Consider an 8% coupon bond selling for $953.10 with three years until maturity making annual coupon payments. the interest rates

Answer:

A

Explanation:

Multidomestic

The term multidomestic refers to a collection of strategies employed by companies that function in multiple countries simultaneously. When firms expand their operations internationally, they often behave differently from their larger rivals, with many opting for a multidomestic approach. A multidomestic enterprise tailors its strategies according to each individual market it serves.

A prime instance of a multidomestic firm is Nestlé. Nestlé adopts a distinct marketing and sales strategy for every market it enters, adjusting its offerings to align with local preferences by providing various products to different regions.

Response:

Allocated MOH= $274,320

Clarification:

Providing the following details:

The budgeted factory overhead was $266,400, while the expected machine-hours amounted to 18,500. The actual machine-hours totaled 19,050.

Initially, we must determine the estimated rate for manufacturing overhead. We can then allocate the overhead accordingly.

To find the estimated overhead rate for manufacturing, we should employ the following equation:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 266,400/18,500= $14.4 per machine-hour.

Now we can proceed to allocate the overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 14.4*19,050= $274,320

Answer:

Explanation:

Current liabilities refer to obligations due within one year or less.

The classification is as follows:

a. A note payable for $100,000 due in 2 years. = Not classified as a current liability, as it is due in 2 years and classified as long-term liability.

b. A 10-year mortgage of $300,000 to be paid in ten annual payments of $30,000. = Only the first payment is a current liability; the rest are long-term liabilities.

c. An interest payment of $15,000 on the mortgage. = This is a current liability since it is due within one year.

d. Accounts payable of $60,000. = This is also a current liability because it is due within one year.

Current liabilities are recorded on the liability side of the balance sheet.

Answer:

A.

a. Dr Cash $2,300,000

Cr Notes payable $2,300,000

b. Dr Equipment $98,000

Cr Cash $98,000

c.Dr Inventory $35,000

Cr Accounts payable $35,000

D. Dr Repair expense $62,000

Cr Cash $62,000

e. Dr Cash $390,000

Cr Unearned revenue $390,000

f. Dr Accounts receivable $700

Cr Sales revenue $700

Dr Cost of of goods sold $400

Cr Inventory $400

g. Dr Cash $320,000

Cr Sales revenue $320,000

h. Dr Cash $3,500

Cr Unearned revenue-deposit $3,500

i. Dr Accounts payable $17,500

Cr Cash $17,500

j. Dr Cash $400

Cr Accounts receivable $400

k. Dr Wages expense $245,000

Cr Cash $245,000

B. $1,300

Explanation:

A. Preparation of Journal entries

a. Dr Cash $2,300,000

Cr Notes payable $2,300,000

[To acknowledge cash borrowed from the bank]

b. Dr Equipment $98,000

Cr Cash $98,000

[To record acquisition of a snowplow]

c.Dr Inventory $35,000

Cr Accounts payable $35,000

[To log purchase of inventory on credit]

D. Dr Repair expense $62,000

Cr Cash $62,000

[For payment of repair expenses]

e. Dr Cash $390,000

Cr Unearned revenue $390,000

[For sale of seasonal passes]

f. Dr Accounts receivable $700

Cr Sales revenue $700

[To record sales on credit]

Dr Cost of goods sold $400

Cr Inventory $400

[To record associated costs]

g. Dr Cash $320,000

Cr Sales revenue $320,000

[To document sales ]

h. Dr Cash $3,500

Cr Unearned revenue-deposit $3,500

[To log customer deposits]

i. Dr Accounts payable $17,500

[35,000 x 1/2]

Cr Cash $17,500

[For recording cash payments toward accounts payable]

j. Dr Cash $400

Cr Accounts receivable $400

[To log customer payments]

k. Dr Wages expense $245,000

Cr Cash $245,000

[To acknowledge wage payments]

B. To determine the ending balance in the Accounts Receivable account as of the end of December

Beginning Accounts Receivable 1,000

Add: Sales on account 700

Less: Cash received on account -400

Ending balance in Accounts Receivable $1,300

Consequently, the final balance in the Accounts Receivable by the end of December will amount to $1,300