A municipality issues 750 municipal bonds with a par value of $500 each. The bonds pay 5% annual interest. What is the total amount of capital raised? A) $375,000 B) $393,750 c) $18,750 per year D) $356,250
Q: As of April 30, 2019, Marcus Tools has assets of $107,000 and liabilities of $26,000. How much is…
A: Explanation of Assets: Assets represent everything of value that a company owns or has the right to…
Q: Please need help with this general accounting question
A: Step 1: Define Direct Labor Price VarianceThe direct labor price variance measures the difference…
Q: Please given correct answer general accounting
A: Step 1: Define Credit SalesCredit sales are sales made without receiving the payment against the…
Q: Pay its Short term obligations?
A: Step 1: Explanation of Correct Option (a) Current ratio = It is a financial ratio that measures a…
Q: Please give me answer general accounting question
A: Step 1: Define inventory Holding CostsInventory holding costs are the expenses incurred to store and…
Q: General accounting
A: Step 1: Definition of Profit MarginProfit margin is a financial ratio that indicates the percentage…
Q: Don't use ai given answer accounting questions
A: Step 1:Days taken by the company to sell its inventory will be measured by the inventory turnover…
Q: Help
A: Explanation of Accounting Equation:The accounting equation is a fundamental principle in accounting…
Q: Answer? ? Financial accounting question
A: Step 1: Define Capital GainWhen a capital asset has been sold at a higher price than its face value…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Return on Common Equity (ROCE)Return on Common Equity (ROCE) measures the…
Q: During that same period?
A: Step 1: Accounting equation Assets = Liabilities + EquityLiabilities = Assets - Equity Change in…
Q: General accounting
A: Step 1: Define Return on EquityReturn on equity is an important financial ratio that compares net…
Q: Need help with this accounting questions
A: Step 1: Define Joint CostsJoint costs are an outcome of a process that starts with one input and…
Q: Financial Accounting: Corner Books has: Sales $764,200 Cost of goods sold $454,200 Profit margin 5.5…
A: Explanation of Price-Sales Ratio:The price-sales ratio is a financial metric that measures how much…
Q: Answer? ? Financial accounting
A: ROA Formula:ROA = Net Income / Total AssetsGiven:ROA=0.0900Rearranging to find Total Assets:Total…
Q: GENERAL ACCOUNT
A: The correct answer is:a. owners on total assets. Explanation:What is Stockholders'…
Q: General accounting
A: Step 1: Definition of Cost of Goods Sold (COGS)The Cost of Goods Sold (COGS) is the direct cost of…
Q: Accurate Answer
A: Fair value is zero at contract inception, forward contracts are designed so that neither party…
Q: Assume the following sales data for a company: please answer the financial accounting question
A: Step 1: Define SalesSales can be defined as and can only process in which the buyer receives goods…
Q: Charged under the new credit policy? General accounting
A: Lets we assumePrice is to be YParticularsCurrent PolicyNew PolicyPrice per unit104YCost per…
Q: General accounting
A: Step 1: Define Net SalesNet sale is a top-line item of the income statement which is the difference…
Q: Hello tutor please provide correct answer general Accounting
A: Step 1: Define Return on EquityIn the domain of finance, the return on equity financial ratio gives…
Q: Correct answer
A: Solution= desired ending inventory on Jan 31 + required for production in January - beginning…
Q: Financial accounting 2-23-54
A: Explanation of Rate of Return:The rate of return measures the percentage increase or decrease in the…
Q: Hello tutor please provide correct answer general Accounting question
A: Note: The question has stated the purchase price per share as 531, but the sale price given per…
Q: Step by step answer
A: Calculate the Net Change in Assets:Net Change in Assets=Ending Assets−Beginning Assets Net Change in…
Q: Financial Accounting question
A: Step 1: DefinitionStockholders' Equity:The remaining value for shareholders after all liabilities…
Q: Hii expert please given correct answer general accounting
A: Step 1: Define Gross MarginA company's gross margin is the revenue that remains after directly…
Q: How can the company ensure a smooth transition?
A: Definitions (in 4 Sentences)Accounting Standards: Rules and guidelines established by authoritative…
Q: DON'T WANT AI ANSWER
A: Let us compute the change in equity by using the basic accounting equation, Assets = Liabilities +…
Q: During the current year, merchandise is sold for $589,000. The cost of merchandise sold is $266,360.…
A: Step 1: Determine the total sales revenue and cost of merchandise sold.Sales revenue$589,000Cost of…
Q: Helen is a sole trader who runs a small bakery. She wants to prepare a cash budget for the first…
A: Detailed explanation: a.) In this scenario, Helen, a sole trader, runs a bakery, which uses a cash…
Q: Answer?
A: The question refers to asset turnover ratio. The asset turnover ratio formula is equal to net sales…
Q: Provide correct answer general accounting
A: Step 1: Definition of Quick RatioThe Quick Ratio is a financial metric used to measure a company's…
Q: Help
A: Explanation of Mathematical Equation Method: The mathematical equation method is a fundamental…
Q: Provide correct answer general accounting
A: Step 1: Define High low methodIt refers to that cost accounting technique in which the cost has been…
Q: General accounting
A: Explanation: In the given case, we are required to calculate return on assets and return on equity…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Adjusting Entry for InterestAn adjusting entry for interest is required to…
Q: During its first month of operation, Peter's Auto Supply Corporation, which specializes the sale of…
A: To prepare the trial balance for Peter's Auto Supply Corporation for the month of July, we need to…
Q: can you solve # GENERAL ACCOUNT
A: Step 1: Understand Key ConceptsBook Value of Equipment:The book value represents the amount of the…
Q: I want to correct answer accounting questions
A: Current Liabilities are obligations that a company expects to pay within one year.Based on the…
Q: Do fast answer of this general accounting question
A: Step 1: Define Overhead ExpensesThe expenses incurred that does not provide value enhancement of…
Q: What is the effect of the transaction on the accounting equation?
A: Step 1:The repayment of bank loans results in a decrease in liabilities by $10,000. The issuance of…
Q: Please solve this question general accounting
A: Step 1: Define Profit MarginProfit Margin is an accounting estimate, which helps firms in knowing…
Q: EXPLAIN THE CONCEPT OF REVENUE RECOGNITION. WHAT ARE THE CRITERIA THAT MUST BE MET BEFORE REVENUE…
A: Detailed explanation:Revenue recognition is an accounting principle that determines when a business…
Q: Kindly help me this question general Accounting question
A: Step 1: Define Return On EquityOne of the financial ratios under ratio analysis is the return on…
Q: Find out the estimated inventory
A: Explanation of Gross Profit Method:The gross profit method is a technique used to estimate inventory…
Q: An electronics store sold a home theater system to an employee for $400, even though the retail…
A: Explanation of Cost Price: This is the price calculated by reducing the retail price by the gross…
Q: Please help me
A: The gross profit percentage is calculated using the formula:Gross Profit Percentage=(Gross Profit ÷…
Q: General Account
A: To calculate the percentage rate of return on pension plan assets, we use the formula: Rate of…
General accounting
Step by step
Solved in 2 steps
- NoneA city borrows $ 1 million, paying semi-annual interest at j2 = 9%. The city creates a sinking fund in which semi-annual deposits of $37360.93 are made in order to accumulate the $ 1 million needed to repay the loan upon maturity. The sinking fund earns j2 = 8%.What is the book value of the debt at the end of the 5 years?Lisa County issued $5,000,000 of general obligation bonds at 101 to finance a capital project. The $50,000 premium was to be used for payment of interest. The transactions involving the premium should be accounted for in thea. capital projects funds, the debt service funds, and the general long-termdebt account group.b. capital projects funds and debt service funds only.c. debt service funds and the general long-term debt account group only.d. debt service funds only.
- Japes City issued $1,000,000 general obligation bonds at 101 to build a new city hall. As part of the bond issue, the city also paid a $500 underwriter fee and $2,000 in debt issue costs. What amount should Japes City report as other financing sources? A.) $1,010,000 B.) $1,008,000 C.) $1,007,500 D.) $1,000,0001. The township issues $5.0 million in bonds at a premium of $.40 million and incurs $.18 million in issue costs. The premium, net of issue costs, is transferred to a newly established debt service fund.2. The township receives $2.0 million in cash from the state for the reimbursement grant in anticipation that the township will incur at least $2.0 million in construction costs.3. The township pays $5.9 million to invest in short-term (less than one year) securities.4. The township issues purchase orders and signs construction contracts for $ 7.9 million.5. The township sells $4.0 million of its investments for $4.4 million.6. The township receives invoices totaling $6.2 million. As permitted by its agreement with its prime contractor, the township retains S.7 million pending satisfactory completion7. 8. The township recognizes the revenue earned from the reimbursement grant.9. Anticipating that the project will be completed in the following year, ABC Construction Company pledges to…A utility district has issued bonds totaling $4.7 Million with a fixed annual coupon rate of 4.00% and a term of 30 years. In addition to making the annual coupon payment, the district must deposit an additional annual amount (an equal amount each year beginning one year from the date of issuance) into a sinking fund so that the principle balance of $4.7 million will be on hand when the bonds come due. The district can earn 3.50% on its invested funds. What is the combined amount of money required for each year’s coupon payment and sinking fund payment? Submit whole number with no commas and no currency sign
- A city has financed a local project with a $600,000 bond issue with a coupon rate of 6% compounded semi-annually. The bonds are redeemable in 13 years. At the same time, a sinking fund earning interest at 5.3% compounded semi-annually is established to accumulate the full $600,000 when the bonds mature in 13 years. Paragraph B ... a) Find the periodic expense of the debt. BGN/END 2x 13-26 600000- 265913.95=334086.05 c) Construct the sinking fund schedule for the 9th year. Interest Increase Payment Periodic for Fund Вook in the Number Payment Payment Balance Value Fund Interval Totals:A bond issue was authorized by vote to provide funds for the construction of a new municipal building, which it was estimated would cost $1,070,000. The bods are to be paid in 10 equal installments from a debt service fund, and payments are due March 1 of each year.Construction and debt transactions can affect more than one fund. During 2021 Luling Township engaged in the following transactions related to modernizing the bridge over the Luling River. The township accounts for long-term construction projects in a capital projects fund.• On July 1 it issued 10-year, 4 percent bonds with a face value of $1 million. The bonds were sold for $1,016,510, an amount that provides an annual yield of 3.8 percent (semiannual rate of 1.9 percent). The city incurred $10,000 in issue costs.• On August 1, it was awarded a state reimbursement grant of $800,000. During the year it incurred allowable costs of $600,000. Of these it paid $500,000 in cash to various contractors. It received $450,000 from the state, expecting to receive, early in 2022, the $150,000 difference between allowable costs incurred and cash received. Moreover, it expects to receive the balance of the grant later in 2022. • It invested the bond proceeds in short-term federal securities. During…
- During fiscal year 2019, a municipality issued the following debt instruments: Tax anticipation notes : $2,500,000 Utility bonds : 3,000,000 General obligation bonds : 8,000,000 How much of this debt should be reported in the fund financial statement?5. 2. The City of Paradise issued Bonds of $1,250,000 for the Construction of a City Hall. The City Hall’s bonds are sold at a premium of $150,000; therefore the estimated cost of the Hall is $1,100,000. Required: a. Prepare general journal entries to record the issue of the bonds by General Fund. b. Prepare general journal entries to transfer the premium amount to the debt service fund.Journal entries regarding a bond issue and accounting for a premiumArchambault Township authorized a bond issue for a parking garage with an estimated cost of $4,000,000.The garage would be financed through a $2,500,000 bond issue and a $1,500,000 contribution from the General Fund.The General Fund made its contribution, and the bonds were sold for $2,700,000, which included a $200,000 premium over the face amount of the bonds.Prepare journal entries to record (1) the budget for the parking garage, (2) the payment and receipt of the General Fund’s contribution, and (3) the issuance of the bonds, assuming the premium remained in the Capital Projects Fund.
