Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

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Answer 1

Question

Chapter 10, Problem 8E

a)

To determine

Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

b)

To determine

Prepare the journal entry at September 30, 2018, to record the semi-annual bond interest payment.

c)

To determine

Prepare the adjusting entry at December 31, 2018, to record bond interest expense accrued since

September 30, 2018.

d)

To determine

Explain the reasons for that the issuing corporation charged its bond investors for interest accrued in April 2018, prior to the issuance date.

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Algers Company produces dry fertilizer. At the beginning of the year, Algers had the following standard cost sheet: Direct materials (5 lbs. @ $2.60) $ 13.00 Direct labor (0.75 hr. @ $18.00) 13.50 Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Standard cost per unit $ 31.75 Algers computes its overhead rates using practical volume, which is 54,000 units. The actual results for the year are as follows: Units produced 53,000 Direct materials purchased 275,000 pounds at $2.50 per pound Direct materials used 270,200 pounds Direct labor Fixed overhead Variable overhead 40,100 hours at $17.95 per hour $ 1,61,600 $1,21,900 Compute the price variance for direct materials.

Algers Company produces dry fertilizer. Compute the usage variance for direct materials. At the beginning of the year, Algers had the following standard cost sheet: Direct materials (5 lbs. @ $2.60) $ 13.00 Direct labor (0.75 hr. @ $18.00) 13.50 Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Standard cost per unit $ 31.75 Algers computes its overhead rates using practical volume, which is 54,000 units. The actual results for the year are as follows: Units produced 53,000 Direct materials purchased 275,000 pounds at $2.50 per pound Direct materials used 270,200 pounds Direct labor 40,100 hours at $17.95 per hour Fixed overhead Variable overhead $1,61,600 $1,21,900

What is the forecasted accounts receivable on these general accounting question?

Answer 2

Question

Chapter 10, Problem 8E

a)

To determine

Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

b)

To determine

Prepare the journal entry at September 30, 2018, to record the semi-annual bond interest payment.

c)

To determine

Prepare the adjusting entry at December 31, 2018, to record bond interest expense accrued since

September 30, 2018.

d)

To determine

Explain the reasons for that the issuing corporation charged its bond investors for interest accrued in April 2018, prior to the issuance date.

Expert Solution & Answer

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Answer 3

Question

Chapter 10, Problem 8E

a)

To determine

Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

b)

To determine

Prepare the journal entry at September 30, 2018, to record the semi-annual bond interest payment.

c)

To determine

Prepare the adjusting entry at December 31, 2018, to record bond interest expense accrued since

September 30, 2018.

d)

To determine

Explain the reasons for that the issuing corporation charged its bond investors for interest accrued in April 2018, prior to the issuance date.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 10, Problem 8E

a)

To determine

Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

b)

To determine

Prepare the journal entry at September 30, 2018, to record the semi-annual bond interest payment.

c)

To determine

Prepare the adjusting entry at December 31, 2018, to record bond interest expense accrued since

September 30, 2018.

d)

To determine

Explain the reasons for that the issuing corporation charged its bond investors for interest accrued in April 2018, prior to the issuance date.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 10, Problem 8E

a)

To determine

Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

b)

To determine

Prepare the journal entry at September 30, 2018, to record the semi-annual bond interest payment.

c)

To determine

Prepare the adjusting entry at December 31, 2018, to record bond interest expense accrued since

September 30, 2018.

d)

To determine

Explain the reasons for that the issuing corporation charged its bond investors for interest accrued in April 2018, prior to the issuance date.

Answer 6

Chapter 10, Problem 8E

a)

To determine

Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

Answer 7

Chapter 10, Problem 8E

a)

To determine

Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

Answer 8

b)

To determine

Prepare the journal entry at September 30, 2018, to record the semi-annual bond interest payment.

Answer 9

b)

To determine

Prepare the journal entry at September 30, 2018, to record the semi-annual bond interest payment.

Answer 10

c)

To determine

Prepare the adjusting entry at December 31, 2018, to record bond interest expense accrued since

September 30, 2018.

Answer 11

c)

To determine

Prepare the adjusting entry at December 31, 2018, to record bond interest expense accrued since

September 30, 2018.

Answer 12

d)

To determine

Explain the reasons for that the issuing corporation charged its bond investors for interest accrued in April 2018, prior to the issuance date.

Answer 13

d)

To determine

Explain the reasons for that the issuing corporation charged its bond investors for interest accrued in April 2018, prior to the issuance date.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

Ch. 10 - Prob. 1STQ Ch. 10 - Prob. 2STQ Ch. 10 - Prob. 3STQ Ch. 10 - Prob. 4STQ Ch. 10 - Prob. 5STQ Ch. 10 - Prob. 6STQ Ch. 10 - Prob. 7STQ Ch. 10 - Prob. 8STQ Ch. 10 - Prob. 9STQ Ch. 10 - Prob. 10STQ

Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

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Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

Prepare the journal entry at September 30, 2018, to record the semi-annual bond interest payment.

Prepare the adjusting entry at December 31, 2018, to record bond interest expense accrued since

September 30, 2018.

Explain the reasons for that the issuing corporation charged its bond investors for interest accrued in April 2018, prior to the issuance date.

Want to see the full answer?

Chapter 10 Solutions

Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

Videos

Prepare the journal entry at April 30, 2018, to record the sale of the bonds.

Prepare the journal entry at September 30, 2018, to record the semi-annual bond interest payment.

Prepare the adjusting entry at December 31, 2018, to record bond interest expense accrued since September 30, 2018.

Explain the reasons for that the issuing corporation charged its bond investors for interest accrued in April 2018, prior to the issuance date.

Want to see the full answer?

Chapter 10 Solutions

Prepare the adjusting entry at December 31, 2018, to record bond interest expense accrued since

September 30, 2018.