Answer: Amount should Jent report as gain on the sale of bonds : <em>$22000</em>
Explanation:
Given:
Bonds purchased at a discount of $10,000
Bonds sold at a premium of $14,000
Amortization of the discount amounted to $2,000.
Therefore, gain on the sale of bonds can be computed as:
Gains = (Cost + Premium) - (Cost - Carrying Cost)
∵ Carrying Cost = Purchasing Cost - Amortization
Carrying Cost = 10000 - 2000
Carrying Cost = $8000
∴ Gains = (10000 + 14000) - (10000 - 8000)
<u><em>Gains = $22000 </em></u>
Answer:
Explanation below
Explanation:
When organizations are looking at hiring interns, they should make sure it does not go against the laws of the Fair Labor Standards Act (FLSA) which broadly defines what it means to employ someone and remained silent regarding whether interns should be exempted from minimum wages.
FLSA provides that if your company like that of Wayne in the question, benefits from the use of interns they hired, then they must pay them a sum that is equivalent to the minimum wage.
But if the intern does not do any work that directly benefits the organization, but just there to learn and watch how things are going, then it can be justified in not paying them at all.
so Wayne's rights have been violated since the wage was below the minimum wage.
Answer:
5% and 4.55%
Explanation:
The computation is shown below:
Given that
Tax rate = 35%
High-quality municipal bond rate = 5%
High-quality corporate bond rate = 7%
So, by the above information
The Tax-exempt municipal bond is the same that is given in the question i.e 5%
And, the after-tax return on the corporate bond is
= Corporate bond interest rate × (1 - tax rate)
= 7% × (1 - 0.35)
= 7% × 0.65
= 4.55%
Moreover, there is no interest earned on a municipal bond after coming of the sixteenth amendment
Government of South Africa has tye owner of South African Broadcasting Corporation. Is the form of ownership.
Answer: b. can reject the entire shipment
Explanation: TV Stores can reject the entire shipment if the goods received from Screen Perfect Inc. do not conform exactly to the terms of the contract in some details. Under the perfect tender rule, Screen Perfect Inc. must ship or tender goods to TV Stores that exactly conform to the contract in every detail. The rule refers to the legal right for a buyer of a good to insist upon "perfect tender" in terms of quality, quantity, and manner of delivery by the seller.