Bonds with a face amount $1,000,000, are sold at 98. The entry to record the issuance is
A) Cash 1,000,000 Premium on Bonds Payable 20,000Bonds Payable 980,000
B) Cash 980,000Premium on Bonds Payable 20,000Bonds Payable 1,000,000
C) Cash 980,000Discount on Bonds Payable 20,000Bonds Payable 1,000,000
D) Cash 980,000Bonds Payable 980,000
C
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Top managers of Boardwalk Manufacturing are alarmed by their operating losses
They are considering dropping the desktop product line. The company accountants have prepared the following analysis to help make this decision. Boardwalk Manufacturing Income Statement For the Year Ended December 31, 20XX Total Laptop Desktop Sales Revenue $930,000 $575,000 $355,000 Variable Costs 507,000 267,000 240,000 Contribution Margin 423,000 308,000 115,000 Fixed Costs: Manufacturing 375,000 225,000 150,000 Selling and Administrative 62,000 45,000 17,000 Total Fixed Costs 437,000 270,000 167,000 Operating Income (Loss) $(14,000 ) $38,000 $(52,000 ) If the company stops selling the desktop product line, the company will be able to avoid 80% of the fixed manufacturing costs and 100% of the fixed selling and administrative costs. Prepare a differential analysis to show whether Boardwalk Manufacturing should drop the desktop product line. Should the desktop product line be dropped? Explain your answer. What will be an ideal response
GIMC stands for:
A) Globally Integrated Marketing Communications B) Global and Institutional Marketing Concepts C) Generic and Institutionalized Marketing Creations D) Generating Ideas for Marketing Control