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
Nezavi [6.7K]
3 years ago
10

Madrid Company plans to issue 9% bonds with a par value of $5,300,000. The company sells $4,770,000 of the bonds at par on Janua

ry 1. The remaining $530,000 sells at par on July 1. The bonds pay interest semiannually on June 30 and December 31. 1. Record the entry for the first interest payment on June 30. 2. Record the entry for the July 1 cash sale of bonds.
Business
1 answer:
ASHA 777 [7]3 years ago
5 0

Answer and Explanation:

The journal entry are as follows

1. Interest expense $214,650

       To Cash $214,650

(Being the first interest payment is recorded)

The computation is shown below

= $4,770,000 × 9%  × 6 months ÷ 12 months

= $214,650

For recording this we debited the interest expense as it increased the expenses while on the other hand the cash is paid which reduced the cash balance so it is credited

2. Cash $530,000

      To Bond payable $530,000

(Being the cash sale of bond is recorded)

For recording this we debited the cash as cash is received that increased the cash balance and at the same time we credited the bond payable

You might be interested in
Tình hình kinh tế và triển vọng phát triển của việt nam
kodGreya [7K]

Answer:

English plzzz

Explanation:

8 0
2 years ago
Jill and sam, recent graduates, are hired as computer analysts for hrj enterprises inc. in a conversation over lunch, jill disco
adell [148]
<span>Jill still has a wage discrepancy claim using the Equal Pay Act and Title VII because the remedy was to lower Seth's salary in response. The discrepancy still existed for the entire time that she and Seth had differing wage rates. This would fall under Title VII as a type of sex-based discrimination.</span>
7 0
3 years ago
Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales.
Debora [2.8K]
I am pretty sure it’s D.
7 0
3 years ago
On July 1, Year 4, Pell Co. purchased Green Corp. 10-year, 8% bonds with a face amount of $500,000 for $420,000. The bonds are c
gayaneshka [121]

Answer:

$21,800

Explanation:

The computation of 4-year revenue is as shown below:-

Bond Income of 4th Year = Face amount × Bond × 1 ÷ 2

= $500,000 × 8% × 1 ÷ 2

= $20,000

Interest Revenue = Bond Income + Amount of Discount Amortized

= $20,000 + $1,800

= $21,800

Therefore for computing the interest revenue we simply bond income with the amount of discount amortized.

6 0
3 years ago
Three years ago, Vincent Chow completed his degree in accounting. The economy was in a depressed state at the time, and Vincent
m_a_m_a [10]

Answer:

Prerequisite 1  

There are three nonexclusive serious techniques:  

Cost Leadership - target showcase exceptionally broad, point is to have the most minimal cost. Items not specific, attempt to speak to shoppers because of their low costs.  

Separation - items or administrations gave elite highlights that clients need, commonly an increasingly devoted specialty. Ready to charge more significant expenses because of these additional highlights.  

Center Strategy - either a cost authority or a separation methodology, yet focused for a tight, engaged market.  

Vincent's business utilizes a Focus Strategy. The Cappuccino Express was made with the conviction that because of individuals' evolving schedules, comfort would be vital – giving speedy and advantageous espresso to occupied individuals.  

Prerequisite 2  

Basic Success Factors are the vital money related and non-monetary proportions of achievement. To be increasingly explicit Critical Success Factors are features of the association's exhibition that are essential to its upper hand.  

The Cappuccino Express Critical Success Factors :  

Quality and cost of existing items  

Areas specific..near Malls , schools , workplaces and so forth.  

Devise new items at customary interims  

Client Turnover – capacity to keep lines short, vehicles traveling through line  

Keeping Loyal clients with quality items along these lines diminishing ad costs  

Giving incredible client support  

Improving Profitability  

The greater part of these Vincent will have the option to show some power about whether it is adjusting costs, items, guiding various areas or making preparing programs. Then again, if Vincent's essential supposition never again remains constant, regardless of what he does he will most likely be unable to equal the initial investment, not to mention turn a benefit.  

Prerequisite 2  

Vincent needs to leave on numerous assignments in dealing with The Cappuccino Express. To start with, Vincent must blueprint a statement of purpose, objectives, and destinations. As supervisor, Vincent must do statistical surveying. He should get some answers concerning his rivals, clients, and the economy. Additionally, he should utilize a workforce and train them. He should isolate the expenses into assembling costs (direct materials, direct work, and assembling overhead) and non producing costs (selling and managerial expenses). This will take into account monetary observing and precise gauges of benefits, stock, and expenses. Vincent ought to assess both of his areas and conclude whether to remain in business or grow. Additionally, Vincent ought to evaluate his item contributions, administrations, and quality. He can choose which sorts of publicizing (advancements and limits) to offer.

8 0
3 years ago
Other questions:
  • Assume that you manage a $10.00 million mutual fund that has a beta of 1.05 and a 9.50% required return. The risk-free rate is 2
    13·1 answer
  • Which of these usually require students to maintain a specific number of hours and grade point average?
    6·1 answer
  • In the country Blestonia, people value relationships over business. They use communication as a means of building social relatio
    9·1 answer
  • A real estate broker agrees to manage a property for its owner, but only on the condition that when the owner decides to sell, h
    6·1 answer
  • Fauver Industries plans to have a capital budget of $650,000. It wants to maintain a target capital structure of 40% debt and 60
    7·1 answer
  • BlackHawk anticipates paying a dividend of $4.25 next year and is expected to grow the dividend at a constant rate of 7% per yea
    8·1 answer
  • Just before the Persian Gulf War, suppliers of gasoline held back the supply of gasoline they were willing to sell. This action
    10·1 answer
  • In 2021, Ryan Management collected rent revenue for 2022 tenant occupancy. For financial reporting, the rent is recorded as defe
    12·1 answer
  • LPD​ Logistics, Inc.'s projected sales for the first six months of 2010 are given below. Jan. ​$300,000 April ​$350,000 Feb. ​$3
    6·1 answer
  • How does PESTLE help your strategic development team?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!