Answer and Explanation:
The journal entries are shown below:
On May 1
Cash $840,000
To 4% Bonds Payable $840,000
(Being the issued of the face value is recorded)
On Nov 1
Interest Expense $16,800
To Cash A/c $16,800
(Being the interest expense is recorded)
The computation is shown below:
= $840,000 × 4% × 6 months ÷ 12 months
= $16,800
On Dec 31
Interest Expense $5,600
To Interest Payable $5,600
(Being the accrued interest is recorded)
The computation is shown below:
= $840,000 × 4% × 6 months ÷ 12 months
= $5,600
Answer
The answer and procedures of the exercise are attached in the following image.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
<span>After one year, the amount will be (1.065)($5000)
After two years, the amount will be (1.065)(1.065)($5000)
This equals (1.065)^2 ($5000)
After n years, the amount will be (1.065)^n ($5000)
(1.065)^n ($5000) = $50,000
(1.065)^n = 10
(n) (ln(1.065)) = ln(10)
n = ln(10) / ln(1.065)
n = 37
You can begin your travels in about 37 years.</span>
Answer:
c. an SEC statement expressing an opinion.
Explanation:
The corporation's annual report usually called the Annual financial statements usually contains management discussion and analysis, the various statements of account such as balance sheet, profit or loss, changes in equity, cash flow statements and their accompanying notes.
From the options given, the only option not shown in the report is an SEC statement expressing an opinion.
Option c is right.
The type of accounting information intended to satisfy the needs of external users of accounting information is the Financial accounting.
<h3>Financial accounting</h3>
Financial accounting is the field of accounting concerned with the summary, and reporting of transactions related to a business.
In comparison with other fields, Managerial accounting includes accounting of cost, and intended for the use of internal users of the business.
Tax accounting is specifically intended for tax.
Therefore, it is financial accounting that is intended to satisfy needs of external users in a business.
Read more about<em> accounting</em> here:
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