Business, 18.07.2020 18:01 aaamanda99
On April 1, 2020, Seminole Company sold 15,000 of its 11%, 15-year, $1,000 face value bonds at 97. Interest payment dates are April 1 and October 1, and the company uses the straight-line method of bond discount amortization. On March 1, 2021, Seminole took advantage of favorable prices of its stock to extinguish 6,000 of the bonds by issuing 200,000 shares of its $10 par value common stock. At this time, the accrued interest was paid in cash. The company's stock was selling for $31 per share on March 1, 2021.InstructionsPrepare the journal entries needed on the books of Seminole Company to record the following. a. April 1, 2020: issuance of the bonds. b. October 1, 2020: payment of semiannual interest. c. December 31, 2020: accrual of interest expense. d. March 1, 2021: extinguishment of 6,000 bonds. (No reversing entries made.)
Answers: 2
Business, 21.06.2019 14:40
Easel manufacturing budgeted fixed overhead costs of $ 1.50 per unit at an anticipated production level of 1 comma 350 units. in july easel incurred actual fixed overhead costs of $ 4 comma 700 and actually produced 1 comma 300 units. what is easel's fixed overhead budget variance for july?
Answers: 2
Business, 22.06.2019 10:50
Jen left a job paying $75,000 per year to start her own florist shop in a building she owns. the market value of the building is $120,000. she pays $35,000 per year for flowers and other supplies, and has a bank account that pays 5 percent interest. what is the economic cost of jen's business?
Answers: 3
Business, 22.06.2019 12:30
Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis.b)reject the null hypothesis and conclude the mean is higher than $6,000 per day.c)reject the null hypothesis and conclude the mean is lower than $6,000 per day.d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day.expert answer
Answers: 3
Business, 22.06.2019 19:10
Do it! review 16-3 the assembly department for right pens has the following production data for the current month. beginning work in process units transferred out ending work in process 0 22,500 16,000 materials are entered at the beginning of the process. the ending work in process units are 70% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs. materials conversion costs the equivalent units of production
Answers: 2
On April 1, 2020, Seminole Company sold 15,000 of its 11%, 15-year, $1,000 face value bonds at 97. I...
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