The Bond for an item under temporary importation and 1/60 partial GST Value of the item USD $275000 Exchange Rate 1.2635 Duty Rate 6 months 6%
Q: A Company produces items to order and had the following budgeted overheads for the year on normal…
A: Lets understand the basics. Overhead absorption rate is a rate based on which overhead gets…
Q: The debits and credits from four related transactions, (1) through (4), are presented in the…
A: Note: 1/10, n/30: Here, 1 represent the discount rate if payment is made within ten days. And if…
Q: Assuming that Sales Discounts is treated as a contra-revenue, compute net sales for the two months…
A: Sales discount is the discount which has been given by the corporation to the customers which has…
Q: The following shows the time in hours between towns in Jamaica: Alexandria - Brown's Town…
A: Shortest time: It is the time the alexndria takes to reach guy's hill. To calculate shortest time we…
Q: Delta Company manufactures drills and sells them to distributors. In its first year of operations,…
A: Cost of Goods Sold is calculated by adding the value of inventory at the beginning of the year with…
Q: Calculate William's maximum depreciation deduction for 2021, assuming he uses the automobile 100…
A: answer: First of all let us understand MARCS method, The full form of MACRS is a modified…
Q: On 1 July 2020, Big Ltd acquired all the issued share capital of Small Ltd for cash for an amount of…
A: In case one company overtake the assets and liabilities of another company , then accounting for…
Q: Sophia invests $100 at the end of each year for 9 years at an annual effective interest rate of 4%.…
A: SOLUTION:- Sophia Year Investment New Value Interest @ 4% Accumulated…
Q: Question 5 Bee-In-The-Bonnet Company purchased office supplies costing $8,000 and debited Supplies…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Budgeted Income Statement and Balance Sheet As a preliminary to requesting budget estimates of…
A: Budgeted Income Statement A planned financial statements, also known as a budgeted income statement,…
Q: The A and B Partnership was formed on January 2, 2022. Under the partnership agreement, each partner…
A: Under Bonus Method, the amount pf Bonus shall be computed as follows, Amount of Bonus = Total…
Q: E3-7 Recording Journal Entries LO3-4 Sysco Corporation, formed in 1969, is the largest global…
A: Journal entry: It implies to the process of accounting company's financial transactions in it's…
Q: 4.1 Calculate the combined value of the proposed acquisition. 4.2 Calculate the total number of…
A: SOLUTION:- 4.1 Combined value of the proposed acquisition will be: Value of Watford Refiners +…
Q: QUESTION 2 Alyna owns a sole trading business that sells kids clothing. She purchased stocks from…
A:
Q: The following cash budget is for the third quarter of this year. Solve for the missing numbers on…
A: A cash budget has several advantages, including : 1. It forces the business to think about and…
Q: A and B enter into a partnership agreement contributing their respective business' assets at fair…
A:
Q: understand
A: Sales Discount refers to reduced price offered by a company for sale of product in the market.…
Q: Determine the correct inventory amount. E6.1 (LO 1), AN Umatilla Bank and Trust is considering…
A: Ending inventory is the pricing of the goods still in stock at the end of a reporting period. The…
Q: hat are 3 publicly traded corporations. For each corporation you need to provide URL link for…
A: Publicly traded corporations are those corporations, whose shares are available for general public.…
Q: XYZ Inc is preparing the October month-end Bank Reconciliation. The balance in the cash ledger on…
A: Bank reconciliation statement is the one which is prepared in order to reconcile the errors in…
Q: Prepare: Journal Entry T Account (Ledger Account) 2020 Details of Transactions Jan- 01…
A: Journal Entry : It is a record of every business transaction in day-to-day operations of the…
Q: The balance in the supplies account before adjustment at the end of the year is $766. The proper…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Need help with the balance sheet liabilities part and to make sure the assets are correct
A: Balance Sheet An organization's properties, obligations, and capital employed are listed on a…
Q: For the given corporate bond, whose annual simple interest rate is provided, find the semiannual…
A: BOND Bond are Shown Under Non Current Liabilities in the Balance sheet Of the Company. Bond is…
Q: Kim is a furniture retailer. She can buy a dining table for a list price of $1,600 with a 25% trade…
A: Discount allowed is the amount that is allowed by a supplier to its customer on account of the bulk…
Q: A Trinidad Bauxite Corporation, Sparrow, acquired mineral rights for $58,500,000. The mineral…
A: The question is based on the concept of Financial Accounting. The terms "depletion" and…
Q: Prepare the appropriate journal entries for Macy Company to record each of the May transactions.…
A: Perpetual Inventory System is one of the method of Inventory keeping. It maintain running balances…
Q: Happy Citrus started selling franchise locations in April 2026. The franchisee pays continuing fees…
A: Introduction to the IFRS 15 International Financial reporting standards (IFRS) 15 - This standard…
Q: Jerry and Sherry own and operate a partnership. Jerry’s capital balance is $50,000 and Sherry’s is…
A: A partnership is an association of businesses in which more than one person invests money, engages…
Q: A, B, C are new lawyers and are decided to form a partnership. . A is to contribute cash of P50,000…
A: Journal entries refers to the entries which are passed by the companies at the end of the accounting…
Q: The following information is for Acme Auto Supplies: Trademark Land Buildings Less Accum.…
A: Current assets: Current assets are those assets that are expected to be sold,collected or used…
Q: Question 2 On September 1, 2022, Alpha Co borrowed $10,000,000 for a term of 1 year at an interest…
A: Borrowing cost means where the assets like building , take substantial time to build , then interest…
Q: The following selected transactions were completed by Betz Company during July of the current year.…
A: Every organization, big or small, must record its financial transactions in its books. The first…
Q: Question 3 At the end of the year, a deductible temporary difference of $40 million has been…
A: When there is a difference in amounts of tax base and accounting base of assets and liabilities it…
Q: inden Company is a wholesale distributor of premium European chocolates. The company’s balance sheet…
A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: 28/9 Paid wages to shop assistant by cheque, $1,200. REQUIRED: Prepare a Three-column Cash Book,…
A: Cash Book (Triple Coloum) The most thorough type of cash book has triple currency columns on both…
Q: Pressure Pumps Corporation, a manufacturer of industrial pumps, reports the following results for…
A: Retained Earnings Statement is a statement showing the opening retained earnings, net income earned…
Q: Based on the background example of this assignment, kindly provide answer/working of this assignment…
A: Liquidity, acid test, and debt ratios are some of the most important ratios. These ratios help the…
Q: er Company entered into the following transactions involving short-term liabilities. (Use 360 days a…
A: Interest expense refers to the expense born by an entity in order to take loan or get the loan…
Q: On January 1, 2022, A, B and C formed ABC Partnership with agreed capital of P1,200,000 or P400,000…
A: Lets understand the basics. Partnership is an agreement between two or more person who works…
Q: BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its…
A: The calculation related to FUTA and SUTA are made in the excel sheet and the calculation work is…
Q: The supplies account had a balance of $1,443 at the beginning of the year and was debited during the…
A: Supplies account refers to the account which has a normal debit balance and is used to record the…
Q: Number of Units Cost per unit Opening inventory, May 1…
A: Every organization has some inventory for the purpose of sale. The company should determine the flow…
Q: a) Diana started her business on 1 July 2021. transactions during July 2021 were as follows: Date…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The…
A: A journal is a detailed account that records all the financial transactions of a business, to be…
Q: Mr. Josh Kho, the operations manager of Achos Merchandising Corp. Is worried about the result of its…
A: Since you have posted a question with multiple sub-parts, we are allowed to do only first three…
Q: Explain the presentation of a multiple-step income statement,
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Find the payment necessary to amortize a 8% loan of $800 compounded quarterly, with 9 quarterly…
A: Time value of money :— According to this concept, value of money in present day is greater than the…
Q: 2. Sales Invoice #121 Dated: July 4, 2025 To FIX IT, $900 plus $117 HST for
A: The sale of welding a trailer for a cattle farmer should be recorded as revenue in the company's…
Q: Host nations have adopted competition policy and anti-dumping law. a. Why do multinational…
A: Host nations have adopted competition policy and anti-dumping law. In addition, the host countries…
6.
Step by step
Solved in 2 steps
- * -IFRS 9 FINIANCIAL INSTRUMENTS On 1 January 2018, TLC bought a GHS100,000 5% bond for GHS95,000, incurring issue costs of GHS2,000. Interest is received in arrears. The bond will be redeemed at a premium of GHS5,960 over nominal value on 31 December 2020. The effective rate of interest is 8%. The fair value of the bond was as follows: 31 December 2018 GHS110,000 31 December 2019 GHS104,000 Required: Explain, with calculations, how the bond will be accounted for over all the relevant years if: (a) TLC planned to hold the bond until the redemption date. (b) TCL may sell the bond if the possibility of an investment with a higher return arises. (c) TLC planned to trade the bond in the short-term, selling it for its fair value on 1 January 2019.The nominal annual interest rate on 6-month USD Treasury Bill is 4.50%. The spot rate of the Euro is $3.8643, and the 6-month forward rate of the Euro is $3.8880. If interest rate parity holds, what is the nominal annual interest rate on a risk and default free 6-month Euro bonds?Immersive Reader A. 12.35% B. 3.25% C. 10.20% D. 2.20%4. What is the carrying value of the bonds at the end of the second period (third number)? Premium 57,913.01 Carrying value (bonds) 432,913.01 Face Rate Market Rate Semiannual payments a. b. Cash Payment C. d. e. 14% 10% 0 or 1 2 or 3 4 or 5 6 or 7 8 or 9 Interest Expense Today Period #1 26,250.00 Period #2 26,250.00 Carrying value at end of second period (third number) ___________?__ 2. Disc. or Prem. Amort. 21,645.65 21,415.43 Disc. or Prem. 4,604.35 4,834.57 57,913.01 53,308.66 48,474.10 Face Value 375,000.00 375,000.00 375,000.00 Carrying Value 432,913.01 428,308.66 423,474.10
- S14-4 Pricing bonds Bond prices depend on the market rate of interest, stated rate of interest and time. Requirements 1. Compute the price of the following 8% bonds of Country Telecom. a. $100,000 issued at 75.25 c. $100,000 issued at 94.50 b. $100,000 issued at 103.50 d. $100,000 issued at 103.25 2. Which bond will Country Telecom have to pay the most to retire at maturity: Explain your answer.vvany vuipulauomi33utu y T00,000 J ytai pulius Jalluaiy i, 2020. TIIT DUnUs pay imititsi amually aiu liavt a slaitu rate of 6%. The market on day of issue was 8%. Required 1 Determine the issue price (PV) of the bond. N (period of time) | (Interest) PV (Present Value FV (Future Value) PMT (Annuity) 2 Prepare the bond amortization schedule using the effective interest method. Cash Interest Interest Amortization of Year Discount Carrying Value Payment Expense Discount Jan 1, 2020 Dec 31, 2020 Page 1 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 3 Record the necessary journal entry at date of issue and first interest payment. General Journal DR CR 4 Analyze the effect on the financial statements of the journal entry at date of issue (a) and the first interest payment (b). Assets = Liabilities + Equity Revenues - Expenses = Net Income labond contract rate=7% semi-anual bond par=$10,000 bond market =6% semi-annual bond life =10 years 1) find the selling price of this bond 2) will it be sold at a discount or premium 3) do the journal entry for the issuance 4) calculate the discount/premium authorization per period (use the sightline method ) 5 )do the entry for the payment of cash interest period 6) do the entry for the amortization of the discount /premium per period 7) find total interest expense per period 8) show the balance sheet presentation of the bond after two periods have elapsed
- A $100 000 face value strip bond has 6 years remaining until maturity. If the current market return rate is 4% compounded semi- annually, what is the fair market value of the strip bond? Select one: O A. S126 824 O B. $79 031 OC. $88 797 O D. $100 000 OE $78 849moodle1.du.edu.om suppose the government of the Sultanate of Oman is planning to issue short-term bonds on the Muscat Securities Market. You are requested to find the market value of this bond using the information below issue date: 6 June 2021. maturity date: 27 August 2021. The discount rate is 0.086. Select one: a. 1.07% b. 102.51% C. All the given choices are not correct d. 98.06% e. 99.98%The nominal annual interest rate on 6-month USD Treasury Bill is 4.50%. The spot rate of the Euro is $3.8643, and the 6-month forward rate of the Euro is $3.8880. If interest rate parity holds, what is the nominal annual interest rate on a risk and default free 6-month Euro bonds? a. 12.35% b. 3.25% c. 10.20% d. 2.20%
- A $12 000, 8.9% bond is purchased 7 years before maturity to yield 5.8% compounded semi- annually. The bond interest is payable semi-annually. What is the amount of the premium or discount? O a. $2115.46 O b. $10579.09 O c. $1420.91 O d. $14115.46A$1000,6%bondpayscouponssemiannuallyandwillberedeemedonJuly1,1978.Findthepriceifthe bond is bought on July 1, 1975 to yield 4% compounded semiannually, if the bond is redeemable at 110%. a. $ 1,056.01 b. $ 887.97 c. $ 976.77 d. $ 1,144.81A bond with a face amount of $12,000 has a current price quote of 107.15. What is thebond’s price?a. $12,107.15b. $1,285.80c. $12,858.00d. $128,580