When a shortage occurs, some consumers are fortunate enough to benefit from a lower price if they purchase the good or service before the price increase occurs.
The following is not a primary component of an internal control system <u>Control environment .</u>
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The primary cause of inner controls is to assist safeguard an corporation and further its objectives. internal controls characteristic to limit risks and shield property, make certain accuracy of facts, sell operational efficiency, and inspire adherence to policies, rules, regulations, and legal guidelines.
Internal controls are techniques designed to help guard an enterprise and limit danger to its objectives. inner controls decrease risks and guard belongings, ensure accuracy of statistics, sell operational performance, and encourage adherence to policies, policies, policies, and laws.
Determining whether a specific internal manage machine is effective is a judgement because of an assessment of whether the five additives - manage surroundings, risk assessment, manage sports, information and communique, and tracking - are present and functioning.
Learn more about Internal controls here
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Answer:
a. $965.74
b. $939.11
Explanation:
In this question we use the Present value formula i.e shown in the attachment below:
1. Given that,
Future value = $1,000
Rate of interest = 6.5%
NPER = 4 years
PMT = $1,000 × 5.5% = $55
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the price would be $965.74
2. Given that,
Future value = $1,000
Rate of interest = 6.5%
NPER = 8 years
PMT = $1,000 × 5.5% = $55
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the price would be $939.11
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
$253,372
Explanation:
Face Value = 3,400,000
Issue Price = 3,619,600
Bond Premium = 219,600
<u>Jan 01, 2019</u>
Balance in Bond Payable = 3,400,000
Book Value of Bonds = 3,619,600
Balance in Bond Premium = 3,619,600 - 3,400,000 = $219,600
<u>30 June, 2019</u>
Interest Payment = Balance in Bond Payable Jan 1 * 16%/2 = 3,400,000 * 14%/2 = $272,000
Interest expenses = Book Value of Bonds Jan 1 * 14%/2 = 3,619,600 * 14%/2 = $253,372.
Thus, the interest expense for the six months ending July 1, 2019 is $253,372
