1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
serious [3.7K]
3 years ago
8

PLEASE HELP!

Business
1 answer:
ycow [4]3 years ago
6 0

Answer:

Identify with Your Goals, Build a Professional Resume, Become Aware of Your Strengths, Assume Full Responsibility for Your Life, Always Raise Your Standards, Brand Yourself, and Network

Explanation:

You might be interested in
Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $200,000 and semiannual interest paym
tatyana61 [14]

Answer: Incomplete question.

the complete queston is

Use the above straight-line bond amortization table and prepare journal entries for the following.

(a) The issuance of bonds on December 31, 2020.

b) The first interest payment on June 30, 2021.

(c) The second interest payment on December 31, 2021.

find answer in explanation column.

Explanation:

Semiannual Period-End Unamortized Discount Carrying Value

(0) January 1,  issuance            $13,466               $ 186,534

(1) June 30, first payment          11,782                188,218

(2) December 31, second payment 10,098             189,902

1. to record issue of bonds payable

Date  Account                         Debit             Credit

Dec 31,2020 Cash(carrying value) $ 186,534  

Discount on bonds payable              $13,466    

Bonds payable                                             $200,000

2. To record first interest payment

Date        Account                         Debit             Credit

june 30, 2021 Interest expense     $7,684

discount on bonds payable                               $1, 684

Cash                                                                $6,000

Calculation =

Cash paid towards interest every semi annual period = $200,000 X 6% X1/2 =$6,000.

interest expense = cash paid + discount on bonds payable written off.

                           = $6000 + $1, 684  = $7,684

discount on bonds payable = unamortised discount on 31 dec - unamortised discount on 30th june) ($13,466 -11,782 ==$1,684)  

3.To record second interest payment on december 31,2021.

 Date        Account                         Debit             Credit

Dec. 31 ,2021 Interest expense         $7,684  

 discount on bonds payable                                $1.684

                          Cash                                          $6,000

Calculation

discount on bonds payable = unamortised discount on 30th june - unamortised discount on 31st december 2021 =11,782-10,098 = $1.684

8 0
3 years ago
An agent sells his client 10 U.S. government bonds due to mature in 30 years. According to NASAA's Statement of Policy on Unethi
Artemon [7]

Answer:

The bonds are guaranteed as to principal and interest payments by the US government.

Explanation:

According to NASAA's Statement of Policy on Unethical or Dishonest Business Practices of Broker-Dealers and Agents, a broker can say US government bonds are guaranteed on principal and interest payments.

However if inflation sets in and interest rates rises there is no guarantee from the government that interest paid on the bonds will match the higher interest rate.

So legally this statement is correct, even though the investor can lose money as a result of higher interest rate in the future.

4 0
3 years ago
Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this
Ipatiy [6.2K]

Answer:

a. $32,039

b. $19,439

c. -$12,961

d. $9,639

Explanation:

We will use accounting equation to solve the above question.

Assets = Liabilities + Equity

Also;

Net income will be the difference in equity plus dividends minus contributions

= [Ending equity - Beginning equity ] + Dividends

Since the beginning and ending equity is the same for all the years, then we'll have

$71,500 = $30,652 + Equity

Equity = $40,848

Ending equity = $122,500 - $49,613

= $72,887

a. Income : $72,887 - $40,848 + 0 - 0

= $32,039

b. $72,887 - $40,848 + $1,050 × 12 - 0

= $19,439

c. $72,887 - $40,848 + 0 - $45,000

= -12,961

d. $72,887 - $40,848 + $1,050 × 12 - $35,000

= $32,039 + $12,600 - $35,000

= $9,639

6 0
3 years ago
Becker Bikes manufactures tricycles. The company expects to sell 540 units in May and 670 units in June. Beginning and ending fi
vaieri [72.5K]

Answer:

Explanation:

Sales budget for may = 540

Sales budget for June = 670

Opening inventory for may = 190

Closing inventory for May = 155

Production in may =( 190+540)-155=575

Opening inventory in June = 155

Closing inventory = 165

Production in June = (155+670)-165=660

May material needs = 3(575+ (20%*660)

=3*707=2121 wheels

2121*24=$50,904

June material needs =3(660+(20%*640)

3*788=2364

2364*24=$56,736

7 0
3 years ago
. lflandis purchased as a building site, the cost of removing existing structures is not charged to the Land account. 12. Deprec
vitfil [10]

Answer:ers 1 it should be included in the land account, 2 it is a process of allocation of cost of the asset. 3 A stock is not the same as cash dividend , 4 Business entity concept, 5 Going concern concept, 6 capital is more accumulated in a corporation than in most other forms of business, 7 corporate income is taxed twice, 8 owners has unlimited liability on corporate debt, 9 The ownership right is easily transferred, 10 to reduce the par or stated value per share.

Explanation:

1 . The cost of removing the existing structure should be included in the land account, in the sense that, It is the cost of preparation of the land for the purpose for which it was purchased.

2. Depreciation can be defined as a decrease or fall in the value of fixed asset, it is the part of the cost of fixed asset consumed during the period of use of the asset by the firm. It allocated that is set to measure the service the asset has provided during the accounting period.

3. A stock is the collection of shares into a bundle or consolidated shares, while a cash dividend is the return given to shareholders based on their investment in shares in the company.

4. The accounting concept of business entity states that, a business is seen as a separate legal entity different from its owners in order to know exactly what the capital employed by the owner's have yielded. When a business is to be sued it is sued in it is own name and not in the name of the owner's of the business.

5. This is the accounting concept of going concern which states that, a business is going to last forever, it is not expected to be liquidated or reduce their scale of operations in the future. This assumption is however broken when there is a voluntary or compulsory liquidation. The death of a shareholder or any members of the board does not bring the business to an end.

6. Capital is more accumulated in a corporation than in most other forms of organization in the sense that, capital can be obtained from different sources such as sales of shares, Debentures, Bank loan and overdraft, Trade credit, Equipment Leasing

7. Corporate income that is distributed to shareholders is taxed twice in the sense that, the company when they made their profit they are made to paid corporate income tax to the government through the tax authority, and when the income is distributed to shareholders in form of dividend the shareholders are also expected to pay tax on the dividend they received from the company.

8. Owners has unlimited liability on corporate debt in the sense that, if the company goes into liquidation, the shareholders can only lose the capital they contributed in form of shares and will not be asked to pay anything further in order to settle the debt of the company.

9.The transfer of shares in a corporation by shareholders does not required the consent of anybody thus it can be easily transferred. A corporation has the advantage of allowing the shareholders to transfer their capital which are in form of shares at will if they feel dissatisfied with the company.

10. Stock split is the method of increasing the number of outst

3 0
3 years ago
Other questions:
  • Identify the corresponding budget(s) from which dollar amounts are transferred directly in constructing each of the following:
    11·1 answer
  • Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company
    6·1 answer
  • Add and simplify 9/19= 1/2
    11·1 answer
  • Hall Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department
    7·1 answer
  • Trestone, a guitar manufacturing company, produces a thousand units of electric guitars each year. The company has been able to
    10·2 answers
  • The risk that a central bank will not make the necessary transfer of foreign currency to complete a currency settlement is known
    6·1 answer
  • A well-known fast food restaurant chain was interested in how satisfied the employees were in working for the company. They deci
    11·1 answer
  • One advantage of the direct organizational plan is that it:________.
    6·1 answer
  • Im unable to add more comments come here to chat now
    14·2 answers
  • Why did the Confederation Congress have trouble meeting its financial obligations needed to fund government business
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!