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4 years ago

What accounts do you use if a owner uses supplies for personal use?

1 answer:

5 0

If purchase is used for non business related or personal use then it is paid for out of personal account and not the business account. only things strictly for the business can be paid through a business account. Hope this helps! thank you!

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On May 1 of the current year, Cassandra Corp. issued $600,000 of 4% bonds payable at par with interest payment dates of April 1

postnew [5]

Answer:

Cassandra Corp.

The amount of interest expense that Cassandra should report in its income statement for the current year ended December 31 is:

= $18,000.

Explanation:

a) Data and Calculations:

Face value of bonds issued May 1 = $600,000

Proceeds from the bonds issue = 600,000

No discounts/ no premiums

Coupon and effective interest rate = 4%

Interest payment = Semiannually

Semiannual interest payment = $12,000 ($600,000 * 2%)

October 1:

Interest expense = $12,000

Interest payment = $12,000

December 31:

Interest expense = $12,000 * 3/6 = $6,000

Interest expense on December 31 = $18,000 ($12,000 + $6,000)

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3 years ago

Compensatory damages replace what was lost because of what the breaching party did and for this reason are often said to "make t

finlep [7]

The statement above is TRUE. Compensatory damages are damages that compensate the non-breaching party for loss of bargain; it is usually given to cover direct costs and losses. Because they replace what was lost, they are often said to make the person whole.

3 0

3 years ago

An example of a negative externality is: Multiple Choice o the traffic created by a city hosting a popular event. o smell of a p

Katarina [22]

Answer:

the traffic created by a city hosting a popular event

Explanation:

Negative externality is when the benefits of economic activities to third parties is less than its cost. Negative externality is a form of market failure.

The cost of the event to the city is the traffic.

I hope my answer helps you

8 0

3 years ago

Fill in the correct terms to complete the description of Mischa going through the home-buying process Mischa wants to buy a home

kotegsom [21]

Mischa needs to find Down Payment to become Eligible for a mortgage.

Getting a mortgage on a house can be a life-changing experience. For the next 20-30 years you will need to make a mortgage payment every month.

However, before you are able to get a mortgage you need to have a good credit history and you need to make some form of a down payment.

This can be typically 10-20% of the value of the house. Without this, you cannot mortgage as the bank requires you to put some money upfront.

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3 years ago

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Write the Definition in your own words <br>Cash Basis of Accounting:

zmey [24]

Cash basis of accounting is the one that recognizes when cash has been paid and received unlike accrual basis.

<h3>What is cash basis of accounting?</h3>

Cash basis of accounting is the one that recognizes when revenue when received unlike accrual basis.

It is important to know that cash basis of accounting ensures the company always knows how much cash flow it has.

Learn more about cash basis of accounting here: brainly.com/question/20397933

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2 years ago

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