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USPshnik [31]
3 years ago
11

On January 1, the Elias Corporation issued 10% bonds with a face value of $99,000. The bonds are sold for $97,020. The bonds pay

interest semiannually on June 30 and December 31 and the maturity date is December 31, ten years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is. a.$10,098 b.$9,900 c.$9,702 d.$1,980
Business
1 answer:
Vikentia [17]3 years ago
4 0

Answer:

c. $9,702

Explanation:

Elias Corporation has issued 10% bond the semi annual rate of bond is 10%. The 10% rate is divided by 2 to find the actual semi annual rate of interest on the bond. The rate of bond is 5%. The amount at which bond can be sold will be used to calculate interest expense of the bond.

$97,020 * 5% = $4,851

The annual interest expense will be, $4,851 * 2 = $9,702

The correct answer is c.$9,702

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ale4655 [162]

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<u>Explanation:</u>

Common stock is a distribution tool and a way to raise capital for investment, business growth or other company needs.

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The "common stock" is used mainly in the USA. These are classified as shareholdings or common shares in the United Kingdom and other Commonwealth.

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6 0
3 years ago
Sherriane Baby Products’ salaries expense was $15.1 million. Required: What is the amount of cash Sherriane paid to employees du
beks73 [17]

Answer:

Summary entry is shown below

Explanation:

The preparation of the summary entry is shown below

Salary expense $15.1 million

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(Being the salary expense is recorded)

Simply we debited the salary expense by $15.1 million as the expenses account is debited while on the other hand, the cash is paid for $9.4 million and the salary payable is credited for $5.7 million

6 0
3 years ago
A hard drive has stamped on its label: lba = 7,814,037,168. this means that it has _____.
xxMikexx [17]
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8 0
3 years ago
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mars1129 [50]

Answer:

Explanation:

Governance process for managing projects and setting priorities 

Standards of performance including consequences of non-performance

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5 0
3 years ago
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LekaFEV [45]
I believe the answer is C. budgets
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6 0
3 years ago
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