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3 years ago

The convenience offered by digital communication needs to be weighed against and concerns.

1 answer:

8 0

The convenience offered by electronic communication needs to be weighed against security and privacy concerns. Security and Privacy encompasses the rights and obligations of individuals and organizations with respect to the collection, use, retention, disclosure, and disposal of personal information. Security and Privacy is a risk management issue for all organizations, and many are looking to CPA firms for solutions.

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Mills Corporation acquired as a long-term investment $200 million of 7% bonds, dated July 1, on July 1, 2018. Company management

Evgen [1.6K]

Answer:

investment on bonds 200 millions

premium on bonds 40 millions

cash 240 millions

to record the purchase of bonds

cash 7 millions

interest revenue 6 millions

premium on bonds 1 million

interest proceeds of december 31th

Balance sheet:

bonds 200

premium 39

net 239

cash 250 millions

investment on bonds 200 millions

premium on bonds 39 millions

gain on sale of invesment 11 millions

to record the sale of bonds

Explanation:

recording the bonds:

acquisition 240

bonds face value (200)

premium 40

It is a premium, as the bonds where purchased at higher price than face value

Interest at December 31th

To calculate the interest, we will calcualte the interest per payment:

7% annual coupon rate /2 payment per year = 3.5% semi-annual rate

5% market rate /2 payment per year = 2.5% semi-annual market rate

cash proceeds: 200 x 3.5% = 7

interest revenue:

carrying value x market rate

240 x 2.5% = 6

amortization 7 - 6 = 1

Value in the balance sheet:

the net value of the bond will be the face value plus the carrying value of the premium

Sale of the bonds:

selling price 250

carrying value of the bonds (239)

gain on sale of bonds 1 1

It is a gain, as the bonds are being sold at a higher price than his carrying value.

7 0

3 years ago

Which accounting assumption or principle is being violated if a company is a party to major litigation that it may lose and deci

joja [24]

The accounting assumption is the full disclosure. For a business, the full disclosure rule requires an organization to give the important data with the goal that individuals who are acclimated to perusing monetary data can settle on educated choices concerning the organization.
A disclosure is an extra data connected to an element's money related proclamations, normally as a clarification for exercises which have fundamentally affected the substance's monetary outcomes.

8 0

3 years ago

The company recently reported an EBITDA of $22.5 million and $5.4 million of net income. The company has $6 million interest exp

blsea [12.9K]

Answer:

Depreciation and amortization is $7.5 million

Explanation:

If the tax rate is 40%, then the net income is 60%

tax expense=net income*tax rate/60%=$5.4 million/60%*40%=$3.6 million

Depreciation and amortization=EBITDA-tax-interest-net income

EBITDA is $22.5 million

interest is $6 million

net income is $5.4 million

Depreciation and amortization=$22.5 milion-$6 million-$3.6 million-$5.4 million

Depreciation and amortization=$7.5 million

6 0

3 years ago

If someone give gift to his wife of 255000 how much is taxable

padilas [110]

I do believe that gifts to a spouse are exempt from any gift tax. So $0 is taxable.

8 0

3 years ago

Read 2 more answers

Ivory purchased a car for $24,000. The annual interest rate on the loan is 3.5%. She will make payments for 6 years. What is Ivo

Kitty [74]

11.68 $ a month, i believe thats the answer, if not its pretty close...

3 0

2 years ago

The convenience offered by digital communication needs to be weighed against​ __________ and​ __________ concerns.

The convenience offered by digital communication needs to be weighed against and concerns.