Answer:
Dr cash $660,000
Cr bonds payable $660,000
Dr interest expense $ 39,600.00
Cr interest payable $39,600.00
Explanation:
The issue of the bonds at face value implies that cash proceeds equal the face value of $660,000 which is then debited to cash account and credited to bonds payable.
The interest due on the bonds on 31st December payable on 1st January 2021 =face value*coupon rate
face value is $660,000
coupon rate is 6%
interest=$660,000*6%=$39,600.00
Adel could easily just pawn the watch from cash but might not have a 500$ even, I say its B.
Answer:
$14909.25
Explanation:
Given :
Recall : A round lot is any number of shares that can be evenly divided by 100 while an odd lot is any number of shares between 1 and 100.
Therefore, 300 shares will be classified as a round lot.
Commission paid on round lot = 3%
Price per share = $48.25
Share price for 300 : ($48.25 * 300) = $14,475
Commission fee = 3% * 14475 = $434.25
Total cost of stock purchase :
$(14475 + 434.25)
= $14909.25
2. prepare a type of business report called a spending report.