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: Calculate their free cash flow for 2016 and 2017
A: A) 2016 free cash flowNet cash flow from operating activity = $353,000Net cash flow used for…
Q: Degregorio Corporation makes a product that uses a material with the following direct material…
A: Step 1: Determine the Actual Price per Unit• Calculate by dividing total cost of materials purchased…
Q: Please answer do fast and step by step calculation with explanation for this financial accounting…
A: Step 1: Define Selling PriceThe selling price of the product is used to calculate the total revenue…
Q: Hi teacher please help me this question general accounting
A: Step 1: Define Capital GainWhen the value of an asset has increased and if it is traded at a price…
Q: Kindly help me with general accounting question
A: Step 1: Define Contribution MarginContribution margin refers to the amount remaining from sales…
Q: Financial Accounting
A: Step 1: Define Cost of EquityThe cost of equity is a company's cost arising from raising capital…
Q: Hi teacher please help me this question general accounting
A: Step 1: Define Debtors' TurnoverDebtors are customers that purchase goods on credit from the…
Q: Data related to the inventories of Kimzey Medical Supply are presented below: Surgical…
A: The lower of cost or market (LCM) rule is a principle in accounting that requires a business to…
Q: GENERAL ACCOUNTING 5.7
A: Approach to solving the question: Step 1: Calculate Net SalesNet Sales = Sales Revenue - Sales…
Q: Provide balance sheet data ?
A: Step 1: Definition of the Required RatiosWorking Capital: The difference between current assets and…
Q: please general account questions answee me
A: Workings for Direct Material BudgetMink CaressDirect Material Budget ParticularsYear 2 QuarterYear…
Q: Middy Garden Services provides you with the following information on 28 February 20.9. R Machinery…
A: If you have any help please let me know in comment box thankyou.
Q: General Accounting question
A: Step 1: Define Return On EquityThe return on equity (ROE) is one of the ratio analyses under…
Q: Find out accounting solutions
A: To calculate the Cost of Goods Sold (COGS) and Ending Inventory using the LIFO (Last-In, First-Out)…
Q: What is its ROE?
A: For this question, we must compute for the ROE. Return on equity is a financial ratio that shows how…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Cost of Goods Sold (COGS)The Cost of Goods Sold (COGS) represents the total…
Q: A multinational company has subsidiaries in several countries with different currencies. Discuss the…
A: Definitions Related to the QuestionConcept of Foreign Currency Translation:Foreign currency…
Q: Need help with this accounting questions
A: Number of Days' Sales in Accounts Receivable:This metric measures the average number of days it…
Q: Consider the following accounts and identify each account as an asset (A), liability (L). or equity…
A: Here is the classification of each account as Asset (A), Liability (L), or Equity (E):…
Q: Barington Mills manufactures denim cloth from two primary raw materials, cotton and dye.…
A: Step 1: Calculate Total Inventory ValueThe total inventory value is determined by summing the value…
Q: Accurate Answer
A: Fair value is zero at contract inception, forward contracts are designed so that neither party…
Q: Upton Ltd is a manufacturing company that plans to make 300 chairs and 100 tables with the following…
A: Steps and explanations are as follows:In case of any doubt, please let me know. Thank you.
Q: Get correct solution for this general accounting question not use ai
A: Step 1: Define Gross ProfitGross profit is the difference between net sales revenue and the cost of…
Q: None
A: The question requires the determination of the ROE. Return on Equity (ROE) is an important indicator…
Q: Train Company makes widgets, and each widget requires 4 pounds of material at 55 per pound. 600 and…
A: Step 1: Understand the RequirementsMaterial per widget: 4 pounds.Material cost per pound: $55.March…
Q: Sub: Financial Accounting
A: Concept of Historical CostThe historical cost principle refers to recording assets and liabilities…
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: Mize Company provided $45,500 of services on account and collected $38,000 from customers during the…
A: 1. **Revenue from services on account**: - Mize Company provided **$45,500 of services on…
Q: The ending balance of the Goods in Process Inventory account for the Machining Department is:
A: Step 1: Formula for Ending InventoryThe formula for the ending balance of Goods in Process Inventory…
Q: Please give me answer general accounting question
A: Step 1: Define Bad DebtBad debt can be defined as the account receivable that is unrecoverable for…
Q: Which of the following is included in inventory costs? A. Period costs. B. Product and period costs.…
A: The correct answer is:C. Product costs. Explanation:What Are Inventory Costs?Inventory costs include…
Q: ?? Financial accounting question
A: Step 1: Define Transfer of Property Subject to DebtIn a property transfer transaction, if the seller…
Q: Calculate the number of units completed and transferred out during the period. Subject is general…
A: To calculate the number of units completed and transferred out, we need to follow these steps: 1.…
Q: A piece of equipment is purchased for $23,500 and has a salvage value of $3,200. The estimated life…
A: Explanation of Total Cost: Total cost, calculated as $24,880, represents the full amount spent to…
Q: The following 2017 budget information relates to Target Corporation unit production: Quarter Units 1…
A: Step 1: Information GivenQuarterly Production:Q1: 20,000 unitsQ2: 25,000 unitsQ3: 30,000 unitsQ4:…
Q: Lemon inc. lists fixed assets of 100 on its balance sheet
A: 1. Determine Market Value of AssetsMarket Value of Fixed Assets: $169Market Value of Current Assets:…
Q: What was the firm's free cash flow?? General accounting
A: To calculate the firm's free cash flow (FCF), follow these steps: Formula for Free Cash Flow…
Q: Need help with this general accounting question
A: To calculate the firm's Return on Assets (ROA), we use the formula:Step 1: Calculate Net IncomeThe…
Q: Swathmore Clothing Corporation grants its customers 30 days’ credit. The company uses the allowance…
A: First, we need to calculate the estimated uncollectible amount for each age group. This is done by…
Q: General accounting
A: Step 1: Define Net SalesNet sale is a top-line item of the income statement which is the difference…
Q: None
A: The correct answer is:A. the purchasing manager bargaining effectively with suppliers.…
Q: Which of the following are considered product costs?.(General Account)
A: The correct answer is:d. Direct labor and manufacturing overhead. Explanation:Product costs are…
Q: tutor solve account questions. no ai strictly
A: Let us work around the formula of cost of goods sold to compute the ending inventory.Cost of goods…
Q: Variable cost
A: Explanation of Break-Even Sales (Units):Break-even sales (units) represent the number of units a…
Q: How did you calculate the number?
A: Step 1:Step 2:Step 3: Step 4:
Q: Do fast answer of this general accounting question
A: Step 1: Define Book ValueThe book value of an intangible asset refers to its remaining value after…
Q: Provide correct answer financial Accounting
A: Step 1: Define Process costingProcess costing is a method of collecting direct costs and…
Q: Financial accounting question
A: Step 1: Define InventoryInventory can be defined as a current asset because it can be converted into…
Q: Don't give me incorrect solution
A: Explanation of the Accounting Equation:The accounting equation is the foundational principle of…
Q: Solution need for this account subject.
A: To determine Baltimore Company's total equity, we use the accounting equation:…
What is the total amount of capital raised ?
Step by step
Solved in 2 steps
- 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.) $1,000,000Craven City borrows $1,000,000 in bonds payable on January 1, 2022, and the bonds are scheduled to be repaid over 10 years, with the first payment scheduled for December 31, 2022. The bonds have a stated interest rate of 4%, and interest is payable annually with the first interest payment scheduled for December 31, 2022. Assuming the debt is repaid from a debt service fund (because the bond proceeds were used to benefit the governmental funds), what amount of expenditures would be recognized in the debt service fund for 2022? What amount of expense would be recognized if the bonds were repaid in an enterprise fund (because the bond proceeds were used to benefit the enterprise fund)? O $40,000 expenditures in the debt service fund; $40,000 expense in the enterprise fund O $140,000 expenditures in the debt service fund; $40,000 expense in the enterprise fund O $140,000 expenditures in the debt service fund; $140,000 expense in the enterprise fund $40,000 expenditures in the debt service…Craven City borrows $2,000,000 in bonds payable on January 1, 2022, and the bonds are scheduled to be repaid over 10 years, with the first payment scheduled for December 31, 2022. The bonds have a stated interest rate of 5%, and interest is payable annually with the first interest payment scheduled for December 31, 2022. Assuming the debt is repaid from a debt service fund (because the bond proceeds were used to benefit the governmental funds), what amount of expenditures would be recognized in the debt service fund for 2022? What amount of expense would be recognized if the bonds were repaid in an enterprise fund (because the bond proceeds were used to benefit the enterprise fund)?
- Assume that a city issues a $5,250,000 bond at par. The city, subsequently, pays $262,500 in interest on the bond and $1,050,000 of the principal. Prepare the journal entries to record the issuance of the bond and the subsequent payments.1. 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:the Shannon Township Debt Service Fund accumulates resources to pay its $2 million general obligation debt. The debt is payable in equal annual installments of principal over 10 years with 5% interest on the unpaid principal. Prepare journal entries to record the following transactions in the Debt Service Fund. 1. The Township levies a special property tax amounting to $500,000 to pay debt service on its long-term general obligation debt. 2. All the property taxes levied for debt service purposes are collected. 3. The Township invests $150,000 in a six-month certificate of deposit. 4. Debt service (interest of $100,000 and principal of $200,000) becomes due to bondholders. 5. The certificate of deposit in c. matures and the Township receives a total of $153,000, which includes $3,000 of interest.Margery Corp. received $100,000 in interest from a bank this year, $80,000 of municipal bond interest. Margery Corp. paid $5,000 of interest expense on loans it secured to purchase the municipal bonds. What is the total, net BTD associated with these investments? Group of answer choices $75,000 favorable, permanent $85,000 favorable, permanent $80,000 favorable, permanent $85,000 favorable, temporary
- 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…Suppose the City of St. George, Utah, decides to assist residents by installing sidewalks in their neighborhood. Construction will be financed by cash provided from a ten-year, 3 percent, serial bond issue for which the government has no liability. Bonds mature at a rate of $500,000 per year. Area residents are assessed over a ten-year period to cover bond principal and interest payments. Events are as follows: 1. Serial bonds are issued, totaling $5,000,000. 2. Assessments are levied on area residents to cover the first year's principal and interest payments. 3. Assessments are collected and the first year's bond principal and interest are paid. Required Record the above events in a custodial fund. If a journal entry isn't required for an event, select No entry as your journal descriptions. Ref. Description 1 No entry No entry Debit Credit 0 0 0 0 To record issuance of serial bonds. 2 Additions Assessments receivable To record special assessment levy. 3 Cash Assessments receivable…
