George's Hamburgers issued 5â%, â10-year bonds payable at 85 on Decemberâ 31, 2016. At Decemberâ 31, 2018, George reported the bonds payable asâ follows: Long-term Liabilities:
Bonds Payable $300,000
Less: Discount on Bonds Payable 36,000 $264,000
George's pays semiannual interest each June 30 and December 31.â(Assume bonds payable are amortized using theâ straight-line amortizationâ method.)
Requirement 1. Answer the following questions about
George's bondsâ payable:
a. What is the maturity value of theâbonds?â
b. What is the carrying amount of the bonds at Decemberâ 31, 2018â?

c. What is the semiannual cash interest payment on theâ bonds?
â
d. How much interest expense should the company record eachâ year?
â
Requirement 2. Record the Juneâ 30, 2018â, semiannual interest payment and amortization of the discount.â(Record debitsâ first, then credits. Select the explanation on the last line of the journal entryâ table.)

Abenefit of using a debit or credit card instead of cash is that it provides a paper record of a purchase. looking at the purchases below, which one should be made using a credit or a debit card?

Alandowner entered into a written agreement with a real estate broker whereby the broker would receive a commission of 10% of the sale price if he procured a "ready, willing, and able buyer" for the landowner's property and if the sale actually proceeded through closing. the broker found a buyer who agreed in writing to buy the property from the landowner for $100,000, the landowner's asking price. the buyer put up $6,000 as a down payment. the agreement between the landowner and the buyer contained a liquidated damages clause providing that, if the buyer defaulted by failing to tender the balance due of $94,000 at the closing date, damages would be 10% of the purchase price. the landowner included that clause because she was counting on using the proceeds of the sale for a business venture that would likely net her at least $10,000. the buyer became seriously ill and defaulted. when he recovered, he demanded that the landowner return his $6,000, and the landowner refused. the broker also demanded the $6,000 from the landowner and was refused. the broker and the buyer filed separate suits against the landowner, with the buyer pleading impossibility of performance. the two cases are consolidated into a single case. how should the court rule as to the disposition of the $6,000?

The production manager of rordan corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st quarter 2nd quarter 3rd quarter 4th quarter units to be produced 10,800 8,500 7,100 11,200 each unit requires 0.25 direct labor-hours, and direct laborers are paid $20.00 per hour. required: 1. prepare the company’s direct labor budget for the upcoming fiscal year. assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. 2. prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. instead, assume that the company’s direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 2,500 hours of work each quarter. if the number of required direct labor-hours is less than this number, the workers are paid for 2,500 hours anyway. any hours worked in excess of 2,500 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor.