Answer:
a. Daniel must recognize $300 interest income for 2017 and a $200 gain on the sale of the bond in 2018
Explanation:
Since the interest was collected of $600 and the accrued interest is $300, so the remaining amount $300 reflect the interest income
And, the sale value of the bond is $10,200 without considering the interest collection and its purchase price without considering the accrued interest is $10,000. So, after comparing the purchase price and the sale price the gain of $200 would be determined
$10,200 - $10,000 = $200
Answer:
Goals and set objectives
Explanation:
The reason is that the long term strategic planning is basically long term planning of the organization and in it we set a direction or in other words list number of objectives that we want to achieve in the long run. So long term strategic plans helps us to achieve goals and set objectives.
Answer:
The Journal entry are as follows:
(i) On January 2, 2017
Accounts receivable A/c Dr. $381,000
To Sales revenue $342,000
To unearned service revenue $39,000
(To record the sale of goods)
(ii) On January 2, 2017
Cost of goods sold A/c Dr. $293,000
To Inventory A/c $293,000
(To record the cost of goods sold)
Answer:
The flexible budget for sales = $195,000
Explanation:
<em>A flexible budget is that which is prepared for actual level of activity achieved. It is used for control purpose to determine how where the a business is doing in terms of performance .</em>
The flexible budgeted is usually prepared at the end of the period to which it relates. In other words, it is prepared in retrospect. And it uses the assumptions of the fixed budget.
The flexible budget for sales = actual sales in units × Standard selling price
= 15,000× $13.00 = $195,000
The flexible budget for sales = $195,000
Answer:
B. has a higher market price per dollar of earnings than does one share of Turner's.
Explanation: