Entries by mary WAMBUGU

On June 1, 2019 Adelphi Corporation issued $215,000 of 6%, 5-year bonds. The bonds which were issued at 103, pay interest on January 1 and June 1

August 22, 2019 in /by

Question 1.On June 1, 2019 Adelphi Corporation issued $215,000 of 6%, 5-year bonds.  The bonds which were issued at 103, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is […]

 

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For the FY 2018, Frederick Company had net sales of $1,100,000 and net income of $55,000, paid income taxes of $30,000, and had before tax interest expense of $17,500.

August 22, 2019 in /by

6.)  For the FY 2018, Frederick Company had net sales of $1,100,000 and net income of $55,000, paid income taxes of $30,000, and had before tax interest expense of $17,500. Use this information to determine the Times Interest Earned Ratio. (Round your answers to one decimal place) 7.) The following financial information is for Annapolis Corporation are for the fiscal […]

 

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During FY 2019, Dorchester Company plans to sell Widgets for $10 a unit. Current variable costs are $5 a unit and fixed costs are expected to total of $112,000.

August 22, 2019 in /by

11.) During FY 2019, Dorchester Company plans to sell Widgets for $10 a unit. Current variable costs are $5 a unit and fixed costs are expected to total of $112,000. Use this information to determine the dollar value of sales for Dorchester to breakeven. (Round to the nearest whole dollar) 12.) Baltimore Company uses a job […]

 

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On March 1, 2019, Baltimore Company’s beginning work in process inventory had 7,000 units. This is its only production department.

August 22, 2019 in /by

16.) On March 1, 2019, Baltimore Company’s beginning work in process inventory had 7,000 units. This is its only production department. Beginning WIP units were 50% completed to conversion costs. Baltimore introduces direct materials at the beginning of the production process. During March, a total of 27,200 units were started and the ending WIP inventory had […]

 

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