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mylen [45]
3 years ago
15

Oriole Company issues $200,000, 20-year, 9% bonds at 104. Prepare the journal entry to record the sale of these bonds on June 1,

2020
Business
1 answer:
user100 [1]3 years ago
3 0

Answer:

Dr Cash $208,000

Cr Bonds payable $200,000

Cr Premium on bonds payable $8,000

Explanation:

Preparation of the journal entry to record the sale of these bonds on June 1,

Based on the information given we were told that the company issues the amount of $200,000 at 104 which means the that the journal entry to record the sale of these bonds on June 1 will be:

Dr Cash $208,000

(2,000 × $104)

Cr Bonds payable $200,000

(2,000 × $100)

Cr Premium on bonds payable $8,000

(2,000 ×$4)

Note:-

$200,000/100 =$2,000

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Nicole is considering opening a Roth Individual Retirement Account. If she invests into the Roth IRA, determine the amount in th
Mamont248 [21]

The future amount in the account (Roth IRA) is equal to: D. $180,488. 86.

<u>Given the following data:</u>

  • Principal = $4,291
  • Interest rate = 2.23%
  • Time = 30 years

To determine the future amount in the account:

Mathematically, the compound interest for this Roth IRA is given by the formula:

A = \frac{P(1\;+\;r)^t -1}{r}

<u>Where:</u>

  • P is the principal.
  • r is the interest rate.
  • t is the number of years.
  • A is the future amount.

Substituting the given parameters into the formula, we have;

A = \frac{4291(1\;+\;0.0223)^{30} -1}{0.0223}\\\\A = \frac{4291(1.0223)^{30} -1}{0.0223}\\\\A = \frac{4291(1.93798684094 -1}{0.0223}\\\\A = \frac{4291(0.93798684094)}{0.0223}\\\\A = \frac{4024.901534474}{0.0223}

A = $180,488.86

Read more on compound interest here: brainly.com/question/25263325

6 0
2 years ago
Elize’s regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January
saveliy_v [14]

Answer:

(a) Debit Wages expense for $950; Credit Federal income tax withholding for $94; and Credit Wages payable for $856

(b) Debit wages payable for $856; and Credit Cash for $856.

Explanation:

The entries will look as follows:

a) Prepare the journal entries to record Elize’s pay for the period

<u>Date           Account title                                 Dr ($)          Cr ($)      </u>

Jan 15        Wages expense (w.3)                    950

                    Federal income tax withholding                      94

                    Wages payable (w.4)                                      856

<em><u>                    (To Elize’s pay for the period.)                                        </u></em>

(b) Prepare the journal entry to record the payment of Elize’s wages.

<u>Date           Account title                                 Dr ($)          Cr ($)      </u>

Jan 15        Wages payable (w.4)                      856

                  Cash                                                                   856

<u><em>                   (To record the payment of Elize’s wages.)                        </em></u>

Workings:

Normal hours = 40

Number of hours worked = 45

Overtime hours = Number or hours worked - Normal hours = 45 - 40 = 5

Normal hourly wage rate = $20

Overtime hourly rate = $30

Federal income tax withholding = $94

w.1: Normal wage amount = Normal hours * Normal wage rate = 40 * $20 = $800

w.2: Overtime pay = Overtime hours * Overtime hourly rate = 5 * $30 = $150

w.3: Wages expense = Normal wage amount + Overtime pay = $800 + $150 = $950

w.4: Wages payable = Total wage amount - Federal income tax withholding = $950 - $94 = $856

3 0
2 years ago
The government of Ruritania has implemented many programs that promote equality, but has become concerned about the very slow ra
IceJOKER [234]

Answer: b. reduce taxes and cut back on some social programs

Explanation:

When the Economy is not doing well, Social programs are usually targeted as they usually take a lot of money from the Government's coffers.

It is also a generally held view that reducing taxes as a Fiscal policy can help stimulate the Economy by leaving the public with more funds to invest in and spend on the Economy.

The Government of Ruritania is therefore most likely to combine reducing Social programs as well as reducing taxes. This will have the effect of leaving the Government with some money as it loses revenue from taxes whilst also enabling the public to have more money to invest and to spend which will then lead to Economic growth.

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3 years ago
The following transactions are July 2014 activities of Craig�s Bowling, Inc., which operates several bowling centers (for games
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Answer:

Explanation:

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b. Cash A/c Dr $3,000

   Accounts receivable A/c Dr $5,000

                   To Sales revenue $8,000

(Being cash received for selling of equipment)

c. Cash A/c Dr $4,000

      To Account receivable  $4,000

(Being cash received for merchandise sold by the company)

d. Cash A/c Dr $2,500

       To Unearned revenue A/c $2,500

(Being deposit received for the upcoming fall season)

5 0
2 years ago
In the value chain model for a hospital, pharmaceutical companies and organ donors would be considered as
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It would be outputs 

Hope I helped
4 0
3 years ago
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