Answer:
The journal entry is as follows:
Explanation:
January 2 Accumulated Depreciation A/c..............Dr $28,000
Loss on disposal of machine A/c...........Dr $1,000
To Cash A/c.............................................Cr $1,000
To Machinery A/c...................................Cr $28,000
The company pays salvage value so cash is going out of the business, therefore, it is credited. And the salvage value will result in loss on disposal of machine so it is debited. The accumulated depreciation is debited and the account of machine is credited.
Answer:
When writing a cover letter, you should:
introduce yourself
mention the job (or kind of job) you're applying for (or looking for)
show that your skills and experience match the skills and experience needed to do the job
encourage the reader to read your resume
finish with a call to action (for example, asking for an interview or a meeting).
Keep it short. A cover letter is meant to be a summary of your resume, so don’t write more than one page.
Answer:
A.
Explanation:
Determining whether a good is normal or inferior depends on individuals. When there is a rise in the income of a person and he/she buy more of a good, it shows that good is normal. When there is a rise in a person income and there is a decrease in the demand for goods, then the product is inferior.
Therefore, it is an individual who determines whether a good is normal or inferior. Thus option A is correct.
Answer:
B,$1000
Explanation:
The price of the bond can be computed using the pv formula in excel which is given below:
=-pv(rate,nper,pmt,fv)
rate is the yield to maturity which is 8%
nper is the time horizon of the bond which is 10 years
pmt is the yearly coupon amount payable by the bond which is 8%*$1000=$80
fv is the face value of $1000
=-pv(8%,10,80,1000)
=$1000
The issue price is $1000 which is the same as par,the quick way out is that when coupon rate and yield are the same,the bond is issued at a par value of $1000
