1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alinara [238K]
3 years ago
10

On January 1, 2020, Sheffield Company purchased at face value, a $1230, 10% bond that pays interest on January 1. Sheffield Comp

any has a calendar year end. The adjusting entry on December 31, 2020, is:
Business
1 answer:
kupik [55]3 years ago
4 0

Answer:

Dr Interest receivable 123

    Cr Interest revenue 123

Explanation:

Since Sheffield Company purchased the bonds at face value, all they need to report is accrued interest receivable. Since the interest is paid on January 1, they already have earned a year worth of interest.

Dr Interest receivable 123 (= $1,230 x 10%)

    Cr Interest revenue 123

The next day, January 1, you will need to record the interest received:

Dr Cash 123

    Cr Interest receivable 123

You might be interested in
What can you say about entrepreneur?​
zalisa [80]
An entrepreneur is a person who starts a business and is willing to risk loss in order to make money” or “one who organizes, manages, and assumes the risks of a business or enterprise.”
6 0
3 years ago
Read 2 more answers
Which of the following is true of options? a. ​More than one of these. b. ​The writer pays the buyer the option premium. c. ​The
babymother [125]

Answer:

B

Explanation:

3 0
2 years ago
What is the price of a share of common stock that has an expected dividend of $3.00, a tax rate of 30%, a required return of 15%
Semmy [17]

Answer:

Current price of the share common stock will be $30

So option (c) will be correct answer

Explanation:

We have given expected dividend D_1=$3

Required rate of return = 15 % = 0.15

Tax rate = 30 %

Growth rate = 5 %

Beta = 2

We have to find the price of the share

Price of the share is given by p_0=\frac{D_1}{R_E-g}=\frac{3}{0.15-0.05}=$30

So current price of the share stock will be equal to $30

So option (C) will be correct answer

3 0
3 years ago
A decrease in supply would best be reflected by a change from
Sergeu [11.5K]

When there is a decrease in supply, it would be reflected by a change from Curve A to Curve C.

<h3>How are supply decreases reflected?</h3>

When supply decreases, it leads to the supply curve shifting to the left to show that there is a lesser quantity available.

In the graph therefore, a decrease in supply would be shown as a shift from Curve A to Curve C or Curve B to Curve A.

Find out more on decreases in supply at

#SPJ12

6 0
2 years ago
Custom Quilters makes decorative comforters, quilted garments, and other products in a small sewing factory. The company expects
Goryan [66]

Answer:

Indirect and fixed

Explanation:

Indirect costs are those cost which cannot be directly attributable to any product.

Fixed costs are those which remains the same in the period whatever the level of activity (production, sales etc.) is. It does not vary with the change in the activity level.

Supervisor salaries cannot be traceable directly to any specific product, so it is considered as the indirect cost. As the Salaries are fixed payments made on monthly or annually basis, So it is also classified as the fixed cost.

6 0
3 years ago
Read 2 more answers
Other questions:
  • 2. In what ways are the following three initial assessment methods similar and in what ways are they different: application blan
    10·1 answer
  • Gwen, an independent consultant, traveled to New York City on a business trip. Gwen spent 4 days in business meetings and confer
    5·1 answer
  • During January, the following selected transactions occurred.
    12·1 answer
  • Mauve company permits employees to occasionally use the copying machine for personal purposes. the copying machine is located in
    15·1 answer
  • McCurdy Co.'s Class Q bonds have a 12-year maturity, $1,000 par value, and a 5.75% coupon paid semiannually (2.875% each 6 month
    6·1 answer
  • Indigo Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the fir
    8·1 answer
  • James Frank has been put in charge of gathering marketing intelligence, disseminating it within his organization, and eventually
    9·1 answer
  • Menthorp Inc. wants to design a variable-pay plan that fosters teamwork and business knowledge of its employees. In order to ens
    10·1 answer
  • The provision in a listing contract that gives additional authority to the broker and obligates the broker to distribute the lis
    11·1 answer
  • Derick wants to purchase an existing business in the service industry. However, he does not want to use the traditional sources
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!