Based on the following data, calculate the breakeven point.Sales = $500,000Transportation = $10,000Gross Profit = $200,000Lodging and Meals = $8,000Salary = $37,000Other expenses = $5,000
A. $150,000
B. $86,667
C. $130,000
D. $100,0003
E. Cannot be calculated with the information given
Answer: A
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On January 1, Year 1, Victor Company issued bonds with a $400,000 face value, a stated rate of interest of 3%, and a 5-year term to maturity. The bonds sold at 93. Interest is payable in cash on December 31 of each year. Victor uses the straight-line method to amortize bond discounts and premiums.What is the carrying value of the bond liability at December 31, Year 3?
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