BUSINESS HIGH SCHOOL

Jasmine Company sold $1,000,000 of 6%, 10-year bonds at 97 on January 1, 2020. The bonds were dated January 1, 2020 and pay interest on June 30 and December 31. Jasmine paid $50,000 in bond issue costs. If Jasmine uses the straight-line amortization, the amount of interest expense for year 2020 would be:__________.

Answers

Answer 1

Answer:

Answer:

$62,445

Explanation:

Discount on bond payable = ($1,000,000 / 100) x (100-97) = 30,000

Number of period = 2 x 10 = 20

Discount amortized every period = 30,000 / 20 = $1,500

Interest Expense on June 30 = (1,000,000 x 6%/2) + 1500 = $31,500

Principal Payment = $50,000 - $31,500 = $18,500

Outstanding bonds = 1,000,000 - $18,500 = $981,500

Interest Expense on December 31 = ($981,500 x 6%/2) + 1500 = $30,945

Total Interest Expense in 2020 = $31,500 + $30,945 = $62,445

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B.)a table showing the quantity demanded for a good at different prices
C.)a graph tracking the increase in demand at decreasing prices
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Answers

The correct answer is B, a table showing the quantity demanded for a good at different prices. The demand schedule shows how many people want a specific product depending on its price. For example, if a price decreases, the demand schedule will likely show an increase in quantity demanded, because more people will want something that's cheaper. It doesn't concern demographic changes on demand (which has more to do with the population than the individual), it's not a graph (but instead a table), and it's not an analytical report that shows why a change in goods is happening (instead it just shows the change itself).

The question says, which phrase defines a demand schedule. The correct option is B. A demand schedule is a table which show the quantity of goods demanded by consumers at different price level. The quantity that will be demanded can be calculated using this table if the price level is given. The demand curve is usually drawn from the demand schedule.

If the exchange rate for Mexican pesos has changed from 10 pesos to 9 pesos per dollar, _____. What is the value of the peso?

Answers

Answer:

The answer is: The Mexican peso has appreciated in relation to the dollar, and now 9 Mexican pesos can be exchanged for $1

Explanation:

Currency appreciation happens when one currency gains value related to a different currency.

In this case the Mexican peso went from 10 pesos per dollar to 9 pesos per dollar, that means that the Mexican peso appreciated by 10% [= (10 - 9) / 10] in relation to the American dollar.

If the exchange rate for mexican pesos has changed from 10 pesos to 9 pesos per dollar, The value of the Peso has increased.

Previously, you need 10 pesos to get 1 dollar.
Now, you only need 9 pesos to get 1 dollar.

This means that the value of pesos toward dollars has increased

A Weak Dollarby The Columbus Dispatch, September 7, 1999If the price of buying a car starts rising in the United States, consumers may need to look no further than the dollar's recent slide against major foreign currencies.On the other hand, economically depressed Midwestern farmers may find it easier to sell surplus grain overseas if a weak dollar makes it cheaper for foreigners to buy U.S. goods.The dollar spent much of last week on the skids, flirting with its lowest level of the year against the Japanese yen...It also has lost ground to the euro.The passage MOST LIKELY relates toA)the national debt.B)the exchange rate.C)the inflation rate.D)the stock exchange

Answers

Answer:

C) the inflation rate.

Explanation:

This article is refers to the currency exchange rate between the US dollar, the Japanese yen, and the euro.

Since the US dollar depreciated against the Japanese yen ($1 buys less yens), the price of imported cars increased. Since the US dollar lost value, American exports were cheaper, so they would naturally increase since they would be more attractive to foreign buyers. In the last part it also mentioned the euro and the similarities with the yen.

A likely outcome of increased self-knowledge is

Answers

Since there is no option, it could be :

- you get an ability to compensate your weakness

- You can spot your competition weakness

- You gain self confidence

- You are cut out to solve a wide variety of problems

On December 31st, end of current year, ABC Company needs to record 4 months of accrued interest on a loan for $10,000 at 5%. The note payable is not due for another 3 months. What is the amount of Interest Payable accrued on December 31st of the current year (round to the nearest dollar)