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BigorU [14]
3 years ago
12

Kingbird, Inc. issues $250,000, 10-year, 6% bonds at 96. Prepare the journal entry to record the sale of these bonds on March 1,

2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Business
1 answer:
Luden [163]3 years ago
5 0

Answer:

Kingbird, Inc. Journal entry

March 1 2017

Dr Cash (250,000*96%) 240,000

Dr Discount on bonds payable

(250,000×4%) 10,000

Bonds payable 250,000

(to record issuance of bonds)

Explanation:

Since Kingbird, Inc. issues $250,000, 10 years 6% bonds at 96 this means we have to record the transaction as issuance of bonds by Debiting Cash with (250,000*96%)240,000 and as well Debiting Discount on bonds payable with(250,000×4%) 10,000 while Bonds payable will be Credited with 250,000.

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On Joe Martin’s graduation from college, Joe’s uncle promised him a gift of $12,000 in cash or $900 every quarter for the next 4
iris [78.8K]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Option 1:

$12,000 cash now

Option 2:

$900 every quarter for 4 years.

Interest rate= 8% compounded quarterly

We need to determine the present value of option 2.

First, we need to calculate the future value of the investment. We will use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= cash flow= 900

n= 4*4= 16

i= 0.08/4= 0.02

FV= {900*[(1.02^16)-1]} / 0.02

FV= $16,775.36

Now, we determine the present value:

PV= FV/(1+i)^n

PV= 16,775.36/(1.02^16)

PV= $12,219.94

It is more profitable to accept option 2. It provides the highest present value.

4 0
3 years ago
Due to the decrease in the level of water in the lakes of Chapel Hill, the local government wants to reduce the consumption of t
Paul [167]

Answer:

The correct answer is the first option: To impose a minimun price per gallon of tap water consumed that is five cents greater thant the actual price.

Explanation:

To begin with, if the local government is looking forward to reduce the consumption of the tap water due to the decrease in the level of water in the lakes of Chapel Hill, then it must impose a minimum price per gallon of tap water consumed that is five cents greater than the actual price <u>due to the fact that when the citizens continue to consume the tap water they will have to pay 5 cents more every time the exceed the gallon of water consumed</u>, therefore <em><u>paying more than one time the 5 cents extra</u></em> in the consumption instead of paying just one single time the 5 cents due to the simple consumption of water as it is suggested in the other option.

To sum up, if the government charges 5 cents more every gallon of water then the people will decrease their consumption because everytime they passed the gallon of water then they will have to pay another extra 5 cents and so on.  

6 0
3 years ago
Yes! Assuming Economia's aggregate supply curve is upward sloping, when the aggregate demand curve shifts rightward, this will:
katovenus [111]

When the aggregate demand curve shifts rightward, this will increase Economia's real output and the price level.

<h3>What happens when the aggregate demand shifts rightward?</h3>

The aggregate demand curve is a curve that shows the total quantity of all goods and services demanded by the economy at different price levels. The aggregate demand curve slopes downward.

When  aggregate demand curve shifts to the right, there would be an increase in the real output and the price levels.

To learn more about the demand curve, please check: brainly.com/question/25140811

7 0
2 years ago
Consumers in which stage of the household life cycle are over 64 years of age; are either fully or partially retired; are health
scoray [572]

Options: A. Single 1

B. Single II

C. Empty nest I

D. Empty nest II

E. Delayed empty nest

Answer: D. Empty nest II

Explanation: Empty nest syndrome is a term used to describe the feeling of grief and loneliness which

a parent experience when their children live home for the first to some where else either to study or for work etc.

Empty nest syndrome is usually associated with Full time mother's because they are more connected to their children due to the constant Relationship between them.

Empty nest II is the loneliness or grief feelings experienced by parents after when all the children have left home and the parent now stay alone with eachother,most parents in the stage will be of ages around 64years and most are either retired or partially retired.

6 0
3 years ago
Why should small business owners understand the concept of contract modification and settlement of disputed and undisputed debts
nekit [7.7K]
They should understand when they need professional advice, they need to get it. Let the small business owner hire a tax accountant, lawyer, and subscribe to a debt collection service. (<span>Kevin k)</span>
6 0
3 years ago
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