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tigry1 [53]
4 years ago
6

The owner of a small color television set offers to sell it to a neighbor for $75. As the neighbor stands there thinking about t

he offer, a bystander says, “That’s a bargain. I’ok take it!” Is there a contract between the bystander and the owner
Business
1 answer:
NNADVOKAT [17]4 years ago
8 0

If he was the first to say he wanted the product and the seller wants to sell it as fast as possible than yes. But not technically it would be  a kind of verbal understanding and agreement.

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The Gorman Group issued $920,000 of 9% bonds on June 30, 2021, for $1,011,047. The bonds were dated on June 30 and mature on Jun
Mandarinka [93]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr, $1,011,047

    To bonds payable $920,000

     To Premium issue of bonds $91,047

(Being Issue of bonds at premium is recorded)

2. The completion of the table is shown below:-

Dec 31, 2018        Amount          Interest rate       Total

Interest expense  $1,011,047        4%                 $40,441.8

                                                (8% × 6 ÷ 12)

Cash                       $920,000       4.5%               $41,400

                                                (9% × 6 ÷ 12)

Amortization of premium                                       $958.2

Interest expense Dr, $40,441.8

Premium issue of bonds Dr, $9,582

     To Cash $41,400

(Being interest expense and amortization of premium is recorded)

3. Dec 31, 2018        Amount          Interest rate       Total

Interest expense   $1,010,088            4%             $40,403.5

                ( $1,011,047 - $958.2)      (8% × 6 ÷ 12)

Cash                       $920,000       4.5%               $41,400

                                               (9% × 6 ÷ 12)

Amortization of premium                                       $996.5

Interest expense Dr, $40,403.5

Premium issue of bonds Dr, $995.5

     To Cash $41,400

(Being interest expense and amortization of premium is recorded)

6 0
3 years ago
Ayayai Company issued $612,000 of 10%, 20-year bonds on January 1, 2017, at 102. Interest is payable semiannually on July 1 and
nata0808 [166]

Answer:

(a)The issuance of the bonds.

January 1, 2017, bonds are issued

Dr Cash 624,260

    Cr Bonds payable 612,000

    Cr Premium on bonds payable 12,260

(b)The payment of interest and related amortization on July 1, 2017.

July 1, 2017, first coupon payment

Dr Interest expense 30,497

Dr Premium on bonds payable 103

    Cr cash 30,600

(c)The accrual of interest and the related amortization on December 31, 2017.

December 31, 2017, accrued interest

Dr Interest expense 30,492

Dr Premium on bonds payable 108

    Cr Interest payable 30,600

Explanation:

We must first determine the market price of the bonds:

PV of face value = $612,000 / (1 + 4.88525%)⁴⁰ = $90,818.5814

PV of coupons = $30,600 x 17.43274 (PV annuity factor, 4.88525%, 40 periods) = $533,441.844

market price = $90,818.5814 + $533,441.844 = $624,260

amortization for first coupon payment:

= ($624,260 x 4.88525%) - ($612,000 x 5%) = $30,496.68194 - $30,600 = $103.31806

amortization for second coupon payment:

= ($624,156.6819 x 4.88525%) - ($612,000 x 5%) = $30,491.6143 - $30,600 = $108.3856955

6 0
3 years ago
Following are financial data for Syke and Under Shield. Syke Under Shield $ millions Current Year 1 Year prior Current Year 1 Ye
Rus_ich [418]

Answer:

For Skye - 15.85%

For under shield - 5%

Skye is using its asset more efficiently because its ROA is higher

Explanation:

Return on total assets =  Net income / Average total assets

For Skye

$3192 /  [(18,764 + 21,512)/2] = 0.1585 = 15.85%

For under shield

$ 649 / [(10,252 + 15,659)/ 2] = 0.05 = 5%

Skye is using its asset more efficiently because its ROA is higher

7 0
3 years ago
PlZ HELP!!!
Luden [163]

Answer:

B.  telemarketing

Explanation:

In the telemarketing, the company or an individual is directly in contact with its customer with respect to the product over the phone call so that they could aware of the product

In this, the face to face interaction is not done

Therefore as per the given situation, the option B is correct as in this met the criteria.

5 0
3 years ago
Read 2 more answers
1
avanturin [10]

Answer:

80 (mark)only answer this

7 0
3 years ago
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