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
sesenic
24 days ago
8

Washington inc. issued $705,000 of 6%, 20-year bonds at 98 on January 1, 2009. Through January 1, 2017, Washington amortized $8,

200 of the bond discount. On January 1, 2017. Washington Inc. retired the bonds at 102 (after making the interest payment on that date). What is the gain or loss that Washington Inc. would report for the retirement of this bond?
Business
1 answer:
soldi70 [3.1K]24 days ago
6 0

Response:

$20,000

Clarification:

At the issuance of the bond, the bond discount is calculated as follows:

= Value of Bonds issued -  [(Value of Bonds issued ÷ 100) × Issue price]

= 705,000 - [($705,000 ÷ 100) × 98]

= $705,000 - $690,900

= $14,100

Bond Payable equals $705,000

The unamortized bond discount is calculated as:

= Bond discount at issuance - Amortized amount

= $14,100 - $8,200

= $5,900

Redemption Value of Bond is determined by:

= Retired price of bonds × 7,050

= 102 × 7,050

= $719,100

Loss on retirement of the Bond is calculated as:

= Redemption Value of Bond - (Value of Bonds issued -  Unamortized bond discount)

= 719,100 - (705,000 - 5,900)

= 719,100 - 699,100

= $20,000

You might be interested in
Where could student researchers and/or student subjects find additional resources regarding the IRB approval process? (There may
marusya05 [3091]

Answer:

Faculty Advisor or Research Mentor

IRB Office

Explanation:

The Institutional Review Board (IRB) primarily ensures the protection of human subjects' rights and well-being in research conducted under its jurisdiction.

Obtaining IRB approval is mandatory before initiating any research.

Federal laws mandate that studies involving human participants must be reviewed by an IRB, which either approves or determines exemption of the project prior to beginning any research activities.

4 0
1 month ago
Read 3 more answers
Pattup Company makes 40,000 units per year of a part that it uses in the products it manufactures. The unit product cost of this
Katen [2907]
-$64000. The calculation of the net total occurs as follows: Direct material = $11.30, Direct labor = $22.70, Variable manufacturing overhead = $1.20, Fixed manufacturing overhead ($24.70 - $21.90) = $2.80. The total relevant cost is derived from the sum of the direct material, direct labor, variable manufacturing overhead, and fixed manufacturing overhead totaling $38.00. The total cost associated with manufacturing is derived from relevant cost per unit multiplied by the number of units plus the opportunity contribution margin lost, calculated to be $1,784,000. The overall cost for purchasing stands at $1,848,000. Thus, the net total equals the total cost of making minus the total cost of buying, amounting to -$64000.
4 0
18 days ago
Microsoft develops, produces, and markets a wide range of computer software, including the Windows operating system. On its rece
arsen [2965]

Respuesta:

     Provisión  

Débito        Crédito

                       $426,000

                 $ 85,000

$106,000

                 $405,000

Pérdida por deudas

Débito   -    Crédito

$85,000  

Explicación:

Al usar cuentas T, se puede observar que la cifra faltante en las provisiones netas es de $106,000, que corresponde a las cuentas de cancelación de deudas del año.

La provisión comenzó el año con $426,000 y se le suma 85 por gastos morosos, finalizando el año con un saldo de $405,000, por lo que en el medio se encuentra el monto de $106,000, como un valor de débito, lo que indica que la empresa eliminó esa cantidad como créditos incobrables.

3 0
26 days ago
Seventy new jobs are opening up at an automobile manufacturing plant, and 1000 applicants show up for the 70 positions. To selec
Free_Kalibri [3151]

Answer:

  • As explained below, with the individual’s score in the 0.03125 fraction of top candidates, they can anticipate securing a position.

Explanation:

Utilizing Chebyshev’s Theorem is key.

This theorem is valid for any dataset, irrespective of its shape.

Chebyshev's Theorem states that at least 1−1/k² of the data falls within k standard deviations from the mean.

For this data set, the specifics are:

  • mean: 60
  • standard deviation: 6
  • score: 84

The number of standard deviations that 84 is from the mean can be calculated as:

  • k = (score - mean) / standard deviation
  • k = (84 - 60) / 6 = 24 / 6 = 4

Hence, the individual’s score is 4 standard deviations above the mean.

How significant is this?

According to Chebyshev’s Theorem, at least 1−1/k² of the data is within k standard deviations from the mean. Setting k = 4 gives us:

  • 1 - 1/4² = 1 - 1/16 = 0.9375

  • This implies that half of 1 - 0.9375 exceed k = 4: 0.03125

  • Consequently, 1 - 0.03125 is below k = 4: 0.96875

With 70 job openings and 1,000 applicants, the ratio is 70/1,000 = 0.07, indicating the company seeks the top 0.07 of applicants.

Given the individual scores in the top 0.03125 of applicants, they can expect to obtain a job.

3 0
26 days ago
The downward slope of the demand curve again illustrates the pattern that as _____________ rises, _________________ decreases.
Nady [2956]
The right choice among the options provided is; "<span>c. price, quantity demanded".
</span>
The demand curve is a graphical tool that depicts the relationship between the price of a good and the quantity demanded. Generally, the price appears on the vertical axis to the left, while the quantity demanded is represented along the horizontal axis. There exists an inverse relationship between these two variables, indicating that as the price goes up, the quantity demanded decreases.
3 0
1 month ago
Read 2 more answers
Other questions:
  • Andrew has been asked to estimate future cash flows for his company. He is having a hard time remembering how to estimate future
    12·1 answer
  • In determining whether to legally protect his song "Gotta Give It Up," Marvin Gaye followed the rule of thumb of ___________.
    13·1 answer
  • Maury and Bev have saved all their lives and they have been able to pay off their mortgage on their home. Bev is getting elderly
    7·1 answer
  • Phil Frugal has been saving his pennies since he was 5 years old. He is now 45 and deposits his savings in a bank. His pennies t
    8·1 answer
  • The market for fertilizer is perfectly competitive. Firms in the market are producing output but are currently making economic l
    7·2 answers
  • Carol is planning her personal finances. She has divided her plan into various short-term and long-term goals. Which action shou
    6·1 answer
  • Describe the different types of instructional characteristics that this program should have for learning and transfer to occur a
    9·1 answer
  • If the best operating level of a piece of equipment is at a rate of 400 units per hour and the actual output during an hour is 3
    9·1 answer
  • At john deere, thousands of people both inside and outside the organization make decisions about target segments, branding, prod
    9·1 answer
  • Suppose you have some extra money to invest for 1 year. After a​ year, you will need to sell your investment to pay tuition. Aft
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!