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kolbaska11 [484]
3 years ago
13

tamara has $500 she is looking to save for a class trip. She wants to earn the most possible interest and will not need access t

o her money for a full year. Which type of saving accounts will be best for tamara?
Business
1 answer:
tamaranim1 [39]3 years ago
3 0
The answer is B i hope this helps you

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The following appeared in the October 15, 2021, issue of the Financial Smarts Journal:
larisa [96]

Answer:

1. The market rate of interest is higher than 7.75% when the Craft Foods bonds were issued.

2. Debit Cash for $746,700,000; Dbit Discount on bond payable for $3,225,000; Debit Bond issue cost for $75,000; and Credit Bond payable for $750,000,000.

Explanation:

1. Based on the information provided in the announcement, indicate whether the market rate of interest is higher or lower than 7.75% when the Craft Foods bonds were issued.

From the information provided, it can be observed that the face value of this bond is 100% but it is issued at 99.57% price. Since the issue price of 99.57% is less than the face value, this implies that the bond is issued at a discount.

When a bond is issued at a discount, it indicates the stated interest rate is lower than the market interest rate.

Therefore, the market rate of interest is higher than 7.75% when the Craft Foods bonds were issued.

2. If debt issue costs were $75,000 and the bonds were issued on an interest payment date, what entry did Craft use to record the sale?

Before the journal entry is prepared, the following are first calculated:

Proceeds from bond issue = Bond price * Total face value = $750,000,000 * 99.57% = $746,775,000

Discount on bond = Total face value - Proceeds from bond issue = 750,000,000 - $746,775,000 = $3,225,000

Cash = Proceeds from bond issue - Debt issue costs = $746,775,000 - $75,000 = $746,700,000

The journal entry will now look as follows:

<u>Description                                 Debit ($)                Credit ($)      </u>

Cash                                        746,700,000

Discount on bond payable        3,225,000

Bond issue cost                               75,000

  Bond payable                                                      750,000,000

<u><em>(To record bond issue at a discount.)                                               </em></u>

3 0
3 years ago
On March 15, a fire destroyed Interlock Company's entire retail inventory. The inventory on hand as of January 1 totaled $4,950,
lana [24]

Answer: Option (c) is correct.

Explanation:

Gross profit of 30% means that every $1 of Sales require $0.7 of inventory and cost of freight.

So, inventory used to generate sales of $3,630,000:

= $3,630,000 x 0.7

= $2,541,000

Total inventory during the period:

= Beginning inventory + Purchases

= $4,950,000 + $2,049,000

= $6,999,000

Remaining Inventory:

= (Total inventory - Inventory used to generate sales) + freight-in

= ($6,999,000 - $2,541,000) + $234,000

= $4,692,000

6 0
3 years ago
Media richness most directly refers too
Marat540 [252]
The media richness most directly denotes to the number of helpful cues and abrupt feedback a medium provides or the data carrying capacity of a communication medium. In addition, the early computer-mediated communication theory named the media richness theory absorbed on categorizing each medium conferring to the difficulty of the messages it handles proficiently. 
4 0
3 years ago
Take a look around your house and identify household products that work by means of an enzyme. name the products, and indicate h
vredina [299]
Enzymes are biological catalysts that increase the rate of chemical reactions without being used up. The most common enzyme types used in the Household care industry are proteases (example: powder labelled as meat tenderizer which reduces meat's toughness.<span>, cleaning agents,...) .E</span><span>nzymes found in some toothpastes include papain (claimed to help whiten teeth) and lysozyme (kills bacteria).</span>
6 0
3 years ago
The House Subcommittee on Oversight and Investigations made its recommendations after looking into failures at each of the follo
zubka84 [21]

Answer:

The correct answer is ENRON.

Explanation:

Going back to December 2, 2001, is going back to one of the biggest scandals in economic history. That day, the energy company Enron declared bankruptcy. First global energy distributor, invoiced 100,000 million dollars annually.

Jeffrey Skilling, the mind behind accounting, did his last master move badly. Before the bankruptcy they were seen coming, he resigned his position alleging family reasons and sold the shares he had in the company. Four months later came bankruptcy. Supposedly, he didn't know anything about the critical situation of the company. He did not strain.

In 2004 he was charged with about thirty charges, including operating with confidential information, by selling about 60 million dollars in Enron shares before bankruptcy, deceiving the auditor or conspiracy.

7 0
3 years ago
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