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Hi
I remember they used to give me options for this kind of question :)
Here you go, I remember the answer is : Craft
Good luck!
Answer:
The final step is responding.
Answer:
cash 595,900 debit
bonds payable 590,000 credit
premium on bonds 5,900 credit
Explanation:
We have to record the issuance of the bonds:
<em><u>cash proceeds:</u></em>
face value x quote:
590,000 x 101/100 = 595,900
face value <u> (590,000)</u>
<em>premium </em> 5,900
<em>There is a premium as we are receiving more than we are going to pay at maturity.</em>
We will debit the cash proceeds form the bond
and credit the bonds and premium
Answer:
partnership; least
Explanation:
In partnership, two or more people join together to form a firm called partnership firms for the motive of earning profits. The partners have unlimited liability which means they are responsible for meeting debt from their personal assets in case partnership defaults.
This feature of partnership offers assurance to the creditors that their investment is safe.
So, if partnership fails, the least an investor can expect to lose on his investment.