Answer:
C and D
Explanation:
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Answer: The correct answer is "d. The income statement for a given year is designed to give us an idea of how much the firm earned during that year.".
Explanation: The statement "d. The income statement for a given year is designed to give us an idea of how much the firm earned during that year." is CORRECT because In accounting, the income statement is a financial statement that shows in an orderly and detailed way how the result of the year was obtained during a given period.
This financial statement is closed, since it covers a period during which the costs and expenses that gave rise to its income must be perfectly identified. Therefore, it must be perfectly applied at the beginning of the accounting period so that the information presented is useful and reliable for decision making.
Answer: U.S Treasury bonds
One of the main risks of investing is the risk of not getting back the amount invested. This risk is called default risk.
Income bonds, preferred stocks and subordinated debentures have default risk since there is no guarantee by the issuing companies that they will repay the principal, and interest or preferred dividends, as the case may be.
However, if an investor holds a U.S treasury bonds until maturity, the government gives a guarantee on the interest payment and principal amount. Hence the U.S treasury bonds are traditionally considered to have the least risk.
However, even U.S. treasury bonds are sensitive to inflation and interest rates.
Answer:
make sure to include where you got the information from
Answer:
Please see below and attached
Explanation:
a. What is the amount of interest payable at December 31, year 1
= $12,000 × 8% × 4/12
= $320
b. What is the amount of interest expense in year 1.
= $12,000 × 8% × 4/12
= $320
c. What is the amount of interest paid in year 1.
The amount of cash paid for interest is $0. This is because it will be made at the time of maturity in year 2.
D. Use a horizontal statements model to show how each event affects the balance sheet, income statement and statement of cash flows.
• Please find attached solution to this question.
