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3 years ago

Which element of negligence deals with the failure of a person to perform a duty that required them to act in a certain way?

2 answers:

8 0

A: breach
because a breach is breaking or failing to perform a duty or observing a law.

I hope this helped ya :)

SpyIntel [72]3 years ago

5 0

Which element of negligence deals with the failure of a person to perform a duty that required them to act in a certain way?
A: breach

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On January 1, 2022, Concord Company issued $2,800,000 face value, 7%, 10-year bonds at $3,006,070. This price resulted in a 6% e

yaroslaw [1]

Answer:

Concord Company

Journal Entries:

i. The issuance of the bonds on January 1, 2022:

Debit Cash $3,006,070

Credit Bonds Payable $2,800,000

Credit Bonds Premium $206,070

To record the issuance of bonds at premium.

ii. Accrual of interest and amortization of the premium on December 31, 2022:

Debit Interest expense $180,364

Debit Premium Amortization $15,636

Credit Interest Payable $196,000

To accrue interest and record premium amortization.

iii. The payment of interest on January 1, 2023:

Debit Interest Payable $196,000

Credit Cash $196,000

To record payment of interest.

iv. Accrual of interest and amortization of the premium on December 31, 2023:

Debit Interest expense $179,426

Debit Premium Amortization $16,574

Credit Interest Payable $196,000

To accrue interest and record premium amortization.

Explanation:

a) Data and Calculations:

January 1, 2022:

Face value of bonds issued = $2,800,000

Proceeds from the bonds issue 3,006,070

Bonds Premium = $206,070

Coupon interest rate = 7%

Effective interest rate = 6%

Bonds maturity period = 10 years

Payment of annual interest = each January 1

December 31, 2022:

Interest expense = $180,364 ($3,006,070 * 6%)

Cash payment = $196,000 ($2,800,000 * 7%)

Amortization of premium $15,636 ($196,000 - $180,364)

Bonds' fair value = $2,990,434 ($3,006,070 - $15,636)

December 31, 2023:

Interest expense = $179,426 ($2,990,434 * 6%)

Cash payment = $196,000 ($2,800,000 * 7%)

Amortization of premium $16,574 ($196,000 - $179,426)

Bonds' fair value = $2,973,860 ($2,990,434 - $16,574)

Analysis:

i. The issuance of the bonds on January 1, 2022:

Cash $3,006,070 Bonds Payable $2,800,000 Bonds Premium $206,070

ii. Accrual of interest and amortization of the premium on December 31, 2022:

Interest expense $180,364 Premium Amortization $15,636 Interest Payable $196,000

iii. The payment of interest on January 1, 2023:

Interest Payable $196,000 Cash $196,000

iv. Accrual of interest and amortization of the premium on December 31, 2023:

Interest expense $179,426 Premium Amortization $16,574 Interest Payable $196,000

3 0

3 years ago

Which examples demonstrate common qualifications for Quality Assurance careers? Check all that apply.

UkoKoshka [18]

Answer:

2, 3, 6

Explanation:

3 0

2 years ago

Read 2 more answers

Reagan Corp. acquired one hundred percent of Ford Inc. on January 1, 2016, at a price in excess of the subsidiary's fair value.

Artyom0805 [142]

Answer:

B. $497,000

Explanation:

Consolidated Balance of Equipment

Excess value at the acquisition $110,000

($350,000-$240000)

Book value as on Dec 31 2018 of Ford $170,000

Book value as on Dec 31 2018 of Regent $250,000

Less: excess depreciation -$33,000 ($110,000/10*3)

Consolidated balance of equipment $497,000

3 0

3 years ago

A company that uses a job order costing system would make the following entry to record the flow of direct materials into produc

jonny [76]

Answer:

debit Work in Process Inventory, credit Raw Materials Inventory.

Explanation:

For reasons of accounting principles, the physical inventory must have priority to that of the continuous method; since the first constitutes information of greater objectivity and can therefore serve as a reference point to determine if there are missing or surpluses in the inventories, which after being well purified, can be adjusted through the cost of sale account and the inventory account accordingly if the permanent inventory turns out to be greater than the physical one, the cost of sale account must be debited for the amount of the difference, while the inventory account will receive a credit for the same value.

7 0

3 years ago

Hugh has the choice between investing in a city of heflin bond at 6.60 percent investing in a surething bond at 10.00 percent. a

butalik [34]

Answer: Surething Inc, needs to issue bonds with 11% interest rate in order to make Hugh indifferent between investing in two bonds.

We arrive at the answer in the following manner:

The City of Helfin bonds are municipal bonds and hence they are tax free. This means that Hugh will get an after - tax return of 6.6%.

The bonds of Surething Inc offering a 10% interest, however are taxed at 40%. So, the current after-tax returns of the bond is:

$After - tax return= Pre- tax return * (1 -tax rate)$