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1 year ago

When authorizing bonds to be issued, the board of directors does not specify the

Business

1 answer:

netineya [11]1 year ago

3 0

The Board of Directors does not define the selling price when authorizing the issuance of bonds.

An executive body that jointly manages an organization's activities is called a board of directors. This group could be a business, a nonprofit, or a government entity. It could also be for-profit. The board of directors' responsibilities and authority are governed by governmental regulations as well as the organization's own bylaws and constitution. These authority may specify the number of board members, how they will be chosen, and how frequently they will meet. The board of such an organization is accountable to and may be subordinate to the entire membership, who normally elect the board members in organizations with voting members. In a stock corporation, non-executive directors are elected by the shareholders, and the board has the following authority.

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During the year, Bears Inc. recorded credit sales of $620,000. Before adjustments at year-end, Bears has accounts receivable of

AleksandrR [38]

Answer:

Bad Debt Expense Dr. $28050

Allowance for Uncollectible accounts Cr. $28050

Explanation:

given data

credit sales = $620,000

accounts receivable = $320,000

past due = $55,000

credit balance = $2,600

rate = 7 %

rate = 22 %

solution

so here Not yet past due is = $320,000 - $55,000 -

Not yet past due = $265,000

and

past due = $55,000

so Required provision is

Required provision = $265,000 × 7 % + $55,000 × 22 %

Required provision = $30650

and

Opening balance is $2,600

Required expense for year = $30650 - $2,600

Required expense for year = $28050

so here

correct entry is

Bad Debt Expense Dr. $28050

Allowance for Uncollectible accounts Cr. $28050

8 0

3 years ago

Which system of job evaluation is being used when cards that list the duties and responsibilities of the job are arranged by rat

trasher [3.6K]

That would a be system of job ranking

8 0

3 years ago

Select examples of public goods provided to everyone by the government

bogdanovich [222]

A) protecting the country and D) public schools im sure this is the answer

3 0

3 years ago

Read 2 more answers

n a free-market system, the allocation of benefits and costs is determined primarily by a. Interaction between a private party a

ivann1987 [24]

Answer:

The answer to this question is A. Interaction between a private party and another private party

Explanation:

A free market economy, otherwise known as a capitalist economy is one that is controlled by private individuals with little or no government control.

A free or capitalist system may be defined as one in which all or most means of production are owned and controlled by private individuals and in which the economic activity of the government is at minimum.

In a capitalist economic system, private individuals play greater role than the government in taking decision about on what to produce, how to produce and the distribution of what is produced.

Hence, the allocation of benefits and costs is determined in a free market economy by A. Interaction between a private party and another private party

7 0

3 years ago

Suppose that the spot price of the euro is currently $1.30. The 1-year futures price is $1.35. Is the interest rate higher in th

valkas [14]

Answer:

The interest rate is higher in the US.

Explanation:

The forward price is calculated using the following formula,

F= S ( 1+Rd / 1+Rf)^t

where,

F = Forward rate
S = Spot rate
Rd = Nominal interest rate in domestic market
Rf = Nominal interest rate in foreign market
t = time in years

We consider that the domestic market is the US and the domestic currency is the USD. Thus, it is a direct quote where 1 EUR = 1.3 USD

The forward price ER is more than the Sport ER only when the interest rate in domestic market is more than the interest rate in foreign market and as a result, the value of domestic currency against a foreign currency in the forward market depreciates.

We can see this by the following example,

Say Spot rate is $1.3 per 1 EUR and the interest rate in US is 10% while that in Euro zone is 5%. When we calculate the forward ER we will see that 1 EUR will buy us more USD in forward (more than 1.3 USD)

F= 1.3 * (1.1 / 1.05)^1 => $1.362 PER 1EUR

3 0

3 years ago