\=\sqrt{500 \times 20}\\\\=\sqrt{1,000}\\\\=100 \ units\)
For point b:
\(\to N=\frac{D}{Q} =\frac{500}{100} =5 \ orders\)
For point c:
Calculating the average inventory:
\(\to \frac{Q}{2} =\frac{100}{2} =50 \ units\)
For point d:
Calculating the annual ordering cost:
\(\to \frac{D}{Q} \times S\\\\\)
\(=\frac{500}{100} \times 20\\\\ = 5\times 20 \\\\= \$100\)
For point e:
Calculating the annual inventory carrying cost:
\(\to \frac{Q}{2} \times H =\frac{100}{2} \times 2=\$ 100\)
Recovery of Previously Written Off A/R
September 10-King pays the $200 previously
written off as uncollectible.
Prepare both journal entries.
Answer and Explanation:
The journal entries are shown below
On Sep 10
Account receivable - king $200
To Bad debt expense $200
(Being the reinstate previously written off account receivable is recorded)
Here account receivable is debited as it increased the assets and credited the bad debt expense as it decreased the expenses
On Sep 10
Cash Dr $200
To Account receivable - king $200
(Being cash collection is recorded)
Here the cash is debited as it increased the assets and account receivable is credited as it decreased the assets
When Holly entered the competition, she had a __percent chance of winning.
When Holly entered the competition, she had a __percent chance of losing.
When Lefty entered the competition, he had a __percent chance of winning.
When Lefty entered the competition, he had a __percent chance of losing.
By the October 6 and 7 round, Holly had ___percent chance of winning.
By the October 8 round, Holly had a ___percent chance of winning.
Answer:
PERCENT CHANCE = ((No of Probable Outcome) / (Total no of population)) * 100
1. When Holly entered the competition , she had a _____ percent chance of winning.
No of probable outcomes = 1
Total no of population = 8
Percent chance = (1/8) * 100 = 12.5%
2. When Holly entered the competition , she had a _____ percent chance of losing.
No of probable outcomes = 7
Total no of population = 8
Percent chance = (7/8) * 100 = 87.5%
3. When Lefty entered the competition , he had a _____ percent chance of winning.
No of probable outcomes = 1
Total no of population = 8
Percent chance = (1/8) * 100 = 12.5%
4. When Lefty entered the competition , he had a _____ percent chance of losing.
No of probable outcomes = 7
Total no of population = 8
Percent chance = (7/8) * 100 = 87.5%
5. By the October 6 & 7 round, Holly had _____ percent chance of winning.
No of probable outcomes = 1
Total no of population = 4
Percent chance = (1/4) * 100 = 25%
6. By the October 8 round, Holly had _____ percent chance of winning.
No of probable outcomes = 1
Total no of population = 2
Percent chance = (1/2) * 100 = 50%
1.Explain where the market equilibrium occurs.
2.How do we show equilibrium graphically?
3.Share an example from your own experience when the market was not in equilibrium for a product or service.
4.Explain why the market was out of equilibrium (what caused it to be out of equilibrium) and what needed to be done to bring the market back to equilibrium.
Answer:
because they are well known
Sanborn Company has 10 employees, who earn a total of $2,100 in salaries each working day. They are paid on Monday for the five-day workweek ending on the previous Friday. Assume that year ended December 31, is a Wednesday and all employees will be paid salaries for five full days on the following Monday. The adjusting entry needed on December 31 is:
Answer:
Journal entry to record accrued wages on December 31, 202x
Dr Wages expense 1,260
Cr wages payable 1,260
Journal entry to record wages expense on Friday, January 2
Dr Wages expense 840
Cr wages payable 840
Journal entry to record payment of wages on Monday, January 5
Dr Wages payable 2,100
Cr Cash 2,100
What is the total cost of ownership
since noah is worried about completing his research project on time, the most helpful thing he could do is to choose a topic that
a. is broad
b. he has no interest in
c. is easy to research
d. he knows very little about
Answer:
c
Explanation:
They since Noah is worried about completing his research project on time, the most helpful thing he could do is to choose a topic that is easy to research. Thus, option (c) is correct.
What is research?The term “research” refers to generating and creating new ideas with the help of previous studies and phenomena. Using primary valid sources that have already been published on a subject that is related For example, journals, articles, population data, and historical events are based.
According to the case, Noah is worried about completing his research project. It was the necessary to decide the appropriate significance topic related to the research interested. The topic was the known to the easy to the search a matter and the completing her project.
As a result, the significance of the research are the aforementioned. Therefore, option (c) is correct.
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Rooms booked well in advance may receive a lower rate than those rooms booked at
the last minute. What term best refers to this concept?
ADR
Orack rate
yield management
accounting services
Answer:
Explanation:
The answer is c. 200 rooms
Which best explains why there are many job opportunities in the Lodging pathway?
Answer:
The pathway includes low-paying jobs.
Explanation:
Edge2021
Paul’s grocery received 1,000 pounds of onion at $0.11 per pound. On the average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a makeup rate of 180% based on cost.
The selling price per pound for onions to obtain a makeup rate of 180% based on cost is $2.0350.
What is the selling price per pound for onions?Total Cost = Quantity * Cost per pound
Total Cost = 1,000 pounds * $0.11/pound
Total Cost = $110
Spoilage Quantity = 3% of Quantity
Spoilage Quantity = 3% of 1,000 pounds
Spoilage Quantity = 0.03 * 1,000 pounds
Spoilage Quantity = 30 pounds
Effective Quantity = Quantity - Spoilage Quantity
Effective Quantity = 1,000 pounds - 30 pounds
Effective Quantity = 970 pounds
Makeup Rate = 180%
Selling Price per pound:
= (Total Cost * Makeup Rate) / Effective Quantity
= ($110 * 1.80) / 970 pounds
= $2.03505/pound.
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What is a TRUE statement about who is affected by the stock market? A. No one is affected by the stock market. B. Only big companies are affected by the stock market. C. All people are affected by the stock market. D. Only investors are affected by the stock market.
Answer: c is the answer everyone if affected by the stock market. Inflation and other factors such as bank crashes and business going out of business is bad for all
Explanation:
Should underperforming restaurants be closed or sold?
Answer:
sold
Explanation:
Underperforming restaurants are those restaurants which does not perform well. The restaurant does not run properly and no people or less people visits the restaurant for eating.
This can be due to several factors. The restaurant's location may not be good, the restaurant may not provide good quality and tasty food, or people might not find their required menu in that restaurant. All these factors leads to less people visiting the restaurant and less revenue generation.
In such a case, the owner of the restaurant must sell the restaurant to some other party so that he does not undergo any losses. By selling the property he will get some amount of his investment which he could utilize in his further projects.
Also by selling the restaurant, the employees of that restaurant will not go out of job and can feed their family.
So, the restaurant should be sold.
Misunderstanding of the purpose of the change. choosing a country of your experience, what do you think might have aided those directors to refuse the transfer?
Answer:
i think it might be corruption
Explanation:
cuz it's a lot nowadays and those directors are ofc not poor I can give a more reliable answer if ur question was right...
More than are located in Georgia. production companies A notable film school in filmmakers and hosts an annual film festival. educates future Also, the West Georgia Technical College in produces several TV series. Georgia State University has the largest film- production program
CMII-sponsored workforce research helped convince state legislators to establish the Georgia Film Academy, which only a small number of Georgia State students participate in each year.
The University System of Georgia's largest and oldest film program is offered at Georgia State University. Nearly every local studio employs former students of Georgia State. Students at Georgia State have a variety of methods to interact with the film and television production sector.
Some kids figure out how to get jobs as extras in films. The experience is entertaining and a great introduction to the reality of working on a sound stage, while it is not very beneficial as job training.
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If capital is held constant, what happens when the price that firm receives for its goods increases?
Answer:
Then the constant increases?
January 4—Sold two ice cream systems to Day Dreamer’s Ice Cream. The estimated direct labor is $8,200.00. The estimated direct material is $3,350.00. The estimated indirect material is $350.00. Day Dreamer’s is to be billed in the amount of $20,925.00 on account. A check for $5,000.00 will be collected as a deposit against that sale. The start date will be January. The date promised will be January 23. Assign the contract to Job 74.
January 4th sold two ice cream systems to Day Dreamer's Ice Cream. THe estimated direct labor is $8,000.00. The estimated direct material is $2,250.00. The estimated indirect material is $350.00. Day Dreamers is to be billed in the amount of $20,925.00 on account. A check for $5,000.00 will be collected as a deposit against that sale. The start date will bew January 7th. The date Promised will be January 23rd.
January 19—Apply from direct materials requisition $2,800.00 of direct materials. Apply from indirect materials requisition $325.00 of indirect materials. Apply from time cards s $7,950.00 of direct labor to Job 74 completing the job.Applied factory overhead is based on 25% of direct labor cost. Transfer the completed job to the COGS account from Direct Material and Indirect Material and Factory Overhead accounts. When making the journal entry for applying direct labor debit COGS for the gross pay and credit FWT Payable and FICA Tax Payable for the appropriate amounts with the net pay going to Salaries Payable
what would all the monthly journal entries be?
When the job is completed, the costs incurred in the Work in Progress account will be transferred to the Finished Goods account.The following are the monthly journal entries:January 4, 20XX: Sold two ice cream systems to Day Dreamer's Ice Cream and the total amount billed on account is $20,925.00. Cash collected on account was $5,000.00.
To record sales on account:
Debit: Accounts Receivable: $20,925
Credit: Sales Revenue: $20,925
To record cash received on account
:Debit: Cash: $5,000
Credit: Accounts Receivable: $5,000
January 7, 20XX: Job 74 began and the direct and indirect materials are requisitioned and job order costs were incurred.
To record the beginning of the job, the following entry will be made:
Debit: Work in Progress: $5,800
Credit: Direct Materials: $2,250
Credit: Indirect Materials: $350
Credit: Direct Labor: $8,000
January 19, 20XX: Direct materials of $2,800 and indirect materials of $325 were used and direct labor costs were incurred amounting to $7,950.00.
To record the use of direct materials:
Debit: Work in Progress: $2,800
Credit: Direct Materials: $2,800
To record the use of indirect materials:Debit: Work in Progress: $325
Credit: Indirect Materials: $325To record the payroll expenses:
Debit: Work in Progress: $7,950
Credit: Salaries Payable: $6,137.50
Credit: FICA Taxes Payable: $612.50
Credit: Federal Withholding Taxes Payable: $200
Credit: State Withholding Taxes Payable: $1,000
To record the application of overhead:Debit: Work in Progress: $1,987.50
Credit: Manufacturing Overhead: $1,987.50.When the job is completed, the costs incurred in the Work in Progress account will be transferred to the Finished Goods account.
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true/false. A safe dollar is always worth less than a risky dollar because the rate of return on a safe investment is generally low and the rate of return on a risky investment is generally high.
False. A safe dollar is not always worth less than a risky dollar. The value of a safe investment and a risky investment depends on many factors.
For instance, a U.S. Treasury bond, which is seen as a secure investment because it is backed by the U.S. government, may have a poor rate of return. A hazardous investment like a stock, on the other hand, might provide a higher rate of return, but it also carries a higher amount of risk because stock prices are prone to large changes.The value of a safe or risky dollar ultimately depends on the investor's investment objectives and risk tolerance, as well as the state of the market. Others may be ready to take on more risk in exchange for the possibility of bigger profits, while some investors may favour secure investments that provide stability and security.
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"The AFS Investments account consists of two investments in debt securities purchased in a prior year. CU DENVER elects to employ a fair value method for year-end valuation.
1) Bonds issued by PackCO - Fair market value at 12/31/22 = $160,000.
2) Bonds issued by TerpCo. - Fair market value at 12/31/22 = $140,000. "
The beginning balance of the AFS Investment account is $250,000.
How would I record these within the Adjusting Entries sheet? I believe that it will be debited to AFS and credited to AOCI, but I don't know how to calculate the value of this.
Based on the given information, it can be concluded that CU DENVER has invested in debt securities and has chosen to value them using the fair value method at year-end.
How to record?
To record the fair value adjustments of the AFS investment account, CU DENVER would debit the account for the difference between the fair market value and the carrying value of each security, and credit the accumulated other comprehensive income (AOCI) account.
In this case, the debit to the AFS investment account would be $300,000 ($160,000 + $140,000) - $250,000 (the beginning balance) = $50,000. The credit to the AOCI account would also be $50,000. This adjustment reflects the change in the fair value of the investments and is necessary to ensure that the investments are accurately valued on the balance sheet.
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The job of president of the United States falls under the Foreign Service pathway of the Government and Public Administration cluster.
True, The President of the United States has a position that comes within the Government and Public Administration cluster's Foreign Service track.
What does a US Foreign Service agent do?Foreign Service Officers are crucial connections with other governments, interact with foreign populations, inform and influence U.S. foreign policy, and advance American interests abroad. They also work on issues pertaining to the safety and security of American citizens wherever they may be.
What sets the State Department's civil service and foreign service apart?Employees of the Foreign Service represent America abroad while those of the Civil Service assist the mission from Washington, D.C. or other locations around the country. Foreign Service workers both live and work abroad.
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A computer glitch (of all things) was discovered at The Baruch Academic Computing Center, and it was determined that only 1,150 students were actually served. If the design capacity of the system is 1,800 students per semester and the highest number of students who can actually go to their 93. 18 orientation session is 1,200, what is the utilization and efficiency of the system?
Answer:
Utilization = 0.6388 = 63.88%
Efficiency = 0.9583 = 95.83%.
Explanation:
So, in this question we are given the following parameters or information or data that is going to assist us in solving this question/problem and they are;
=> "only 1,150 students were actually served. If the design capacity of the system is 1,800 students per semester''
=> " the highest number of students who can actually go to their orientation session is 1,200".
(A). Thus, the Utilization of the system= real capacity/ designed capacity.
=> 1150/1800 = 0.6388.
Hence, 0.6388 × 100% = 63.88%
(B). Efficiency of the system = real capacity/ designed capacity .
=> 1150/1200 = 0.9583.
Therefore, 0.9583 × 100% = 95.83%.
Answer:
Utilization = 63.88%
Efficiency = 95.83%
Explanation:
Given that:
The actual usage number of students served were 1150 students
The Design Capacity of the system is 1,800 students per semester
The highest number (effective capacity ) for the orientation session is 1,,200
The objective here is to determine the utilization and efficiency of the system.
Using the formula
Utilization of the system = actual usage number / design capacity of the system
Efficiency of the system = actual usage number / effective capacity for the orientation session
Therefore; we have
Utilization = 1150/1800 = 0.6388
= 63.88%
Efficiency = 1150/1200 = 0.9583
= 95.83%
All of the following are factors considered when evaluating municipal revenue bond credit risks EXCEPT:
A] Quality of management
[B] Competing facilities
[C] Interest rate movements
[D] Coverage ratios
All of the following are factors considered when evaluating municipal revenue bond credit risks Except Interest rate movements.
What is municipal revenue bond?A revenue bond is a particular sort of municipal bond that differs from other types of bonds in that it guarantees repayment entirely from revenues generated by a specific revenue-generating entity linked to the purpose of the bonds, as opposed to from taxes. Municipal government operations and public works initiatives, such as the construction of new schools or the upkeep of city sewer systems, are funded in part by municipal bonds issued by local and state governments. Municipal bonds, often known as "munis," are debt securities issued by states, cities, counties, and other local bodies to pay for ongoing expenses as well as to fund capital projects like constructing schools, roadways, or sewage systems. Among municipal bonds, revenue bonds are one kind.To learn more about municipal revenue bond refer to:
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Which of the following is something that companies are likely to engage in
with famous, well-publicized sports teams?
A. Direct marketing
B. Customer frequency programs
c. Merchandising
D. Sponsorship
SUBMIT
6. Why do employees often feel that appraisals “highlight all the bad things they did all year?”
Answer:
Explanation:
Performance appraisal is the method by which the performance of an employee is determined by the employer. It's main purpose is to eliminate the performance deficiencies of the employees. It is a part of career management.
The appraisals stress on the need to have more efficient employee and the deficiencies of the employee pointed out by the appraisal are overcome by the employee by taking the required training. Thus the employees feel that appraisals highlight all the bad things they did al year.
[The following information applies to the questions displayed below.]
On January 1, 2024, Splash City issues $320,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year.
Assuming the market interest rate on the issue date is 9%, the bonds will issue at $293,938.
2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024.
(Interest Expense does not equal 12800)
To record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024, we need to consider the issuance of the bonds and the accrual of interest expense.
1. Bond Issue on January 1, 2024:
Date Account Debit Credit
--------------------------------------------------------
January 1, 2024 Cash $293,938
Bonds Payable $320,000
To record the issuance of $320,000 face value bonds at a discounted price of $293,938.
2. Semiannual Interest Payment on June 30, 2024:
Date Account Debit Credit
--------------------------------------------------------
June 30, 2024 Interest Expense $14,400
Cash $14,400
To record the semiannual interest payment ($320,000 * 8% / 2 = $12,800) for the period from January 1, 2024, to June 30, 2024.
3. Semiannual Interest Payment on December 31, 2024:
Date Account Debit Credit
--------------------------------------------------------
December 31, 2024 Interest Expense $14,400
Cash $14,400
To record the semiannual interest payment ($320,000 * 8% / 2 = $12,800) for the period from July 1, 2024, to December 31, 2024.
Please note that the interest expense amount mentioned in the question might be incorrect. Based on the information provided, the interest expense should be $12,800 for each semiannual interest payment, resulting in a total of $25,600 for the year 2024.