Describe the journal entries required to record the issuance of bonds at par and the payment of bond interest.
What will be an ideal response?
The journal entry to record a bond issuance at par includes a debit to Cash for the amount of the proceeds and a credit to Bonds Payable for the amount of the par value of the bonds. At the time of each interest payment, the Interest Expense account is debited and the Cash account is credited for the amount of the stated (contract) interest.
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Skyline Florists uses an activity-based costing system to compute the cost of making floral bouquets and delivering the bouquets to its commercial customers. Company personnel who earn $180,000 typically perform both tasks; other firm-wide overhead is expected to total $70,000. These costs are allocated as follows: Bouquet Production Delivery OtherWages and salaries 60% 30% 10%Other overhead 50% 35% 15%Skyline anticipates making 20,000 bouquets and 4,000 deliveries in the upcoming year.The cost of wages and salaries and other overhead that would be charged to each bouquet made is:
A. $8.75. B. $7.15. C. $12.50. D. $13.75. E. None of the answers is correct.
Which of the following statements, regarding the management's discussion and analysis (MD&A) part of the annual report is NOT correct?
A) Investors are not interested in the MD&A because it is written by the company and could present a biased view of the company's financial condition and performance. B) It often contains information that is not found in the financial data. C) It provides forward-looking formation. D) The MD&A is the company's attempt to explain its financial statements and to discuss its performance.
A franchisee pays a royalty fee for the continued use of a franchisor's trade name, property, and assistance
Indicate whether the statement is true or false
Managers utilize spreadsheets to conduct their own analyses in management science studies
Indicate whether this statement is true or false.