Benson industries, inc. issued $2,000,000 of 8% debentures on may 1, 2001 and received cash totaling $1,774,526. the bonds pay interest semiannually on may 1 and nov. 1. the maturity date on these bonds is nov. 1, 2009. the firm uses the effective interest method of amortizing discounts and premiums. the bonds were sold to yield an effective interest rate of 10%. show all calculations. 1) prepare all journal entries for 2001 2) prepare a partial balance sheet showing the presentation of the bonds and the interest payable at dec. 31, 2001

Acoase solution to a problem of externality ensures that a socially efficient outcome is to

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is:

Cromwell is acquiring some land for $1,200,000 in exchange for semiannual payments of $75,000 at an interest rate of 6.35 percent. how many years will it take cromwell to pay for this purchase?