The cash proceeds of Garcia Company from the issuance of 10%, 15 year bonds with par value of $240,000 with semi-annual payments.

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Answer 1

Question

Chapter 14, Problem 17QS

Requirement-1:

To determine

The cash proceeds of Garcia Company from the issuance of 10%, 15 year bonds with par value of $240,000 with semi-annual payments.

Requirement-2:

To determine

The amount of bond interest expense that is recognized over the life of 15 years bond issued by the Garcia Company having semi-annual payment of interest.

Requiremet-3:

To determine

The amount of interest expense on bonds issued that is recorded on the first interest payment date.

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Reciprocal Method Eilers Company has two producing departments and two support departments. The following budgeted data pertain to these four departments: Support Departments Producing Departments General Factory Receiving Assembly Finishing Direct overhead $400,000 $150,000 $45,000 $71,000 Square footage 2,700 5,400 5,400 Number of receiving orders 300 1,680 1,020 Direct labor hours 25,000 40,000 Required: 1. Allocate the overhead costs of the support departments to the producing departments using the reciprocal method. (Round allocation ratios to two decimal places. Round allocated costs to the nearest dollar. If an amount is zero, enter "0".) Allocation ratios: Square footage General Factory Receiving Assembly Finishing 0 0 Number of receiving orders 0.10 0 0.56 0.34 Allocations: Direct overhead cost General Factory Receiving Total General Factory Receiving Assembly Finishing $ $ $ $ 400,000 150,000 45,000 71,000 $ $ $ $ 2. Using direct labor hours, compute departmental overhead…

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Windsor Fabrication estimates its manufacturing overhead to be $720,000 and its direct labor costs to be $600,000 for year 5. Windsor worked three jobs for the year. Job 5-1, which was sold during year 5, had actual direct labor costs of $180,000. Job 5-2, which was completed but not sold at the end of the year, had actual direct labor costs of $270,000. Job 5-3, which is still in work-in-process inventory, had actual direct labor costs of $150,000. The actual manufacturing overhead for year 5 was $700,000. Manufacturing overhead is applied on the basis of direct labor costs. a) How much overhead was applied to each job in year 5? b) What was the over- or underapplied manufacturing overhead for year 5?

Answer 2

Question

Chapter 14, Problem 17QS

Requirement-1:

To determine

The cash proceeds of Garcia Company from the issuance of 10%, 15 year bonds with par value of $240,000 with semi-annual payments.

Requirement-2:

To determine

The amount of bond interest expense that is recognized over the life of 15 years bond issued by the Garcia Company having semi-annual payment of interest.

Requiremet-3:

To determine

The amount of interest expense on bonds issued that is recorded on the first interest payment date.

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Answer 3

Question

Chapter 14, Problem 17QS

Requirement-1:

To determine

The cash proceeds of Garcia Company from the issuance of 10%, 15 year bonds with par value of $240,000 with semi-annual payments.

Requirement-2:

To determine

The amount of bond interest expense that is recognized over the life of 15 years bond issued by the Garcia Company having semi-annual payment of interest.

Requiremet-3:

To determine

The amount of interest expense on bonds issued that is recorded on the first interest payment date.

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Answer 4

Question

Chapter 14, Problem 17QS

Requirement-1:

To determine

The cash proceeds of Garcia Company from the issuance of 10%, 15 year bonds with par value of $240,000 with semi-annual payments.

Requirement-2:

To determine

The amount of bond interest expense that is recognized over the life of 15 years bond issued by the Garcia Company having semi-annual payment of interest.

Requiremet-3:

To determine

The amount of interest expense on bonds issued that is recorded on the first interest payment date.

Expert Solution & Answer

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Answer 5

Chapter 14, Problem 17QS

Requirement-1:

To determine

The cash proceeds of Garcia Company from the issuance of 10%, 15 year bonds with par value of $240,000 with semi-annual payments.

Requirement-2:

To determine

The amount of bond interest expense that is recognized over the life of 15 years bond issued by the Garcia Company having semi-annual payment of interest.

Requiremet-3:

To determine

The amount of interest expense on bonds issued that is recorded on the first interest payment date.

Answer 6

Chapter 14, Problem 17QS

Requirement-1:

To determine

The cash proceeds of Garcia Company from the issuance of 10%, 15 year bonds with par value of $240,000 with semi-annual payments.

Answer 7

Chapter 14, Problem 17QS

Requirement-1:

To determine

The cash proceeds of Garcia Company from the issuance of 10%, 15 year bonds with par value of $240,000 with semi-annual payments.

Answer 8

Requirement-2:

To determine

The amount of bond interest expense that is recognized over the life of 15 years bond issued by the Garcia Company having semi-annual payment of interest.

Answer 9

Requirement-2:

To determine

The amount of bond interest expense that is recognized over the life of 15 years bond issued by the Garcia Company having semi-annual payment of interest.

Answer 10

Requiremet-3:

To determine

The amount of interest expense on bonds issued that is recorded on the first interest payment date.

Answer 11

Requiremet-3:

To determine

The amount of interest expense on bonds issued that is recorded on the first interest payment date.

Answer 12

Expert Solution & Answer

Answer 13

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Answer 14

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Answer 15

Ch. 14 - Prob. 1DQ Ch. 14 - Prob. 2DQ Ch. 14 - Prob. 3DQ Ch. 14 - Prob. 4DQ Ch. 14 - Prob. 5DQ Ch. 14 - Prob. 6DQ Ch. 14 - Prob. 7DQ Ch. 14 - Explain the concept of accrued interest on bonds...Ch. 14 - Prob. 9DQ Ch. 14 - Prob. 10DQ

The cash proceeds of Garcia Company from the issuance of 10%, 15 year bonds with par value of $240,000 with semi-annual payments.

The cash proceeds of Garcia Company from the issuance of 10%, 15 year bonds with par value of $240,000 with semi-annual payments.

The amount of bond interest expense that is recognized over the life of 15 years bond issued by the Garcia Company having semi-annual payment of interest.

The amount of interest expense on bonds issued that is recorded on the first interest payment date.

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