Answer:
a letter issued by a bank to another bank to serve as a guarantee for payments made to a specified person under specified conditions.
Explanation:
Answer:
<h2>
a. The Preferred stock is noncumulative.</h2>
Preferred stock
= 7,710 * 17.5 * 8%
= $10,794
Per share
= 10,794/7,710
= $1.40
Common Shareholders.
= 63,800 - 10,794
= $53,006
Per share
= 53,006/49,000
= $1.08
<h2>
b. Preferred stock is cumulative. </h2>
This means that if preferred dividends are not paid in a year, they will be accrued and paid when they can.
Preferred stock
= 7,710 * 3 years (2017,2018,2019)
= $23,130
Per share = 23,130/7,710
= $3
Common stock
= 63,800 - 23,130
= $40,670
Per share
= 40,670/49,000
= $0.83
c. Why were the dividends per share of common stock less for the cumulative preferred stock than the noncumulative preferred stock?
b. The dividends in arrears on the preferred stock had to be fulfilled before dividends could be paid for the current year.
The minimum amount of money you may have in an account for said account to be, and stay opened.
Answer:
A. 2
B. May 1, 2021
Dr Cash $94,600
Cr Deferred revenue $89,870
Cr Deferred revenue-coupons $4,730
C. May 1, 2021
Dr Cash $94,600
Cr Deferred Revenue $94,600
Explanation:
A. Based on the information given the numbers of PERFORMANCE OBLIGATIONS that are in this contract is 2 which are:
KEYBOARD and CUSTOMER OPTION FOR FUTURE DISCOUNT
B. Preparation of the journal entry that Meta would record on May 1, 2021.
May 1, 2021
Dr Cash $94,600
Cr Deferred revenue $89,870
($94,600-$4,730)
Cr Deferred revenue-coupons $4,730
(5%*$94,600)
C. Preparation of the journal entry that Meta would record on May 1, 2021
May 1, 2021
Dr Cash $94,600
Cr Deferred Revenue $94,600
Answer:
<em>Options Include:</em>
A. $20,000
B. $16,800
C. $18,200
<em>D. $21,800 is Correct</em>
Explanation:
Interest income for a bond provided at a discount is equal to the total of both the periodic cash flows as well as the value of the amortized bond discount during the interest duration.
Periodic cash flows are equivalent to $20,000 ($500,000 death benefit multiply by 8 percent coupon rate multiply 1/2 year). The amortization for the discount is provided as $1,800.
<em>Income for the six-month period from July 1 to December 31, Year 4, is therefore $21,800 ($20,000 + $1,800).</em>