Answer:
case 1)
bonds payable 24,000
loss on retirement 5,000
discount on BP 4,500
cash 24,500
case 2)
bonds payable 24,000 debit
premium on BP 1,000 debit
gain on retirement 500 credit
cash 24,500 credit
Explanation:
we are going to write off the bonds payable and their discount account
we also debit the cash account for the amount of cash outlay to retire the bond
the difference between cash and the carrying value will be the loss on retirement when lower
and a gain on retirement when higher.
case 1)
carrying value 19,500
total cash outlay (24,500)
loss on retirement (5,000)
case 2)
carrying value 25,000
total cash outlay (24,500)
gain on retrement 500
Answer:
The best explanation for the need to allocate resources in the game of economics is that:
C) There are not enough resources to produce all of the goods and services that everyone wants.
Explanation:
In economics, it has been established that human needs are insatiable and that the resources to meet the needs are not readily and sufficiently available. This is the bedrock of Economics. It is the reason that Economics is studied as a separate course. Scarcity and needs are important concepts in human interactions. Therefore, the ability to allocate scarce resources to enable the production of goods and services is key to human development.
The answer is cooperative. It is described as jointly-owned and democratically-controlled enterprise. It includes <span>non-profit community organizations. There are many types of cooperatives such as worker cooperatives, consumer cooperatives, and producer cooperatives.</span>
<span>1. When John received his W2, he received several copies. Why was he sent multiple copies of this form?
The different copies are for John and each tax return he may file
2. Who sent John this W-2?
John's employer - ProperLiving Widget Engineering & Design
3. How much did John make in wages in the 2014 tax year? (assuming this was John's only job)
I do not know
4. How much did John 'take home' in net pay? (assuming this was John's only job)
I do not know
5. How much did John save in his 401(k) in the 2014 tax year?
I do not know
6. Assume your employer provides health care insurance and deducts your portion of the premiums from your paycheck with pre-tax dollars. Are your health insurance premiums federally tax deductible?
Yes
8. Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest?
1) lower 2) higher
9. Which are tax deductible?
Student loan payments
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Appropriate channels selected is NOT a reason why a new product might fail.
