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irakobra [83]
1 year ago
12

On January 1 of this year, Houston Company issued a bond with a face value of $ 10,000 and a coupon rate of 5 percent. The bond

matures in three years and pays interest every December 31. When the bond was issued, the annual market rate of interest was 4 percent. Houston uses the effective-interest amortization method.
Required:
(b) What amounts will be reported on the income statement and balance sheet at the end of Year 1 and Year 2?
Business
1 answer:
denis-greek [22]1 year ago
7 0

A bond amortization schedule for all three years of the bond's life

principal     10,000      

 interest paid    500      

             

             

 principal use PV of $1 at 4% for 3 years      

             

 10000 * 0.889   = 8890    

             

             

 for interest use PV of an ordinary annuity      

             

 500 * 2.77509  = 1388    

 Issue price of bonds      10278    

             

           

2) 31-Dec   Year 1 Year 2      

             

 interest expense 411 408      

 bond liability  10189 10096  

Learn more about bonds here brainly.com/question/25965295

#SPJ4

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Answer:

The answer is b. Advocacy research

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Advocacy research is carried out with the intention of providing evidence and arguments that can be used to support a particular cause or position.

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3 years ago
Today most state corporate statutes are at least partially based on the . A corporation is an artificial being, existing only in
I am Lyosha [343]

Answer:

The correct word for the blank space is: Revised Model Business Corporation Act.

Explanation:

The United States corporate laws are regulated by the Model Business Corporation Act (MBCA). The Act was born as a need for disambiguation of liabilities incurred by corporations where it was not clear if owners were personally liable for debts of the organization. Nowadays, the Revised Model Business Corporation Act (RMBCA) rules that concept and adopted some other features to bring clarity when it comes to corporate obligations.

8 0
3 years ago
The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $17,750. The bank statement indicated a balance of $
omeli [17]

Answer:

The bank reconciliation statement is as shown below:

                                                Amount in $

Balance per bank statement     33,650.00  

Deposit in transit                               9,150.00  

Outstanding check                    (17,865.00)

Bank charges                                   80.00  

Note collected                             (6,095.00)

Returned check                                (540.00)

Check drawn                             <u>   (630.00) </u>

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5 0
3 years ago
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andrew-mc [135]

Answer:

Do you need help?

Explanation:

??

8 0
2 years ago
Read 2 more answers
To make a skirt out of fabric, Connie needs 1 3/4 yards of fabric. If Connie bought 10 1/2 yards of fabric at a sale, how many s
erastovalidia [21]

Answer:

6 skirts

Explanation:

Given

1\ Skirt = 1\frac{3}{4}\ fabric

Required

Number of skirts for 10\frac{1}{2}\ fabric

Represent the required number of skirts by x

<em>To solve for this, we simply divide </em>10\frac{1}{2}<em> by </em>1\frac{3}{4}<em></em>

x = 10\frac{1}{2} / 1\frac{3}{4}

Convert to mixed numbers

x = \frac{21}{2} / \frac{7}{4}

Rewrite as multiplication

x = \frac{21}{2} * \frac{4}{7}

x = \frac{21 * 4}{2 * 7}

x = \frac{84}{14}

x = 6

<em>Hence, she could make 6 skirts</em>

7 0
3 years ago
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