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The ideal, initial step leading to implementation of an effective employee communications program should begin with

Lyrx [107]

<span>Should begin with immediate and effective comments/responses from all employees. There should then be meetings held to discuss the findings and to elaborate on what can be done to begin forming an effective communications program for all employees.</span>

8 0

3 years ago

g On the first day of its fiscal year, Chin Company issued $10,000,000 of five-year, 7% bonds to finance its operations of produ

Elis [28]

Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

Total Years = 5, semiannually = 5 × 2 = 10

Rate = 7% yearly, semiannually rate = 7 ÷ 2 = 3.5%

Journal Entries

On Jan 1

Cash A/c Dr. $9,594,415

Discount on bonds payable A/c Dr. $405,585

To Bonds payable A/c $10,000,000

(Being the issuance of bond payable is recorded)

Discount value of issued bonds = $10,000,000 - $9,594,415 = $405,585

2).

On Jun

Interest expenses A/c Dr. $390,559

Discount on bonds payable A/c($405,585 ÷10) Dr.40,559

To Cash A/c($10,000,0000 × 3.5%) $350,000

(Being the payment of first semiannual interest is recorded)

3).

On Dec 31

Interest expenses A/c Dr. $390,559

Discount on bonds payable A/c($405,585*10/100) Dr.$40,559

To Cash A/c($10,000,000*3.5/100) $350,000

(Being the payment of second semiannual interest is recorded)

b). Bond Interest Expense Amount for First Year

= Interest Expenses + Amortized Discount

= $700,000 + $81,117

= $781,117

Interest expenses = $350,000 + $350,000 = $700,000

Amortized Discount = $40,559 + $40,559 = $81,117

c).The Company issued the bonds at $9,594,415 for the face amount of $10,000,000 because bonds issued at discount for $405,585 as the coupon rate is less than the market interest.

4 0

3 years ago

Supplies are assets until they are used. When they are used up, their costs are reported as expenses. The costs of unused suppli

mezya [45]

Question Completion:

Describe the accounting treatment of Supplies Expenses.

Answer:

Supplies Expenses are debited while the Supplies account is credited with the supplies expenses.

Explanation:

This accounting treatment of Supplies Expenses reduces the balance of the Supplies account by the amount of supplies used during the period. Thus, what is left in the Supplies account is the cost of the unused supplies at the end of the accounting period. The treatment also accords with the accrual concept, which requires that expenses are matched to the revenues that they generate in the period.

7 0

3 years ago

on august 1, paid $72,000 cash to purchase houtte's 9%, six-month debt securities ($72,000 principal), dated august 1.

Kitty [74]

Here short term investment is debited as it increased the asset and credited the cash as decreased the asset.

here cash is debited as it increased the asset and credited the interest revenue as it also increased the revenue.

What Are Short-Term Investments?

Marketable securities, commonly referred to as temporary investments or short-term investments, are financial investments that can be quickly converted to cash, usually within five years.
After only three to twelve months, many short-term investments are sold or turned into cash. CDs, money market accounts, high-yield savings accounts, government bonds, and Treasury bills are a few typical examples of short-term investments.
Short-term investments, also known as marketable securities or temporary investments, are financial investments that can be easily converted to cash, typically within 5 years.
Typically, these investments are high-quality and highly liquid assets or investment vehicles.
Short-term investments may also specifically refer to financial assets of a similar kind, but with a few additional requirements, that are owned by a company.

To know more about Short-term investment visit:

6 0

1 year ago

Sydney saved $10,000 during her first year of work after college and plans to invest it for her retirement in 40 years. how much

Yuliya22 [10]

Given:
P = $10,000, the principal
t = 40 yers, time duration
r = 8% = 0.08, the interest rate
Assume that
n = 12, monthly compounding.

The value after 40 years is
$A=P(1+ \frac{r}{n} )^{nt}$
nt = 12*40 = 480
1 + r/n = 1 + 0.08/12 = 1.0066667
A = 10000*1.0066667⁴⁸⁰ = $242,737.71

Answer: $242,737.71

3 0

3 years ago