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Pepsi [2]
4 years ago
12

Hey guys if someone could help me out with the the third transaction(c), I'd be really grateful.

Business
1 answer:
geniusboy [140]4 years ago
3 0
For the third transaction the journal entry would be
Bank Dr 8000
Trade payables (LL) Cr 8000

In the balance sheet the bank account under assets would increase by 8000 and the trade payables under liabilities would increase by 8000

Note:
(LL)= lenders limited
Dr= debit
Cr= credit

Hope it helps!
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Question is in the image below! please help!
iogann1982 [59]

Based on the discount offered by Next furniture, the discounted price of a sofa would be $669.33

<h3>What is the discounted price of the sofa?</h3>

This can be found as:

= Original price x (1 - discount rate)

Solving gives:

= 999 x (1 - 33%)

= 999 x 0.67

= $669.33

Find out more on discount rates at brainly.com/question/1385340.

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6 0
2 years ago
On June 30, 20X5, Huff Corp. issued at 99, 1000 of its 8%, $1,000 bonds. The bonds were issued through an underwriter to whom Hu
Stels [109]

Answer:

$1,000,000

Explanation:

The Bond Issued less than its face value is issued on the discount. This discount is recorded and amortized until the maturity of bond.

Discount on the Bond = Face value - Issuance value = ($1,000 x 1,000) - ($1,000 x 1,000) x 99% = $1,000,000 - $990,000 = $10,000

Journal Entry

Dr.  Cash                        $990,000

Dr.  Discount on Bond  $10,000

Cr. Bond Payable          $1,000,000

Bond Liability on June 30, 20x5 is $1,000,000.

4 0
3 years ago
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How long do you have to file a complaint with osha ?
AlladinOne [14]

Answer:

Um google says 30 days

Explanation:

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3 years ago
XZYY, Inc. currently has an issue of bonds outstanding that will mature in 31 years. The bonds have a face value of $1,000 and a
Mamont248 [21]

Answer:

7.31%

Explanation:

The question is pointing at the bond's yield to maturity.

The yield to maturity can be computed using the rate formula in excel as provided below:

=rate(nper,pmt,-pv,fv)

nper is the number of times the bond would pay annual coupons which is 31

pmt is the annual coupon payment i.e $1000*8.0%=$80.00

pv is the current price of the bond which is $1,084

fv is the face value of the bond which is $1,000

=rate(31,80,-1084,1000)=7.31%

The yield to maturity is 7.31%

That is the annual rate of return for an investor that holds the bond till maturity.

3 0
3 years ago
What is an Unlimited Liability?
Anastasy [175]

Answer:

An unlimited liability corporation is a Canadian corporation designation, wherein shareholders are liable up to unlimited amounts for any liability, act or default of the corporation. By comparison, in most corporations, shareholders are not usually liable due to a limited liability model.

Explanation:

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3 years ago
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