Answer:
$80,000
Explanation:
Given:
Amount issued by the Bentley Corporation = $1,000,000
Duration = 10 years
Interest rate on the bods = 8% annually
Market rate of interest = 7% annually
Now,
the interest charged will at the rate on the bonds i.e 8%,
therefore,
the Interest expenses = Rate × Amount issued
on substituting the respective values, we get
the Interest expenses = 0.08 × $1,000,000
or
the Interest expenses = $80,000
Answer:
what i don't understand the question
Answer:
The answer and procedures of the exercise are attached in the following archives.
Explanation:
The first part of the journal entry would record the expenses as the receipt. Hence the expense account would be a debit. A corresponding entry would be a credit to the cash account to record the receipt of such expenses. This is done basis the basic accounting rule that increase in the asset and expense account signifies as debit and vice versa whereas increase in the liability and revenue account would be regarded as the credit.
The second journal entry would increase the petty cash account by $50 to raise the balance of existing petty cash from $280 to $330. A corresponding effect would be a credit to the cash account.
Answer:
The correct answer is C. Fraud is the intentional misrepresentation of facts made for the purpose of persuading another individual to act in a way that causes injury or damage to that individual.
Explanation:
In the broadest sense, fraud can encompass any crime for profit that uses deception as its main modus operandi. More specifically, fraud is defined by the Black's Law Dictionary as:
"A false statement knowing the truth or the concealment of a material fact for the Fraud Scheme to induce another to act at its expense."
Consequently, fraud includes any intentional or deliberate act of depriving another of property or money by cunning, deception, or other unfair acts.
Fraud can compromise a company, either internally by employees, managers, officers or owners of the company, or externally by customers, suppliers and other parties. Other ways to defraud people, rather than companies.
Answer:
see below
Explanation:
This transaction is affecting sales. It is increasing sales( revenue account) by Rs 20,000. An increase in sales is recorded by crediting the sales account.
The goods are sold to Mahesh. It is an increase in accounts receivable ( asset account). An increase in assets is recorded as a debit to the asset account.
The Journal will be as follows.
Mahesh A/c Dr. Rs. 30,000
Sales A/c Cr. Rs.20,000
