To record final annual interest and bond repayment:
2017
Mar 1
Bonds interest expense $25,400
Bonds payable $254,000
Cash $279,000
On March 1, 1997, the date of issuance, the entry is:
1997
Mar 1
Cash $254,000
Bonds payable $254,000
On each March 1 for 10 years, beginning March 1, 1997 (ending March 1, 2017), the entry would be (Remember, calculate interest as Principal x Interest Rate x Time)
Mar 1
Bond Interest Expense ($100,000 x 12% x 1) $25,400
Cash $25,400
Answer:
Gain $72,480
Explanation:
Calculation for the amount of gain or loss that Sheffield should recognize on the exchange
Using this formula
Gain/Loss= Book value – Fair value
Let plug in the formula
Gain/Loss= $978,480 – $906,000
Gain=$72,480
Therefore the amount of gain or loss that Sheffield should recognize on the exchange will be $72,480
Answer:
d. All of the above
Explanation:
Government regulations are the rules that players in an industry must abide by. In a free-market economy like the US, the government's main role is to regulate economic activities. The government enforces regulation through its various agencies.
The areas of regulations include but are not limited to
- Protecting consumers from undue exploitation by businesses,
- Encourage fair business competition
- Promote a healthy, safe work environment for employees
- Promote and sustain a clean environment
- Private data protection and security
Answer:
b
Explanation:
Form utility is a type of nullity that occurs as a result of the design of the product or service itself.
Time utility exists when a company makes a good or service available to consumers at the time that is most desirable or convenient for them.
Possession utility is utility derived from owning a product
