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Dafna1 [17]
3 years ago
9

Your company issues $50,000 of one-year, 10% bonds at face value. The journal entry to record this transaction will include a de

bit to:
A. Cash and a credit to Bonds Payable for $50,000
B. Cash for $55,000, a credit to Bonds Payable for $50,000, and a credit to Interest Payable for $5,000
C. Cash and a credit to Bonds Payable for $55,000
D. Cash for $50,000, a debit to Interest Expense for $5,000, and a credit to Bonds Payable for $55,000.
Business
1 answer:
Ostrovityanka [42]3 years ago
8 0

Answer:

A. Cash and a credit to Bonds Payable for $50,000

Explanation:

The journal entry is shown below:

Cash $50,000  

           To Bonds Payable  $50,000

(being the issuance of the bond payable is recorded)

We simply debit the cash as it increased the assets and credited the bond payable as it also increased the liabilities so that the proper posting could be done i.e $50,000 should be credited and debited

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Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions
balu736 [363]

Answer:

Gram Co.

Statement of cash flows

For the month ended May 31, 202x

Cash flows from operating activities:

Net income                                                  $5,590

Adjustments to net income:

Increase in accounts payable                    <u>     $80</u>

Net cash flow from operating activities    $5,670

Cash flows from investing activities:

Purchase of office equipment                 <u>($2,020)</u>

net cash flow from investing activities    ($2,020)

Cash flows from financing activities:

Issuance of common stock                     $43,500

Paid dividends                                         <u> ($1,600)</u>

Net cash flow from financing activities   $41,900

Net cash increase during May               $45,550

Initial balance of cash account              <u>          $0</u>

Ending balance of cash account (5/31) $45,550

Explanation:

operating cash flows:

rent expense ($2,400)

cleaning services ($780)

service revenue $5,300 + $2,400 + $3,200

assistant's salary ($790)

accounts payable increased by $80

assistant's salary ($790)

utilities bill ($550)

total revenue = $10,900

total expenses = $5,310

net income = $5,590

investing cash flows:

purchased equipment for $1,940

purchased office equipment $80

financing cash flows:

Issuance of common stock $43,500

paid dividends ($1,600)

7 0
3 years ago
________ refers to the total value of all the exports and imports of the world's nations.
Musya8 [376]
<span>World trade refers to the total value of all the exports and imports of the world's nations.</span>
3 0
3 years ago
Im thinking of a number between 1-100 who ever gets closer gets brainiest
Digiron [165]

Answer:

77

Explanation:

4 0
3 years ago
quizlet calaf’s drillers erects and places into service an off-shore oil platform on january 1, 2021, at a cost of $10,000,000.
Nostrana [21]

quizlet calaf’s drillers erects and places into service an off-shore oil platform on january 1, 2021, at a cost of $10,000,000. calaf is legally required to dismantle and remove the platform at the end of its useful life in 10 years. calaf estimates it will cost $1,000,000 to dismantle and remove the platform at the end of its useful life in 10 years. (the fair value at january 1, 2021, of the dismantle and removal costs is $450,000.) prepare the entry to record the asset retirement obligation.

Oil Platform 450,000

Asset Retirement Obligation 450,000

What is  asset retirement obligation?

An asset retirement obligation is a contractual requirement for the retirement of a tangible long-lived asset, the timing of which may depend on the occurrence of a future event outside the control of the entity bearing the obligation.

Therefore,

Oil Platform 450,000

Asset Retirement Obligation 450,000

To learn more about asset retirement obligation from the given link:

brainly.com/question/14298631

4 0
1 year ago
Angela has been working for a local small business called Personal Wellness for the last three years. It is a retail business th
GarryVolchara [31]

Answer:

Government regulations.

Explanation:

Government regulations is a law that controls the way that a business can operate, or all of these laws considered together

3 0
3 years ago
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